W&T Offshore, Inc. (WTI) Cut to Hold at ValuEngine

ValuEngine lowered shares of W&T Offshore, Inc. (NYSE:WTI) from a buy rating to a hold rating in a research note published on Monday, August 7th.

A number of other brokerages have also recently commented on WTI. Zacks Investment Research raised W&T Offshore from a hold rating to a buy rating and set a $2.50 target price on the stock in a report on Wednesday, May 10th. BidaskClub cut W&T Offshore from a sell rating to a strong sell rating in a report on Tuesday, July 11th. Finally, Barclays PLC reissued a sell rating and set a $1.50 price target on shares of W&T Offshore in a report on Friday, July 7th. Three research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $2.58.

Shares of W&T Offshore (NYSE WTI) opened at 1.85 on Monday. The company’s 50 day moving average price is $1.95 and its 200-day moving average price is $2.30. W&T Offshore has a 1-year low of $1.31 and a 1-year high of $3.47. The company has a market capitalization of $254.51 million, a price-to-earnings ratio of 1.98 and a beta of 2.40.

W&T Offshore (NYSE:WTI) last announced its earnings results on Thursday, August 3rd. The oil and gas company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.21. W&T Offshore had a negative return on equity of 6.08% and a net margin of 25.52%. The company had revenue of $123.32 million for the quarter, compared to analysts’ expectations of $121.30 million. During the same period last year, the firm earned ($0.47) EPS. W&T Offshore’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, equities analysts forecast that W&T Offshore will post $0.41 earnings per share for the current year.

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A number of large investors have recently bought and sold shares of the stock. New York State Common Retirement Fund boosted its stake in W&T Offshore by 62.0% in the second quarter. New York State Common Retirement Fund now owns 52,000 shares of the oil and gas company’s stock worth $102,000 after buying an additional 19,899 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in W&T Offshore by 23.3% in the first quarter. Tudor Investment Corp ET AL now owns 39,520 shares of the oil and gas company’s stock worth $109,000 after buying an additional 7,478 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in W&T Offshore by 4.1% in the first quarter. Public Employees Retirement System of Ohio now owns 42,234 shares of the oil and gas company’s stock worth $117,000 after buying an additional 1,672 shares in the last quarter. Prudential Financial Inc. acquired a new stake in W&T Offshore during the first quarter worth approximately $124,000. Finally, Zacks Investment Management boosted its stake in shares of W&T Offshore by 68.8% in the second quarter. Zacks Investment Management now owns 66,916 shares of the oil and gas company’s stock valued at $131,000 after buying an additional 27,270 shares during the period. 49.10% 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 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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