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

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

Analysts Set New Price Targets

WTI has been the subject of several analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a research note on Friday, July 17th. Roth Capital set a $4.25 price target on shares of W&T Offshore in a research note on Tuesday, July 21st. 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 research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.25.

W&T Offshore Price Performance

The business has a fifty day moving average of $3.68 and a 200 day moving average of $3.57. The stock has a market cap of $584.89 million, a PE ratio of -5.31 and a beta of 0.28.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $162.62 million during the quarter, compared to the consensus estimate of $157.46 million. On average, equities research 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 dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.0%. W&T Offshore’s dividend payout ratio (DPR) is presently -5.48%.

Institutional Trading of W&T Offshore

Several institutional investors have recently added to or reduced their stakes in WTI. The Manufacturers Life Insurance Company boosted its stake in W&T Offshore by 12.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,642 shares of the oil and gas company’s stock valued at $90,000 after acquiring an additional 3,159 shares during the last quarter. Engineers Gate Manager LP increased its position in shares of W&T Offshore by 143.4% in the 2nd quarter. Engineers Gate Manager LP now owns 300,035 shares of the oil and gas company’s stock worth $945,000 after purchasing an additional 176,751 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of W&T Offshore in the 2nd quarter valued at about $2,008,000. Corient Private Wealth LP acquired a new stake in shares of W&T Offshore in the 2nd quarter valued at about $50,000. Finally, AXQ Capital LP raised its stake in shares of W&T Offshore by 61.6% in the 2nd quarter. AXQ Capital LP now owns 102,822 shares of the oil and gas company’s stock valued at $324,000 after purchasing an additional 39,213 shares in the last quarter. 42.88% of the stock is owned by institutional investors and hedge funds.

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.