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

Several other analysts also recently issued reports on WTI. Zacks Investment Research downgraded W&T Offshore from a “buy” rating to a “hold” rating in a report on Thursday, May 4th. Barclays PLC reissued a “sell” rating and issued a $1.50 price objective on shares of W&T Offshore in a research report on Friday, July 7th. Finally, BidaskClub cut shares of W&T Offshore from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. W&T Offshore has an average rating of “Hold” and a consensus target price of $2.58.

W&T Offshore (WTI) traded down 2.91% on Monday, reaching $2.00. The company 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 capitalization is $275.03 million.

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

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A number of institutional investors have recently bought and sold shares of WTI. Nationwide Fund Advisors increased its stake in shares of 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. Cpcm LLC increased its stake in shares of W&T Offshore by 31.6% in the first quarter. Cpcm LLC now owns 242,202 shares of the oil and gas company’s stock valued at $671,000 after buying an additional 58,102 shares during the period. Menta Capital LLC acquired a new stake in shares of W&T Offshore during the first quarter valued at about $960,000. Columbia Pacific Advisors LLC increased its stake in shares of W&T Offshore by 43.9% in the first quarter. Columbia Pacific Advisors LLC now owns 466,239 shares of the oil and gas company’s stock valued at $1,291,000 after buying an additional 142,139 shares during the period. Finally, Spark Investment Management LLC acquired a new stake in shares of W&T Offshore during the first quarter valued at about $381,000. 46.72% of the stock is owned by institutional investors.

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.

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