W&T Offshore (NYSE:WTI) Stock Price Up 5.2% – What’s Next?

W&T Offshore, Inc. (NYSE:WTI)’s share price rose 5.2% during trading on Thursday. The company traded as high as $3.31 and last traded at $3.3250. Approximately 1,851,675 shares traded hands during trading, a decline of 65% from the average session volume of 5,316,098 shares. The stock had previously closed at $3.16.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WTI. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a research note on Thursday, October 15th. Wall Street Zen raised shares of W&T Offshore from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Roth Capital set a $4.25 price objective on shares of W&T Offshore in a research report on Tuesday, July 21st. Finally, Zacks Research upgraded shares of W&T Offshore from a “hold” rating to a “strong-buy” rating in a report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy 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 “Moderate Buy” and an average price target of $4.25.

W&T Offshore Stock Up 5.5%

The company’s fifty day simple moving average is $3.74 and its 200 day simple moving average is $3.45. The firm has a market capitalization of $516.57 million, a PE ratio of -9.78 and a beta of 0.30.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.07. The firm had revenue of $167.08 million for the quarter, compared to the consensus estimate of $144.97 million. Equities research analysts forecast that W&T Offshore, Inc. will post -0.05 EPS for the current year.

W&T Offshore Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Shareholders of record on Thursday, November 12th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $0.04 annualized dividend and a yield of 1.2%. W&T Offshore’s dividend payout ratio (DPR) is currently -11.76%.

Institutional Trading of W&T Offshore

A number of hedge funds have recently made changes to their positions in WTI. BlackRock Inc. purchased a new stake in shares of W&T Offshore in the second quarter worth $26,065,000. State Street Corp raised its position in shares of W&T Offshore by 0.5% in the 3rd quarter. State Street Corp now owns 2,525,847 shares of the oil and gas company’s stock worth $9,017,000 after purchasing an additional 12,124 shares during the last quarter. Algert Global LLC boosted its stake in W&T Offshore by 185.8% in the 2nd quarter. Algert Global LLC now owns 1,589,137 shares of the oil and gas company’s stock worth $5,006,000 after purchasing an additional 1,033,167 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in W&T Offshore by 481.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,302,010 shares of the oil and gas company’s stock worth $4,648,000 after purchasing an additional 1,077,963 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in W&T Offshore by 10.4% during the 1st quarter. Bank of New York Mellon Corp now owns 1,137,443 shares of the oil and gas company’s stock valued at $3,879,000 after purchasing an additional 106,779 shares during the last quarter. 42.88% of the stock is owned by institutional investors.

W&T Offshore Company Profile

W&T Offshore, Inc. is an independent oil and natural gas company focused on exploring for, developing, acquiring and producing energy resources in the Gulf of Mexico. Its operations include offshore properties in both shallow-water and deepwater areas. The company’s production includes crude oil, natural gas and natural gas liquids. W&T Offshore holds interests in offshore leases and related infrastructure, supporting its exploration and production activities. Founded in 1983 by Tracy W. Krohn, the company is headquartered in Houston, Texas.