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

Shares of W&T Offshore, Inc. (NYSE:WTI) traded up 5.2% during trading on Thursday. The stock traded as high as $3.31 and last traded at $3.3250. 1,851,675 shares changed 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 Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Roth Capital set a $4.25 price objective on shares of W&T Offshore in a report on Tuesday, July 21st. Zacks Research upgraded shares of W&T Offshore from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a research note on Thursday, October 15th. Finally, Wall Street Zen upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, W&T Offshore presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.25.

W&T Offshore Stock Performance

The firm has a 50-day moving average of $3.74 and a 200-day moving average of $3.45. The firm has a market capitalization of $516.57 million, a P/E ratio of -9.78 and a beta of 0.30.

W&T Offshore (NYSE:WTI) last announced 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 company had revenue of $167.08 million during the quarter, compared to the consensus estimate of $144.97 million. Equities analysts anticipate that W&T Offshore, Inc. will post -0.05 EPS for the current fiscal year.

W&T Offshore Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, November 12th. W&T Offshore’s dividend payout ratio is currently -11.76%.

Institutional Investors Weigh In On W&T Offshore

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of W&T Offshore during the second quarter valued at about $26,065,000. Bank of New York Mellon Corp bought a new stake in shares of W&T Offshore in the second quarter worth about $3,592,000. Russell Investments Group Ltd. grew its stake in shares of W&T Offshore by 481.1% in the third 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in W&T Offshore in the 2nd quarter worth approximately $3,353,000. Finally, Algert Global LLC lifted its holdings 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 buying an additional 1,033,167 shares during the period. Institutional investors own 42.88% of the company’s stock.

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.