W&T Offshore (NYSE:WTI) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Shares of W&T Offshore, Inc. (NYSE:WTI) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.79 and traded as high as $1.94. W&T Offshore shares last traded at $1.9250, with a volume of 1,173,534 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a research report on Wednesday, October 8th. Wall Street Zen raised shares of W&T Offshore from a “sell” rating to a “hold” rating in a research note on Sunday, September 14th. Finally, Pareto Securities initiated coverage on W&T Offshore in a research report on Thursday, September 4th. They issued a “buy” rating for the company. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

W&T Offshore Stock Up 1.3%

The stock has a market capitalization of $286.40 million, a PE ratio of -2.53 and a beta of 0.59. The stock’s 50-day moving average is $1.99 and its 200 day moving average is $1.79.

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

W&T Offshore Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 19th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $0.04 dividend on an annualized basis and a yield of 2.1%. W&T Offshore’s payout ratio is -4.04%.

Institutional Investors Weigh In On W&T Offshore

Several institutional investors have recently made changes to their positions in WTI. AXQ Capital LP bought a new stake in shares of W&T Offshore in the 3rd quarter valued at approximately $28,000. Oxford Asset Management LLP acquired a new stake in W&T Offshore in the second quarter valued at approximately $29,000. HBK Sorce Advisory LLC bought a new stake in W&T Offshore in the third quarter worth approximately $30,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of W&T Offshore during the 3rd quarter worth $30,000. Finally, CWM LLC increased its stake 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 worth $31,000 after purchasing an additional 10,904 shares during the last quarter. 42.88% of the stock is currently owned by institutional investors and hedge funds.

W&T Offshore Company Profile

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.