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

W&T Offshore, Inc. (NYSE:WTI)’s share price fell 5.2% during mid-day trading on Tuesday . The stock traded as low as $4.14 and last traded at $4.20. 1,724,003 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 6,665,959 shares. The stock had previously closed at $4.43.

Wall Street Analyst Weigh In

Several research analysts have issued reports on WTI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a report on Monday, April 20th. Wall Street Zen cut W&T Offshore from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Zacks Research cut shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Finally, William Blair initiated coverage on W&T Offshore in a research note on Friday, April 17th. They issued an “outperform” rating on the stock. Two 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. According to data from MarketBeat.com, W&T Offshore presently has an average rating of “Hold”.

W&T Offshore Trading Down 8.1%

The company has a market cap of $605.53 million, a PE ratio of -4.28 and a beta of 0.29. The stock has a 50 day moving average price of $3.59 and a 200 day moving average price of $2.59.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.17). The firm had revenue of $150.02 million during the quarter, compared to analyst estimates of $138.41 million. 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 disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Thursday, May 21st will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.04 annualized dividend and a yield of 1.0%. W&T Offshore’s dividend payout ratio is -4.21%.

Institutional Trading of W&T Offshore

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capricorn Fund Managers Ltd purchased a new position in shares of W&T Offshore during the 1st quarter valued at about $34,000. AXQ Capital LP acquired a new stake in W&T Offshore in the 3rd quarter worth about $28,000. Wealth Enhancement Advisory Services LLC purchased a new position in W&T Offshore in the 3rd quarter worth approximately $30,000. StoneX Group Inc. purchased a new stake in shares of W&T Offshore during the 4th quarter valued at approximately $28,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of W&T Offshore during the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors 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.