W&T Offshore (NYSE:WTI) Stock Price Up 9.2% – What’s Next?

W&T Offshore, Inc. (NYSE:WTI)’s stock price shot up 9.2% on Tuesday . The stock traded as high as $3.35 and last traded at $3.3750. Approximately 2,513,310 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 6,253,006 shares. The stock had previously closed at $3.09.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WTI shares. Wall Street Zen lowered shares of W&T Offshore from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a research note on Monday, April 20th. Finally, William Blair started coverage on W&T Offshore in a research note on Friday, April 17th. They issued an “outperform” rating on the stock. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

W&T Offshore Stock Performance

The stock has a market cap of $506.59 million, a PE ratio of -3.58 and a beta of 0.24. The firm’s 50-day moving average is $3.83 and its 200 day moving average is $2.95.

W&T Offshore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, May 21st. W&T Offshore’s payout ratio is -4.21%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. StoneX Group Inc. acquired a new stake in W&T Offshore in the 4th quarter worth about $28,000. Oxford Asset Management LLP acquired a new position in shares of W&T Offshore during the 2nd quarter valued at about $29,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of W&T Offshore during the 3rd quarter worth about $32,000. Engineers Gate Manager LP purchased a new position in shares of W&T Offshore during the 4th quarter worth about $32,000. Finally, Capricorn Fund Managers Ltd acquired a new stake in shares of W&T Offshore in the first quarter worth approximately $34,000. Hedge funds and other institutional investors 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.