W&T Offshore (NYSE:WTI) Shares Down 5.2% – Should You Sell?

Shares of W&T Offshore, Inc. (NYSE:WTI) fell 5.2% during trading on Tuesday . The company traded as low as $4.14 and last traded at $4.20. 1,724,003 shares changed hands during trading, a decline of 74% from the average session volume of 6,665,959 shares. The stock had previously closed at $4.43.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. William Blair assumed coverage on shares of W&T Offshore in a report on Friday, April 17th. They set an “outperform” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a report on Monday, April 20th. Wall Street Zen downgraded shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Zacks Research downgraded shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

W&T Offshore Price Performance

The stock’s fifty day moving average price is $3.59 and its 200-day moving average price is $2.59. The firm has a market cap of $605.53 million, a price-to-earnings ratio of -4.28 and a beta of 0.29.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The company had revenue of $150.02 million for the quarter, compared to analysts’ expectations of $138.41 million. As a group, equities research analysts predict that W&T Offshore, Inc. will post -0.11 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, May 28th. Investors of record on Thursday, May 21st will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, May 21st. W&T Offshore’s dividend payout ratio is presently -4.21%.

Hedge Funds Weigh In On W&T Offshore

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of W&T Offshore by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,828,361 shares of the oil and gas company’s stock valued at $12,428,000 after buying an additional 19,283 shares in the last quarter. Millennium Management LLC increased its stake in W&T Offshore by 24.2% in the first quarter. Millennium Management LLC now owns 3,071,610 shares of the oil and gas company’s stock valued at $4,761,000 after purchasing an additional 598,614 shares in the last quarter. State Street Corp grew its holdings in shares of W&T Offshore by 0.5% in the 4th quarter. State Street Corp now owns 2,680,643 shares of the oil and gas company’s stock valued at $4,369,000 after buying an additional 14,426 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in W&T Offshore by 25.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,540,588 shares of the oil and gas company’s stock valued at $4,141,000 after buying an additional 508,050 shares in the last quarter. Finally, UBS Group AG lifted its stake in W&T Offshore by 381.1% in the fourth quarter. UBS Group AG now owns 2,400,024 shares of the oil and gas company’s stock valued at $3,912,000 after buying an additional 1,901,213 shares in the last quarter. Institutional investors and hedge funds own 42.88% of the company’s stock.

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.