W&T Offshore (NYSE:WTI) Shares Up 6.9% – What’s Next?

W&T Offshore, Inc. (NYSE:WTI) shot up 6.9% on Tuesday . The company traded as high as $3.98 and last traded at $4.0420. 965,215 shares traded hands during trading, a decline of 85% from the average session volume of 6,604,675 shares. The stock had previously closed at $3.78.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. William Blair assumed coverage on W&T Offshore in a research report on Friday, April 17th. They issued an “outperform” rating on the stock. Zacks Research downgraded W&T Offshore from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a research report on Monday, April 20th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

W&T Offshore Price Performance

The firm has a 50-day moving average price of $3.15 and a 200 day moving average price of $2.36. The company has a market cap of $627.11 million, a price-to-earnings ratio of -4.17 and a beta of 0.09.

W&T Offshore (NYSE:WTI) last posted its earnings results on Monday, March 16th. The oil and gas company reported ($0.14) EPS 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. On average, equities analysts anticipate that W&T Offshore, Inc. will post -0.22 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. Investors of record on Thursday, March 19th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, March 19th. W&T Offshore’s payout ratio is -3.96%.

Institutional Investors Weigh In On W&T Offshore

Several institutional investors have recently made changes to their positions in WTI. UBS Group AG boosted its stake in shares of W&T Offshore by 381.1% in the fourth 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 period. Goldman Sachs Group Inc. boosted 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 valued at $2,716,000 after buying an additional 894,221 shares during the period. Millennium Management LLC boosted its stake in shares of 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 buying an additional 647,596 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 buying an additional 508,050 shares during the period. Finally, First Trust Advisors LP bought a new stake in shares of W&T Offshore in the third quarter valued at approximately $853,000. 42.88% of the stock is currently 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.