W&T Offshore (NYSE:WTI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of W&T Offshore (NYSE:WTI) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

WTI has been the topic of a number of other reports. Roth Capital set a $4.25 price objective on shares of W&T Offshore in a research note on Tuesday, July 21st. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, W&T Offshore has a consensus rating of “Hold” and a consensus target price of $4.25.

W&T Offshore Stock Down 11.2%

WTI opened at $3.60 on Friday. W&T Offshore has a twelve month low of $1.50 and a twelve month high of $5.08. The stock has a market capitalization of $542.63 million, a price-to-earnings ratio of -10.57 and a beta of 0.35. The company has a 50-day simple moving average of $3.82 and a 200 day simple moving average of $3.40.

W&T Offshore (NYSE:WTI) last issued its earnings results on Thursday, October 29th. The oil and gas company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.07. The firm had revenue of $167.08 million during the quarter, compared to analyst estimates of $144.97 million. Sell-side analysts anticipate that W&T Offshore will post -0.09 EPS for the current fiscal year.

W&T Offshore Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 12th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.1%. W&T Offshore’s dividend payout ratio is -11.76%.

Institutional Investors Weigh In On W&T Offshore

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of W&T Offshore during the 2nd quarter valued at approximately $26,065,000. Algert Global LLC boosted its position in W&T Offshore by 185.8% in the second quarter. Algert Global LLC now owns 1,589,137 shares of the oil and gas company’s stock valued at $5,006,000 after buying an additional 1,033,167 shares in the last quarter. Bank of New York Mellon Corp boosted its position in W&T Offshore by 10.4% in the first quarter. Bank of New York Mellon Corp now owns 1,137,443 shares of the oil and gas company’s stock valued at $3,879,000 after buying an additional 106,779 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in W&T Offshore in the second quarter valued at approximately $3,353,000. Finally, Bank of America Corp DE grew its stake in shares of W&T Offshore by 4.2% during the first quarter. Bank of America Corp DE now owns 649,490 shares of the oil and gas company’s stock worth $2,215,000 after buying an additional 26,262 shares during the last quarter. 42.88% 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 exploration and production company focused on the U.S. Gulf of Mexico. The company explores for, develops, and produces crude oil, natural gas, and natural gas liquids from offshore properties.

W&T Offshore’s operations have included assets in the federal and state waters of the Gulf of Mexico, spanning shelf and deepwater areas. Its activities include acquiring exploration and production interests, drilling and completing wells, and managing offshore production and related infrastructure.

Founded in 1983 by Tracy W.