W&T Offshore (NYSE:WTI) Hits New 12-Month High - Should You Buy?

Key Points

• W&T Offshore hit a new 52-week high, trading intraday as high as $4.12 and last at $3.9950 on heavy volume (~7.17 million shares).
• Analyst coverage is mixed with an average rating of "Hold"—two Buys, one Hold and one Sell—while William Blair recently initiated coverage with an Outperform and Weiss Ratings reaffirmed a Sell.
• The company reported an earnings miss (EPS -$0.14 vs. -$0.06 expected) but beat revenue estimates ($121.7M vs. $115.4M); it has a market cap of ~$594M, a negative P/E (-3.96) and pays a modest quarterly dividend ($0.01, ~1.0% yield).

W&T Offshore, Inc. (NYSE:WTI - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $4.12 and last traded at $3.9950, with a volume of 7168026 shares traded. The stock had previously closed at $3.78.

Analyst Ratings Changes

WTI has been the topic of a number of analyst reports. William Blair initiated coverage on W&T Offshore in a research report on Friday, April 17th. They set an "outperform" rating on the stock. Zacks Research lowered W&T Offshore from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of W&T Offshore in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, W&T Offshore currently has an average rating of "Hold".

W&T Offshore Price Performance

The stock has a market capitalization of $594.38 million, a P/E ratio of -3.96 and a beta of 0.09. The company has a fifty day moving average of $3.07 and a two-hundred day moving average of $2.33.

W&T Offshore (NYSE:WTI - Get Free Report) last announced its quarterly earnings data on Monday, March 16th. The oil and gas company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The company had revenue of $121.71 million during the quarter, compared to analysts' expectations of $115.36 million. As a group, equities research analysts predict that W&T Offshore, Inc. will post -0.22 EPS for the current fiscal year.

W&T Offshore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 19th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, March 19th. W&T Offshore's payout ratio is currently -3.96%.

Institutional Trading of W&T Offshore

Several hedge funds and other institutional investors have recently bought and sold shares of WTI. AXQ Capital LP acquired a new position in W&T Offshore in the third quarter valued at approximately $28,000. StoneX Group Inc. acquired a new position in W&T Offshore in the fourth quarter valued at approximately $28,000. Oxford Asset Management LLP acquired a new position in W&T Offshore in the second quarter valued at approximately $29,000. HBK Sorce Advisory LLC acquired a new position in W&T Offshore in the third quarter valued at approximately $30,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in W&T Offshore in the third quarter valued at approximately $30,000. 42.88% of the stock is owned by institutional investors.

W&T Offshore Company Profile

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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