W&T Offshore (NYSE:WTI) Shares Gap Up - Still a Buy?

Key Points

• W&T Offshore shares opened higher, rising from a prior close of $4.06 to $4.17 before trading near $4.08; the stock was reported up 5.8%.
• Analyst sentiment is mixed, with one Buy, one Hold and one Sell rating. The consensus is Hold, with an average price target of $4.25.
• The company reported quarterly EPS of $0.02, below the $0.04 consensus estimate, although revenue of $162.62 million exceeded expectations. W&T also paid a $0.01 quarterly dividend, equal to a 0.9% annualized yield.

W&T Offshore, Inc. (NYSE:WTI - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $4.06, but opened at $4.17. W&T Offshore shares last traded at $4.0780, with a volume of 483,809 shares changing hands.

Analysts Set New Price Targets

Several analysts recently commented on WTI shares. Wall Street Zen downgraded shares of W&T Offshore from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Weiss Ratings reiterated a "sell (d-)" rating on shares of W&T Offshore in a research report on Friday, July 17th. Finally, Roth Capital set a $4.25 price target on shares of W&T Offshore in a research note on Tuesday, July 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $4.25.

W&T Offshore Trading Up 5.8%

The stock has a market capitalization of $648.29 million, a P/E ratio of -5.84 and a beta of 0.28. The stock has a 50 day moving average of $3.60 and a 200-day moving average of $3.51.

W&T Offshore (NYSE:WTI - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $162.62 million during the quarter, compared to the consensus estimate of $157.46 million. Research analysts anticipate that W&T Offshore, Inc. will post -0.09 EPS for the current year.

W&T Offshore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 19th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.9%. W&T Offshore's payout ratio is -5.48%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new stake in W&T Offshore during the second quarter worth $28,000. StoneX Group Inc. acquired a new stake in shares of W&T Offshore during the 4th quarter valued at about $28,000. Oxford Asset Management LLP acquired a new stake in shares of W&T Offshore during the 2nd quarter valued at about $29,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of W&T Offshore in the 3rd quarter valued at about $32,000. Finally, Engineers Gate Manager LP purchased a new position in shares of W&T Offshore in the 4th quarter valued at about $32,000. 42.88% of the stock is owned by institutional investors and hedge funds.

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.

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