W&T Offshore (NYSE:WTI) Trading 4.7% Higher - Should You Buy?

Key Points

• W&T Offshore shares rose 4.7% to about $3.92, though trading volume was 89% below the average daily level.
• 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 narrowly missed quarterly EPS estimates, reporting $0.02 versus expectations of $0.04, while revenue exceeded forecasts at $162.62 million. Analysts anticipate a full-year loss of $0.10 per share.

W&T Offshore, Inc. (NYSE:WTI - Get Free Report) was up 4.7% on Thursday . The stock traded as high as $3.89 and last traded at $3.9150. 609,779 shares changed hands during trading, a decline of 89% from the average daily volume of 5,542,496 shares. The stock had previously closed at $3.74.

Wall Street Analysts Forecast Growth

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

W&T Offshore Stock Performance

The company has a market cap of $587.92 million, a P/E ratio of -5.34 and a beta of 0.28. The stock has a 50-day simple moving average of $3.71 and a 200 day simple moving average of $3.60.

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 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 analyst estimates of $157.46 million. Sell-side analysts anticipate that W&T Offshore, Inc. will post -0.1 earnings per share for the current fiscal year.

W&T Offshore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 19th were paid a $0.01 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.0%. W&T Offshore's dividend payout ratio is currently -5.48%.

Hedge Funds Weigh In On W&T Offshore

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its stake in shares of W&T Offshore by 12.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,642 shares of the oil and gas company's stock worth $90,000 after acquiring an additional 3,159 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of W&T Offshore in the second quarter valued at approximately $28,000. Capricorn Fund Managers Ltd bought a new stake in shares of W&T Offshore in the first quarter worth $34,000. Nierenberg Investment Management Company LLC acquired a new position in W&T Offshore during the second quarter worth $42,698. Finally, Corient Private Wealth LP acquired a new position in W&T Offshore during the second quarter worth $45,000. 42.88% of the stock is owned by institutional investors.

About W&T Offshore

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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