W&T Offshore (NYSE:WTI) Cut to “Sell” at Wall Street Zen

W&T Offshore (NYSE:WTI) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Sunday.

W&T Offshore Price Performance

Shares of WTI opened at $2.17 on Friday. W&T Offshore has a one year low of $1.09 and a one year high of $2.84. The company has a 50-day moving average of $1.49 and a two-hundred day moving average of $1.56. The stock has a market cap of $319.66 million, a price-to-earnings ratio of -3.01 and a beta of 0.65.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. The business had revenue of $129.87 million during the quarter, compared to analysts’ expectations of $123.91 million. W&T Offshore had a negative net margin of 20.66% and a negative return on equity of 775.16%. Analysts anticipate that W&T Offshore will post -0.45 earnings per share for the current year.

Hedge Funds Weigh In On W&T Offshore

Institutional investors and hedge funds have recently bought and sold shares of the stock. Huber Capital Management LLC boosted its stake in shares of W&T Offshore by 35.8% in the 1st quarter. Huber Capital Management LLC now owns 6,858,684 shares of the oil and gas company’s stock valued at $10,631,000 after purchasing an additional 1,808,234 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of W&T Offshore by 427.0% in the 4th quarter. Ameriprise Financial Inc. now owns 3,831,604 shares of the oil and gas company’s stock valued at $6,360,000 after acquiring an additional 3,104,484 shares during the last quarter. Millennium Management LLC grew its position in shares of W&T Offshore by 24.2% in the 1st quarter. Millennium Management LLC now owns 3,071,610 shares of the oil and gas company’s stock valued at $4,761,000 after purchasing an additional 598,614 shares during the period. Geode Capital Management LLC grew its position in shares of W&T Offshore by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 2,189,364 shares of the oil and gas company’s stock valued at $3,635,000 after purchasing an additional 42,795 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in W&T Offshore by 11.2% during the 1st quarter. Russell Investments Group Ltd. now owns 1,284,183 shares of the oil and gas company’s stock worth $1,990,000 after acquiring an additional 129,564 shares during the last quarter. Institutional investors own 42.88% of the company’s stock.

About W&T Offshore

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.