W&T Offshore (NYSE:WTI) Shares Gap Up – What’s Next?
by Renee Jackson · The Cerbat GemShares of W&T Offshore, Inc. (NYSE:WTI – Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $3.68, but opened at $3.90. W&T Offshore shares last traded at $3.9950, with a volume of 2,198,943 shares trading hands.
Analyst Upgrades and Downgrades
Several research analysts have commented on WTI shares. Zacks Research cut shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a report on Monday, April 20th. William Blair started coverage on shares of W&T Offshore in a report on Friday, April 17th. They set an “outperform” rating for the company. Finally, Wall Street Zen upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating in a report on Saturday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.
Read Our Latest Stock Report on WTI
W&T Offshore Stock Performance
The firm has a market cap of $582.47 million, a PE ratio of -4.10 and a beta of 0.24. The firm’s 50-day moving average price is $3.64 and its two-hundred day moving average price is $2.64.
W&T Offshore (NYSE:WTI – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.17). The firm had revenue of $150.02 million for the quarter, compared to analyst estimates of $138.41 million. As a group, sell-side analysts predict that W&T Offshore, Inc. will post -0.12 earnings per share for the current fiscal year.
W&T Offshore Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Thursday, May 21st. W&T Offshore’s payout ratio is currently -4.21%.
Institutional Trading of W&T Offshore
Several institutional investors and hedge funds have recently bought and sold shares of WTI. AXQ Capital LP acquired a new stake in W&T Offshore during the 3rd quarter worth $28,000. StoneX Group Inc. acquired a new stake in W&T Offshore during the 4th quarter worth $28,000. Oxford Asset Management LLP acquired a new stake in W&T Offshore during the 2nd quarter worth $29,000. Wealth Enhancement Advisory Services LLC acquired a new stake in W&T Offshore during the 3rd quarter worth $30,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in W&T Offshore during the 3rd quarter worth $32,000. 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.