W&T Offshore (NYSE:WTI) Shares Gap Down - Should You Sell?

Key Points

• Shares gapped down premarket, falling from a $4.21 close to a $3.83 open and trading around $3.875 with roughly 1.37M shares changing hands.
• Analyst coverage is mixed and the MarketBeat consensus is a "Hold" (2 Buys, 1 Hold, 1 Sell), with recent moves including a Zacks downgrade and William Blair initiating coverage at Outperform.
• The company missed EPS for the quarter (‑$0.14 vs. est. ‑$0.06) despite a revenue beat; WTI has a negative P/E, ~ $565M market cap, and pays a small $0.01 quarterly dividend (~1.1% yield).

W&T Offshore, Inc. (NYSE:WTI - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $4.21, but opened at $3.83. W&T Offshore shares last traded at $3.8750, with a volume of 1,372,229 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Zacks Research downgraded shares of W&T Offshore from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 26th. Weiss Ratings reissued a "sell (d-)" rating on shares of W&T Offshore in a report on Monday, April 20th. Finally, William Blair started coverage on shares of W&T Offshore in a report on Friday, April 17th. They set an "outperform" rating on the stock. 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Hold".

W&T Offshore Price Performance

The business has a 50 day moving average price of $3.18 and a two-hundred day moving average price of $2.38. The stock has a market cap of $564.62 million, a PE ratio of -3.76 and a beta of 0.29.

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

W&T Offshore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 19th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, March 19th. This represents a $0.04 annualized dividend and a dividend yield of 1.1%. W&T Offshore's dividend payout ratio (DPR) is presently -3.96%.

Institutional Trading of W&T Offshore

Hedge funds have recently modified their holdings of the company. Invesco Ltd. increased its position in shares of W&T Offshore by 1.4% during the 4th quarter. Invesco Ltd. now owns 312,081 shares of the oil and gas company's stock valued at $509,000 after purchasing an additional 4,241 shares during the last quarter. Octavia Wealth Advisors LLC grew its position in shares of W&T Offshore by 20.4% during the 3rd quarter. Octavia Wealth Advisors LLC now owns 31,500 shares of the oil and gas company's stock worth $57,000 after buying an additional 5,340 shares in the last quarter. Graham Capital Management L.P. grew its position in shares of W&T Offshore by 7.6% during the 4th quarter. Graham Capital Management L.P. now owns 87,530 shares of the oil and gas company's stock worth $143,000 after buying an additional 6,195 shares in the last quarter. NewEdge Advisors LLC grew its position in shares of W&T Offshore by 21.7% during the 3rd quarter. NewEdge Advisors LLC now owns 36,610 shares of the oil and gas company's stock worth $67,000 after buying an additional 6,524 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in W&T Offshore by 42.7% in the second quarter. Raymond James Financial Inc. now owns 21,957 shares of the oil and gas company's stock valued at $36,000 after buying an additional 6,569 shares during the last quarter. 42.88% of the stock is owned by hedge funds and other institutional investors.

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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