Shares of W&T Offshore, Inc. (NYSE:WTI - Get Free Report) traded up 5.2% during trading on Thursday. The stock traded as high as $3.31 and last traded at $3.3250. 1,851,675 shares changed hands during trading, a decline of 65% from the average session volume of 5,316,098 shares. The stock had previously closed at $3.16.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the stock. Roth Capital set a $4.25 price objective on shares of W&T Offshore in a report on Tuesday, July 21st. Zacks Research upgraded shares of W&T Offshore from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of W&T Offshore in a research note on Thursday, October 15th. Finally, Wall Street Zen upgraded shares of W&T Offshore from a "hold" rating to a "buy" rating in a research report on Saturday, October 31st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, W&T Offshore presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.25.
Check Out Our Latest Report on W&T Offshore
W&T Offshore Stock Performance
The firm has a 50-day moving average of $3.74 and a 200-day moving average of $3.45. The firm has a market capitalization of $516.57 million, a P/E ratio of -9.78 and a beta of 0.30.
W&T Offshore (NYSE:WTI - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.07. The company had revenue of $167.08 million during the quarter, compared to the consensus estimate of $144.97 million. Equities analysts anticipate that W&T Offshore, Inc. will post -0.05 EPS for the current fiscal year.
W&T Offshore Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, November 12th. W&T Offshore's dividend payout ratio is currently -11.76%.
Institutional Investors Weigh In On W&T Offshore
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of W&T Offshore during the second quarter valued at about $26,065,000. Bank of New York Mellon Corp bought a new stake in shares of W&T Offshore in the second quarter worth about $3,592,000. Russell Investments Group Ltd. grew its stake in shares of W&T Offshore by 481.1% in the third quarter. Russell Investments Group Ltd. now owns 1,302,010 shares of the oil and gas company's stock worth $4,648,000 after purchasing an additional 1,077,963 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in W&T Offshore in the 2nd quarter worth approximately $3,353,000. Finally, Algert Global LLC lifted its holdings in W&T Offshore by 185.8% in the 2nd quarter. Algert Global LLC now owns 1,589,137 shares of the oil and gas company's stock worth $5,006,000 after buying an additional 1,033,167 shares during the period. Institutional investors own 42.88% of the company's stock.
W&T Offshore Company Profile
(
Get Free Report)
W&T Offshore, Inc. is an independent oil and natural gas company focused on exploring for, developing, acquiring and producing energy resources in the Gulf of Mexico. Its operations include offshore properties in both shallow-water and deepwater areas. The company's production includes crude oil, natural gas and natural gas liquids. W&T Offshore holds interests in offshore leases and related infrastructure, supporting its exploration and production activities. Founded in 1983 by Tracy W. Krohn, the company is headquartered in Houston, Texas.
Further Reading
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