W&T Offshore (NYSE:WTI) Shares Up 4.9% – Still a Buy?

Shares of W&T Offshore, Inc. (NYSE:WTI) rose 4.9% during trading on Monday . The company traded as high as $3.62 and last traded at $3.5450. Approximately 2,936,022 shares changed hands during trading, a decline of 46% from the average daily volume of 5,475,154 shares. The stock had previously closed at $3.38.

Wall Street Analysts Forecast Growth

WTI has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a report on Wednesday, January 21st. Zacks Research downgraded W&T Offshore from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. One research 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.com, the stock presently has an average rating of “Hold”.

W&T Offshore Price Performance

The firm has a 50-day simple moving average of $2.59 and a 200 day simple moving average of $2.13. The company has a market capitalization of $521.77 million, a PE ratio of -3.48 and a beta of 0.26.

W&T Offshore (NYSE:WTI) last issued its earnings results on Monday, March 16th. The oil and gas company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The firm had revenue of $121.71 million during the quarter, compared to the consensus estimate of $115.36 million. Equities research analysts expect that W&T Offshore, Inc. will post -0.45 EPS for the current fiscal year.

W&T Offshore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 19th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Thursday, March 19th. W&T Offshore’s dividend payout ratio is currently -3.96%.

Institutional Trading of W&T Offshore

A number of hedge funds have recently made changes to their positions in WTI. AXQ Capital LP purchased a new position in shares of W&T Offshore in the third quarter valued at $28,000. StoneX Group Inc. acquired a new stake in W&T Offshore during the 4th quarter valued at $28,000. Oxford Asset Management LLP purchased a new stake in W&T Offshore during the 2nd quarter worth $29,000. HBK Sorce Advisory LLC purchased a new stake in W&T Offshore during the 3rd quarter worth $30,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in W&T Offshore in the 3rd quarter worth $30,000. Hedge funds and other institutional investors 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.