W&T Offshore (NYSE:WTI) Lowered to “Sell” Rating by StockNews.com

StockNews.com downgraded shares of W&T Offshore (NYSE:WTI) from a hold rating to a sell rating in a report issued on Wednesday.

W&T Offshore Stock Down 1.7 %

Shares of NYSE:WTI opened at $1.49 on Wednesday. W&T Offshore has a 1 year low of $1.30 and a 1 year high of $2.84. The stock has a 50-day simple moving average of $1.69 and a 200-day simple moving average of $1.93. The company has a debt-to-equity ratio of 75.32, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $218.83 million, a P/E ratio of -3.45 and a beta of 1.32.

W&T Offshore Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, March 17th. W&T Offshore’s dividend payout ratio is presently -9.30%.

Institutional Trading of W&T Offshore

Institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC acquired a new position in shares of W&T Offshore during the third quarter worth about $64,000. FMR LLC raised its holdings in shares of W&T Offshore by 72.1% during the 3rd quarter. FMR LLC now owns 37,846 shares of the oil and gas company’s stock valued at $81,000 after buying an additional 15,852 shares during the period. BNP Paribas Financial Markets lifted its position in W&T Offshore by 307.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 138,029 shares of the oil and gas company’s stock worth $297,000 after acquiring an additional 104,156 shares in the last quarter. Barclays PLC boosted its holdings in W&T Offshore by 317.3% in the 3rd quarter. Barclays PLC now owns 140,781 shares of the oil and gas company’s stock worth $303,000 after acquiring an additional 107,045 shares during the period. Finally, Geode Capital Management LLC grew its position in W&T Offshore by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,146,569 shares of the oil and gas company’s stock valued at $4,616,000 after acquiring an additional 52,186 shares in the last quarter. 42.88% of the stock is owned by hedge funds and other institutional investors.

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.