W&T Offshore (NYSE:WTI) Reaches New 12-Month High – Here’s Why

W&T Offshore, Inc. (NYSE:WTI)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $5.08 and last traded at $4.7250, with a volume of 7295721 shares changing hands. The stock had previously closed at $4.91.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Sunday. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a research note on Monday, April 20th. William Blair assumed coverage on shares of W&T Offshore in a research note on Friday, April 17th. They issued an “outperform” rating on the stock. Finally, Zacks Research lowered shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, W&T Offshore has an average rating of “Hold”.

W&T Offshore Stock Performance

The business’s 50 day moving average price is $3.47 and its 200-day moving average price is $2.52. The firm has a market cap of $702.99 million, a price-to-earnings ratio of -4.97 and a beta of 0.29.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The company had revenue of $150.02 million for the quarter, compared to analyst estimates of $138.41 million. On average, analysts forecast that W&T Offshore, Inc. will post -0.11 earnings per share for the current fiscal year.

W&T Offshore Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Thursday, May 21st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, May 21st. W&T Offshore’s dividend payout ratio is currently -4.21%.

Institutional Investors Weigh In On W&T Offshore

Institutional investors have recently modified their holdings of the business. Capricorn Fund Managers Ltd bought a new stake in shares of W&T Offshore during the 1st quarter valued at about $34,000. AXQ Capital LP bought a new stake in shares of W&T Offshore during the 3rd quarter valued at about $28,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of W&T Offshore during the 3rd quarter valued at about $30,000. CWM LLC grew its position in shares of W&T Offshore by 181.6% during the 3rd quarter. CWM LLC now owns 16,908 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 10,904 shares during the last quarter. Finally, StoneX Group Inc. bought a new stake in shares of W&T Offshore during the 4th quarter valued at about $28,000. 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.