W&T Offshore (NYSE:WTI) Stock Price Up 11% – What’s Next?
by Danessa Lincoln · The Markets DailyW&T Offshore, Inc. (NYSE:WTI – Get Free Report)’s share price rose 11% during trading on Wednesday . The stock traded as high as $3.62 and last traded at $3.5950. Approximately 6,850,260 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 6,520,470 shares. The stock had previously closed at $3.24.
Wall Street Analysts Forecast Growth
WTI has been the topic of several research reports. William Blair initiated coverage on shares of W&T Offshore in a research report on Friday, April 17th. They issued an “outperform” rating on the stock. Zacks Research downgraded W&T Offshore from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a report on Monday. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.
View Our Latest Analysis on WTI
W&T Offshore Stock Performance
The firm has a market cap of $567.60 million, a P/E ratio of -3.78 and a beta of 0.09. The company has a 50 day moving average of $2.98 and a 200 day moving average of $2.30.
W&T Offshore (NYSE:WTI – Get Free Report) last announced its quarterly earnings results on Monday, March 16th. The oil and gas company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The company had revenue of $121.71 million during the quarter, compared to analyst estimates of $115.36 million. As a group, analysts expect that W&T Offshore, Inc. will post -0.32 EPS for the current fiscal year.
W&T Offshore Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 19th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, March 19th. W&T Offshore’s payout ratio is -3.96%.
Institutional Investors Weigh In On W&T Offshore
Several institutional investors and hedge funds have recently added to or reduced their stakes in WTI. AXQ Capital LP acquired a new stake in W&T Offshore in the 3rd quarter worth approximately $28,000. StoneX Group Inc. acquired a new position in shares of W&T Offshore during the fourth quarter worth approximately $28,000. Oxford Asset Management LLP acquired a new position in shares of W&T Offshore during the second quarter worth approximately $29,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of W&T Offshore during the third quarter worth approximately $30,000. Finally, HBK Sorce Advisory LLC acquired a new position in shares of W&T Offshore during the third quarter worth approximately $30,000. 42.88% of the stock is currently owned by institutional investors and hedge funds.
About W&T Offshore
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.