W&T Offshore (NYSE:WTI) Sets New 12-Month High – Here’s What Happened

W&T Offshore, Inc. (NYSE:WTI) hit a new 52-week high on Monday . The stock traded as high as $4.04 and last traded at $3.73, with a volume of 9865057 shares traded. The stock had previously closed at $3.14.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a report on Wednesday, January 21st. Zacks Research lowered shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold”.

W&T Offshore Price Performance

The business has a fifty day moving average of $2.17 and a 200 day moving average of $1.99. The stock has a market cap of $549.00 million, a PE ratio of -3.73 and a beta of 0.26.

W&T Offshore Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 19th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, March 19th. W&T Offshore’s payout ratio is -4.04%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. UBS Group AG grew its holdings in W&T Offshore by 381.1% during the 4th quarter. UBS Group AG now owns 2,400,024 shares of the oil and gas company’s stock worth $3,912,000 after acquiring an additional 1,901,213 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in W&T Offshore by 115.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,666,494 shares of the oil and gas company’s stock valued at $2,716,000 after buying an additional 894,221 shares in the last quarter. Millennium Management LLC lifted its holdings in W&T Offshore by 33.9% during the 3rd quarter. Millennium Management LLC now owns 2,560,561 shares of the oil and gas company’s stock worth $4,660,000 after buying an additional 647,596 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of W&T Offshore by 25.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,540,588 shares of the oil and gas company’s stock worth $4,141,000 after acquiring an additional 508,050 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in shares of W&T Offshore in the 3rd quarter valued at approximately $853,000. 42.88% of the stock is currently owned by institutional investors.

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.