W&T Offshore (NYSE:WTI) Price Target Raised to $7.80

W&T Offshore (NYSE:WTI) had its target price hoisted by Stifel Nicolaus from $7.50 to $7.80 in a research report report published on Tuesday, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

W&T Offshore Price Performance

NYSE:WTI opened at $2.33 on Tuesday. The business’s 50-day moving average price is $2.69 and its 200 day moving average price is $3.16. The firm has a market cap of $342.18 million, a P/E ratio of 23.30 and a beta of 1.52. W&T Offshore has a 52-week low of $2.30 and a 52-week high of $4.54. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 11.58.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Tuesday, March 5th. The oil and gas company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The company had revenue of $132.30 million during the quarter, compared to analysts’ expectations of $138.23 million. W&T Offshore had a negative return on equity of 71.70% and a net margin of 2.93%. The company’s revenue for the quarter was down 30.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. As a group, sell-side analysts predict that W&T Offshore will post -0.12 earnings per share for the current fiscal year.

W&T Offshore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 18th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $0.04 dividend on an annualized basis and a yield of 1.72%. W&T Offshore’s dividend payout ratio is currently 40.00%.

Hedge Funds Weigh In On W&T Offshore

A number of institutional investors have recently bought and sold shares of the stock. Octavia Wealth Advisors LLC increased its stake in W&T Offshore by 51.4% in the 4th quarter. Octavia Wealth Advisors LLC now owns 18,315 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 6,215 shares in the last quarter. Signaturefd LLC grew its stake in W&T Offshore by 907.2% during the 4th quarter. Signaturefd LLC now owns 8,390 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 7,557 shares in the last quarter. SG Americas Securities LLC grew its stake in W&T Offshore by 72.3% during the 4th quarter. SG Americas Securities LLC now owns 20,206 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 8,478 shares in the last quarter. Quadrant Capital Group LLC grew its stake in W&T Offshore by 131.6% during the 4th quarter. Quadrant Capital Group LLC now owns 15,607 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 8,869 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in W&T Offshore by 8.7% during the 3rd quarter. Deutsche Bank AG now owns 114,419 shares of the oil and gas company’s stock valued at $501,000 after acquiring an additional 9,146 shares in the last quarter. Hedge funds and other institutional investors own 42.88% of the company’s stock.

About W&T Offshore

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.