W&T Offshore (NYSE:WTI) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of W&T Offshore, Inc. (NYSE:WTI) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.85 and traded as high as $2.25. W&T Offshore shares last traded at $2.2450, with a volume of 3,159,666 shares.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WTI. Zacks Research upgraded W&T Offshore from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, W&T Offshore currently has an average rating of “Moderate Buy”.

W&T Offshore Stock Performance

The firm has a market capitalization of $322.11 million, a price-to-earnings ratio of -2.19 and a beta of 0.32. The business’s 50 day moving average is $1.77 and its 200-day moving average is $1.85.

W&T Offshore (NYSE:WTI) last released its earnings results on Wednesday, November 5th. The oil and gas company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The firm had revenue of $127.52 million for the quarter, compared to analyst estimates of $125.69 million. Equities research analysts forecast that W&T Offshore, Inc. will post -0.45 EPS for the current fiscal year.

W&T Offshore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 19th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, November 19th. W&T Offshore’s payout ratio is currently -4.04%.

Institutional Trading of W&T Offshore

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG grew its holdings in shares of W&T Offshore by 381.1% in the 4th quarter. UBS Group AG now owns 2,400,024 shares of the oil and gas company’s stock worth $3,912,000 after purchasing an additional 1,901,213 shares during the last quarter. Millennium Management LLC grew its stake in W&T Offshore by 33.9% during the third quarter. Millennium Management LLC now owns 2,560,561 shares of the oil and gas company’s stock worth $4,660,000 after buying an additional 647,596 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of W&T Offshore during the third quarter worth approximately $853,000. Fisher Asset Management LLC raised its stake in shares of W&T Offshore by 55.7% in the second quarter. Fisher Asset Management LLC now owns 882,842 shares of the oil and gas company’s stock valued at $1,457,000 after acquiring an additional 315,901 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of W&T Offshore by 826.2% in the 1st quarter. Jane Street Group LLC now owns 324,807 shares of the oil and gas company’s stock worth $503,000 after acquiring an additional 289,739 shares in the last quarter. Institutional investors own 42.88% of the company’s stock.

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.