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

W&T Offshore, Inc. (NYSE:WTI) gapped down prior to trading on Monday . The stock had previously closed at $3.49, but opened at $3.39. W&T Offshore shares last traded at $3.4210, with a volume of 665,220 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WTI. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a research report on Friday. Roth Capital set a $4.25 price objective on W&T Offshore in a research report on Tuesday. Wall Street Zen downgraded shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Finally, William Blair initiated coverage on shares of W&T Offshore in a research note on Friday, April 17th. They issued an “outperform” rating for the company. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, W&T Offshore currently has a consensus rating of “Hold” and an average target price of $4.25.

W&T Offshore Stock Up 3.2%

The business’s fifty day moving average is $3.71 and its 200-day moving average is $3.09. The stock has a market capitalization of $538.88 million, a PE ratio of -3.81 and a beta of 0.24.

W&T Offshore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Thursday, May 21st. W&T Offshore’s dividend payout ratio is presently -4.21%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. StoneX Group Inc. purchased a new stake in W&T Offshore during the fourth quarter valued at about $28,000. Oxford Asset Management LLP purchased a new position in shares of W&T Offshore in the 2nd quarter worth about $29,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of W&T Offshore in the 3rd quarter valued at about $32,000. Engineers Gate Manager LP acquired a new position in shares of W&T Offshore in the 4th quarter valued at about $32,000. Finally, Capricorn Fund Managers Ltd purchased a new stake in shares of W&T Offshore during the 1st quarter worth about $34,000. 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.