W&T Offshore (NYSE:WTI) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

W&T Offshore, Inc. (NYSE:WTI)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.79 and traded as high as $1.94. W&T Offshore shares last traded at $1.9250, with a volume of 1,173,534 shares.

Analyst Ratings Changes

WTI has been the subject of several recent analyst reports. Pareto Securities began coverage on W&T Offshore in a research note on Thursday, September 4th. They set a “buy” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a report on Wednesday, October 8th. Finally, Wall Street Zen raised W&T Offshore from a “sell” rating to a “hold” rating in a research report on Sunday, September 14th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

W&T Offshore Price Performance

The company has a market capitalization of $286.40 million, a P/E ratio of -2.53 and a beta of 0.59. The stock’s fifty day simple moving average is $1.99 and its 200-day simple moving average is $1.79.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The business had revenue of $127.52 million during the quarter, compared to the consensus estimate of $125.69 million. On average, research analysts predict that W&T Offshore, Inc. will post -0.45 earnings per share for the current year.

W&T Offshore Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 19th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 19th. W&T Offshore’s payout ratio is currently -4.04%.

Institutional Investors Weigh In On W&T Offshore

Hedge funds and other institutional investors have recently modified their holdings of the stock. Huber Capital Management LLC increased its position in W&T Offshore by 35.8% during the first quarter. Huber Capital Management LLC now owns 6,858,684 shares of the oil and gas company’s stock worth $10,631,000 after acquiring an additional 1,808,234 shares during the period. Vanguard Group Inc. grew its position in W&T Offshore by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,828,361 shares of the oil and gas company’s stock worth $12,428,000 after purchasing an additional 19,283 shares during the last quarter. Millennium Management LLC increased its holdings in shares of W&T Offshore by 24.2% during the 1st quarter. Millennium Management LLC now owns 3,071,610 shares of the oil and gas company’s stock worth $4,761,000 after purchasing an additional 598,614 shares during the period. Geode Capital Management LLC raised its position in shares of W&T Offshore by 2.3% during the second quarter. Geode Capital Management LLC now owns 2,341,646 shares of the oil and gas company’s stock valued at $3,864,000 after buying an additional 52,982 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of W&T Offshore by 11.2% during the first quarter. Russell Investments Group Ltd. now owns 1,284,183 shares of the oil and gas company’s stock valued at $1,990,000 after buying an additional 129,564 shares during the last quarter. Institutional investors and hedge funds own 42.88% of the company’s stock.

W&T Offshore Company Profile

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.