W&T Offshore (NYSE:WTI) Trading Up 7.1% – What’s Next?

Shares of W&T Offshore, Inc. (NYSE:WTI) shot up 7.1% during trading on Tuesday . The company traded as high as $4.17 and last traded at $4.1650. 4,479,238 shares were traded during mid-day trading, a decline of 33% from the average session volume of 6,661,996 shares. The stock had previously closed at $3.89.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a report on Monday, April 20th. Wall Street Zen raised shares of W&T Offshore from a “hold” rating to a “buy” rating in a research note on Saturday. William Blair assumed coverage on shares of W&T Offshore in a research note on Friday, April 17th. They set an “outperform” rating on the stock. Finally, Zacks Research downgraded shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

W&T Offshore Price Performance

The company has a fifty day moving average price of $3.28 and a two-hundred day moving average price of $2.42. The company has a market capitalization of $617.59 million, a P/E ratio of -4.44 and a beta of 0.29.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Thursday, May 7th. The oil and gas company reported ($0.15) earnings per share (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 analyst estimates of $138.41 million. As a group, sell-side analysts forecast that W&T Offshore, Inc. will post -0.11 earnings per share for the current year.

W&T Offshore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Thursday, May 21st will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.04 annualized dividend and a dividend yield of 1.0%. W&T Offshore’s payout ratio is currently -4.21%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. UBS Group AG grew its position in shares of W&T Offshore by 381.1% in the 4th 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 during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of W&T Offshore by 115.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,666,494 shares of the oil and gas company’s stock worth $2,716,000 after acquiring an additional 894,221 shares during the period. Millennium Management LLC boosted its holdings in W&T Offshore by 33.9% in the third quarter. Millennium Management LLC now owns 2,560,561 shares of the oil and gas company’s stock valued at $4,660,000 after acquiring an additional 647,596 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 acquiring an additional 508,050 shares during the last quarter. Finally, First Trust Advisors LP acquired a new stake in W&T Offshore during the 3rd quarter valued at approximately $853,000. 42.88% of the stock is owned by institutional investors.

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.