W&T Offshore (NYSE:WTI) Trading Up 7.2% – Still a Buy?

Shares of W&T Offshore, Inc. (NYSE:WTI) were up 7.2% during trading on Wednesday . The company traded as high as $4.07 and last traded at $4.1150. Approximately 647,334 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 6,506,383 shares. The stock had previously closed at $3.84.

Analysts Set New Price Targets

A number of research analysts recently commented on WTI shares. Wall Street Zen raised W&T Offshore from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Zacks Research downgraded W&T Offshore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a research note on Monday, April 20th. Finally, William Blair initiated coverage on W&T Offshore in a research note on Friday, April 17th. They set an “outperform” rating for the company. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

W&T Offshore Stock Down 4.3%

The stock has a market cap of $609.25 million, a price-to-earnings ratio of -4.31 and a beta of 0.24. The company has a 50 day simple moving average of $3.79 and a 200 day simple moving average of $2.78.

W&T Offshore (NYSE:WTI) last issued its earnings results on Monday, March 9th. The oil and gas company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The business had revenue of $121.71 million during the quarter, compared to analysts’ expectations of $115.36 million. As a group, analysts predict that W&T Offshore, Inc. will post -0.12 earnings per share for the current fiscal year.

W&T Offshore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.04 annualized dividend and a yield of 1.0%. W&T Offshore’s payout ratio is presently -4.21%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WTI. AXQ Capital LP acquired a new position in shares of W&T Offshore in the third quarter valued at approximately $28,000. StoneX Group Inc. acquired a new position in shares of W&T Offshore in the fourth quarter valued at approximately $28,000. Oxford Asset Management LLP acquired a new position in shares of W&T Offshore in the second quarter valued at approximately $29,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of W&T Offshore in the third quarter valued at approximately $30,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of W&T Offshore in the third quarter valued at approximately $32,000. 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.