W&T Offshore (NYSE:WTI) Rating Increased to Buy at Wall Street Zen

W&T Offshore (NYSE:WTI) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other research analysts have also issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a research note on Monday, April 20th. William Blair initiated coverage on shares of W&T Offshore in a research note on Friday, April 17th. They set an “outperform” rating on the stock. Finally, Zacks Research lowered shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, W&T Offshore has a consensus rating of “Hold”.

W&T Offshore Stock Down 1.5%

Shares of WTI opened at $3.67 on Friday. The company’s fifty day moving average is $3.64 and its 200-day moving average is $2.64. W&T Offshore has a 12 month low of $1.46 and a 12 month high of $5.08. The firm has a market cap of $545.28 million, a price-to-earnings ratio of -3.86 and a beta of 0.29.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.17). The firm had revenue of $150.02 million for the quarter, compared to the consensus estimate of $138.41 million. As a group, research analysts predict that W&T Offshore will post -0.12 earnings per share for the current fiscal year.

Institutional Trading of W&T Offshore

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AXQ Capital LP acquired a new stake in W&T Offshore in the 3rd quarter worth $28,000. StoneX Group Inc. acquired a new stake in W&T Offshore in the 4th quarter worth $28,000. Oxford Asset Management LLP acquired a new stake in W&T Offshore in the 2nd quarter worth $29,000. Wealth Enhancement Advisory Services LLC acquired a new stake in W&T Offshore in the 3rd quarter worth $30,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in W&T Offshore in the 3rd quarter worth $32,000. 42.88% of the stock is currently owned by institutional investors and hedge funds.

About W&T Offshore

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.