W&T Offshore (NYSE:WTI) Upgraded at StockNews.com

StockNews.com upgraded shares of W&T Offshore (NYSE:WTI) from a sell rating to a hold rating in a research note released on Friday.

W&T Offshore Stock Down 3.4 %

WTI stock opened at $1.70 on Friday. The stock has a market capitalization of $250.51 million, a PE ratio of -3.95 and a beta of 1.35. W&T Offshore has a 52 week low of $1.69 and a 52 week high of $3.44. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 75.32. The firm has a 50 day moving average of $2.05 and a 200 day moving average of $2.16.

W&T Offshore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 21st were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 2.35%. The ex-dividend date was Thursday, November 21st. W&T Offshore’s payout ratio is -9.30%.

Institutional Investors Weigh In On W&T Offshore

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WTI. Squarepoint Ops LLC grew its stake in shares of W&T Offshore by 197.3% during the 2nd quarter. Squarepoint Ops LLC now owns 413,139 shares of the oil and gas company’s stock worth $884,000 after purchasing an additional 274,156 shares during the period. Huber Capital Management LLC grew its position in W&T Offshore by 18.1% during the second quarter. Huber Capital Management LLC now owns 4,763,734 shares of the oil and gas company’s stock valued at $10,194,000 after buying an additional 731,254 shares during the period. Creative Planning increased its holdings in W&T Offshore by 14.4% in the third quarter. Creative Planning now owns 286,747 shares of the oil and gas company’s stock valued at $617,000 after buying an additional 36,145 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of W&T Offshore by 17.8% in the second quarter. The Manufacturers Life Insurance Company now owns 47,209 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 7,142 shares during the period. Finally, Caprock Group LLC purchased a new stake in shares of W&T Offshore during the 2nd quarter worth about $34,000. 42.88% of the stock is owned by institutional investors and hedge funds.

About W&T Offshore

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.