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

W&T Offshore, Inc. (NYSE:WTI) shares crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $3.67 and traded as high as $3.97. W&T Offshore shares last traded at $3.9550, with a volume of 4,504,758 shares traded.

Analyst Ratings Changes

Several analysts have commented on WTI shares. Roth Capital set a $4.25 price objective on shares of W&T Offshore in a research note on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a research note on Thursday, October 15th. Finally, Wall Street Zen lowered shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. One analyst has 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. Based on data from MarketBeat, W&T Offshore has a consensus rating of “Hold” and an average target price of $4.25.

W&T Offshore Price Performance

The company has a market capitalization of $586.40 million, a price-to-earnings ratio of -5.32 and a beta of 0.35. The stock has a fifty day simple moving average of $3.78 and a 200-day simple moving average of $3.68.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $162.62 million for the quarter, compared to analyst estimates of $157.46 million. As a group, equities analysts expect that W&T Offshore, Inc. will post -0.09 EPS for the current fiscal year.

W&T Offshore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 19th were issued 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 yield of 1.0%. W&T Offshore’s dividend payout ratio is -5.48%.

Institutional Trading of W&T Offshore

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

About W&T Offshore

W&T Offshore, Inc is an independent oil and natural gas exploration and production company focused on 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 have included assets in the federal and state waters of the Gulf of Mexico, spanning shelf and deepwater areas. Its activities include acquiring exploration and production interests, drilling and completing wells, and managing offshore production and related infrastructure.

Founded in 1983 by Tracy W.