W&T Offshore, Inc. (NYSE:WTI) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Monday.

Several other analysts have also issued reports on the company. Zacks Investment Research raised W&T Offshore from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a report on Wednesday, May 10th. BidaskClub lowered W&T Offshore from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Finally, Barclays PLC reissued a “sell” rating and set a $1.50 target price on shares of W&T Offshore in a report on Friday, July 7th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $2.58.

Shares of W&T Offshore (WTI) traded down 2.91% on Monday, hitting $2.00. The company’s stock had a trading volume of 1,293,813 shares. The stock’s 50-day moving average price is $1.99 and its 200-day moving average price is $2.40. W&T Offshore has a 52 week low of $1.31 and a 52 week high of $3.47. The firm’s market cap is $275.03 million.

W&T Offshore (NYSE:WTI) last released its earnings results on Thursday, August 3rd. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.21. The company had revenue of $123.32 million for the quarter, compared to analyst estimates of $121.30 million. W&T Offshore had a negative return on equity of 5.94% and a net margin of 25.52%. W&T Offshore’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.47) EPS. Equities analysts expect that W&T Offshore will post $0.30 earnings per share for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in WTI. Public Employees Retirement System of Ohio raised its stake in W&T Offshore by 4.1% in the first quarter. Public Employees Retirement System of Ohio now owns 42,234 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 1,672 shares during the period. State Street Corp raised its stake in W&T Offshore by 1.0% in the fourth quarter. State Street Corp now owns 624,562 shares of the oil and gas company’s stock valued at $1,729,000 after buying an additional 6,470 shares during the period. Tudor Investment Corp ET AL raised its stake in W&T Offshore by 23.3% in the first quarter. Tudor Investment Corp ET AL now owns 39,520 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 7,478 shares during the period. Bank of New York Mellon Corp raised its stake in W&T Offshore by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 151,848 shares of the oil and gas company’s stock valued at $420,000 after buying an additional 8,072 shares during the period. Finally, Nationwide Fund Advisors raised its stake in W&T Offshore by 165.5% in the first quarter. Nationwide Fund Advisors now owns 59,735 shares of the oil and gas company’s stock valued at $165,000 after buying an additional 37,238 shares during the period. 46.72% of the stock is currently owned by institutional investors and hedge funds.

W&T Offshore Company Profile

W&T Offshore, Inc is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. As of December 31, 2016, the Company had interests in offshore leases covering approximately 750,000 gross acres (450,000 net acres) spanning across the Outer Continental Shelf (OCS) off the coasts of Louisiana, Texas, Mississippi and Alabama.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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