W&T Offshore (NYSE:WTI) Stock Rating Lowered by Zacks Research

W&T Offshore (NYSE:WTI) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

W&T Offshore Stock Up 3.3%

Shares of WTI stock traded up $0.09 during mid-day trading on Thursday, reaching $2.65. 3,805,774 shares of the stock traded hands, compared to its average volume of 2,860,458. The company has a market cap of $393.52 million, a price-to-earnings ratio of -2.67 and a beta of 0.35. The stock’s fifty day simple moving average is $2.03 and its two-hundred day simple moving average is $1.94. W&T Offshore has a 1-year low of $1.09 and a 1-year high of $2.78.

Institutional Trading of W&T Offshore

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WTI. AXQ Capital LP bought a new stake in shares of W&T Offshore in the 3rd quarter valued at $28,000. StoneX Group Inc. acquired a new position in W&T Offshore in the fourth quarter valued at $28,000. Oxford Asset Management LLP acquired a new position in W&T Offshore in the second quarter valued at $29,000. Wealth Enhancement Advisory Services LLC bought a new stake in W&T Offshore during the third quarter valued at $30,000. Finally, HBK Sorce Advisory LLC acquired a new stake in W&T Offshore during the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 42.88% of the company’s stock.

W&T Offshore Company Profile

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.