W&T Offshore (NYSE:WTI) Trading Up 9.2% – What’s Next?

W&T Offshore, Inc. (NYSE:WTI) rose 9.2% on Tuesday . The company traded as high as $3.35 and last traded at $3.3750. Approximately 2,513,310 shares were traded during trading, a decline of 60% from the average session volume of 6,253,006 shares. The stock had previously closed at $3.09.

Wall Street Analyst Weigh In

WTI has been the subject of a number of analyst reports. Wall Street Zen downgraded W&T Offshore from a “buy” rating to a “hold” rating in a report on Saturday. William Blair started coverage on shares of W&T Offshore in a research note on Friday, April 17th. They set an “outperform” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

W&T Offshore Stock Performance

The company has a market cap of $506.59 million, a price-to-earnings ratio of -3.58 and a beta of 0.24. The firm’s 50 day simple moving average is $3.83 and its 200-day simple moving average is $2.95.

W&T Offshore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.04 dividend on an annualized basis and a yield of 1.2%. W&T Offshore’s payout ratio is presently -4.21%.

Institutional Trading of W&T Offshore

Several hedge funds have recently made changes to their positions in WTI. StoneX Group Inc. acquired a new position in shares of W&T Offshore in the fourth quarter worth $28,000. Oxford Asset Management LLP acquired a new stake in shares of W&T Offshore in the second quarter valued at $29,000. Dynamic Technology Lab Private Ltd purchased a new position in W&T Offshore in the third quarter valued at $32,000. Engineers Gate Manager LP purchased a new position in W&T Offshore in the fourth quarter valued at $32,000. Finally, Capricorn Fund Managers Ltd acquired a new position in W&T Offshore during the 1st quarter worth $34,000. 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 gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.