W&T Offshore (NYSE:WTI) Stock Price Up 3.9% - What's Next?

Key Points

• W&T Offshore shares rose 3.9% to approximately $4.16, although trading volume was 92% below the average session volume.
• Analyst sentiment remains mixed, with one Buy, one Hold, and one Sell rating; the consensus is Hold with a $4.25 price target.
• The company reported quarterly EPS of $0.02, below the $0.04 consensus estimate, while revenue of $162.62 million exceeded expectations. W&T Offshore also pays a quarterly dividend of $0.01, representing a 0.9% annual yield.

W&T Offshore, Inc. (NYSE:WTI - Get Free Report)'s stock price shot up 3.9% during trading on Tuesday . The stock traded as high as $4.20 and last traded at $4.1550. 423,488 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 5,606,678 shares. The stock had previously closed at $4.00.

Wall Street Analysts Forecast Growth

WTI has been the topic of several research analyst reports. Wall Street Zen cut shares of W&T Offshore from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of W&T Offshore in a research note on Friday, July 17th. Finally, Roth Capital set a $4.25 target price on W&T Offshore in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, W&T Offshore currently has an average rating of "Hold" and an average target price of $4.25.

W&T Offshore Price Performance

The firm's 50 day simple moving average is $3.66 and its two-hundred day simple moving average is $3.55. The firm has a market capitalization of $643.77 million, a P/E ratio of -5.84 and a beta of 0.28.

W&T Offshore (NYSE:WTI - Get Free Report) last announced 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 firm had revenue of $162.62 million during the quarter, compared to analysts' expectations of $157.46 million. As a group, equities research analysts forecast that W&T Offshore, Inc. will post -0.08 EPS for the current year.

W&T Offshore Announces Dividend

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

Institutional Trading of W&T Offshore

Several hedge funds and other institutional investors have recently bought and sold shares of WTI. Legal & General Group Plc bought a new stake in shares of W&T Offshore in the second quarter worth about $28,000. Capricorn Fund Managers Ltd purchased a new position in W&T Offshore during the 1st quarter valued at about $34,000. Nierenberg Investment Management Company LLC bought a new position in W&T Offshore during the 2nd quarter valued at approximately $42,698. Corient Private Wealth LP bought a new position in W&T Offshore during the 2nd quarter valued at approximately $45,000. Finally, Callan Family Office LLC purchased a new stake in W&T Offshore in the 2nd quarter worth approximately $47,000. Institutional investors own 42.88% of the company's stock.

W&T Offshore Company Profile

W&T Offshore, Inc is an independent oil and natural gas exploration and production company focused primarily on assets in the U.S. Gulf of Mexico. The company explores for, develops, and produces crude oil, natural gas, and natural gas liquids from offshore properties.

W&T Offshore's operations include interests in producing fields and prospective exploration areas across the Gulf of Mexico, including shallow-water and deepwater assets. Its activities cover the full upstream lifecycle, including geological evaluation, drilling, field development, production, and asset management.

Founded in 1983 by Tracy W.

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