W&T Offshore (NYSE:WTI) Trading 6.9% Higher – What’s Next?

W&T Offshore, Inc. (NYSE:WTI)’s share price was up 6.9% during trading on Monday . The stock traded as high as $3.65 and last traded at $3.6650. 595,042 shares were traded during mid-day trading, a decline of 90% from the average session volume of 5,961,405 shares. The stock had previously closed at $3.43.

Wall Street Analysts Forecast Growth

WTI has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a research report on Friday, July 17th. Wall Street Zen downgraded W&T Offshore from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Roth Capital set a $4.25 price target on shares of W&T Offshore in a research report on Tuesday, July 21st. Finally, William Blair initiated coverage on shares of W&T Offshore in a research report on Friday, April 17th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.25.

W&T Offshore Stock Up 8.7%

The stock’s 50 day moving average price is $3.49 and its two-hundred day moving average price is $3.26. The firm has a market capitalization of $562.56 million, a price-to-earnings ratio of -5.10 and a beta of 0.24.

W&T Offshore (NYSE:WTI) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $162.62 million during the quarter, compared to analysts’ expectations of $157.46 million. On average, equities analysts expect that W&T Offshore, Inc. will post -0.11 EPS for the current fiscal year.

W&T Offshore Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 19th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 19th. W&T Offshore’s payout ratio is currently -5.48%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in W&T Offshore during the second quarter valued at about $26,065,000. Deutsche Bank AG bought a new position in shares of W&T Offshore in the second quarter worth about $740,000. Simplicity Wealth LLC bought a new position in shares of W&T Offshore in the second quarter worth about $51,000. Bank of New York Mellon Corp acquired a new position in shares of W&T Offshore during the 2nd quarter worth about $3,592,000. Finally, State of Wyoming bought a new stake in W&T Offshore during the 2nd quarter valued at approximately $236,000. Institutional investors own 42.88% of the company’s stock.

W&T Offshore Company Profile

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.