W&T Offshore (NYSE:WTI) Sets New 1-Year High – Should You Buy?

W&T Offshore, Inc. (NYSE:WTI) reached a new 52-week high on Monday . The stock traded as high as $4.04 and last traded at $3.73, with a volume of 9865057 shares traded. The stock had previously closed at $3.14.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a report on Wednesday, January 21st. Zacks Research cut shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. 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 stock. Based on data from MarketBeat.com, W&T Offshore currently has an average rating of “Hold”.

W&T Offshore Price Performance

The stock has a market cap of $549.00 million, a PE ratio of -3.73 and a beta of 0.26. The stock has a 50-day simple moving average of $2.17 and a 200-day simple moving average of $1.99.

W&T Offshore Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 19th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, March 19th. W&T Offshore’s dividend payout ratio is -4.04%.

Institutional Investors Weigh In On W&T Offshore

Several institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its position in shares of W&T Offshore by 309.7% in the first quarter. AQR Capital Management LLC now owns 120,911 shares of the oil and gas company’s stock worth $187,000 after acquiring an additional 91,400 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of W&T Offshore by 24.2% during the 1st quarter. Millennium Management LLC now owns 3,071,610 shares of the oil and gas company’s stock valued at $4,761,000 after acquiring an additional 598,614 shares in the last quarter. Jane Street Group LLC boosted its position in W&T Offshore by 826.2% during the 1st quarter. Jane Street Group LLC now owns 324,807 shares of the oil and gas company’s stock worth $503,000 after purchasing an additional 289,739 shares during the period. Geode Capital Management LLC increased its holdings in W&T Offshore by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,341,646 shares of the oil and gas company’s stock valued at $3,864,000 after purchasing an additional 52,982 shares in the last quarter. Finally, Creative Planning raised its position in W&T Offshore by 42.3% in the second quarter. Creative Planning now owns 42,885 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 12,749 shares during the period. 42.88% of the stock is currently owned by hedge funds and other institutional investors.

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.