W&T Offshore (NYSE:WTI) Trading Up 3.9% – Time to Buy?

W&T Offshore, Inc. (NYSE:WTI) shares shot up 3.9% during mid-day trading on Tuesday . The stock traded as high as $4.20 and last traded at $4.1550. Approximately 423,488 shares were traded during trading, a decline of 92% from the average session volume of 5,606,678 shares. The stock had previously closed at $4.00.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WTI. Roth Capital set a $4.25 price target on W&T Offshore in a research note on Tuesday, July 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a research report on Friday, July 17th. Finally, Wall Street Zen lowered shares of W&T Offshore from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.25.

W&T Offshore Stock Performance

The company has a market capitalization of $643.77 million, a PE ratio of -5.84 and a beta of 0.28. The business’s 50-day moving average is $3.66 and its 200-day moving average is $3.55.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $162.62 million for the quarter, compared to analyst estimates of $157.46 million. Analysts expect that W&T Offshore, Inc. will post -0.08 EPS for the current year.

W&T Offshore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 19th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, August 19th. W&T Offshore’s payout ratio is currently -5.48%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WTI. BlackRock Inc. bought a new stake in W&T Offshore in the second quarter worth $26,065,000. UBS Group AG grew 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 worth $3,912,000 after acquiring an additional 1,901,213 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of W&T Offshore during the second quarter valued at $3,592,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of W&T Offshore during the second quarter valued at $3,353,000. Finally, Algert Global LLC raised its position in shares of W&T Offshore by 185.8% in the 2nd quarter. Algert Global LLC now owns 1,589,137 shares of the oil and gas company’s stock worth $5,006,000 after purchasing an additional 1,033,167 shares during the last quarter. Hedge funds and other institutional investors own 42.88% of the company’s stock.

W&T Offshore Company Profile

W&T Offshore, Inc is an independent oil and natural gas exploration and production company focused primarily on assets in the U.S. Gulf of Mexico. The company explores for, develops, and produces crude oil, natural gas, and natural gas liquids from offshore properties.

W&T Offshore’s operations include interests in producing fields and prospective exploration areas across the Gulf of Mexico, including shallow-water and deepwater assets. Its activities cover the full upstream lifecycle, including geological evaluation, drilling, field development, production, and asset management.

Founded in 1983 by Tracy W.