Shares of W&T Offshore, Inc. (NYSE:WTI - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.58 and traded as high as $1.71. W&T Offshore shares last traded at $1.68, with a volume of 1,516,127 shares changing hands.
Analysts Set New Price Targets
Separately, Wall Street Zen lowered shares of W&T Offshore from a "hold" rating to a "sell" rating in a research report on Sunday, June 22nd.
Read Our Latest Stock Report on WTI
W&T Offshore Stock Up 0.9%
The company's 50-day moving average price is $1.71 and its 200-day moving average price is $1.58. The firm has a market cap of $250.27 million, a price-to-earnings ratio of -2.35 and a beta of 0.68.
W&T Offshore (NYSE:WTI - Get Free Report) last announced its earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. The company had revenue of $129.87 million during the quarter, compared to analyst estimates of $123.91 million. Analysts predict that W&T Offshore, Inc. will post -0.45 earnings per share for the current fiscal year.
W&T Offshore Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 20th were given a dividend of $0.01 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.04 dividend on an annualized basis and a yield of 2.36%. W&T Offshore's payout ratio is presently -5.56%.
Hedge Funds Weigh In On W&T Offshore
Institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new position in W&T Offshore during the fourth quarter worth about $32,000. US Bancorp DE purchased a new stake in W&T Offshore during the 4th quarter worth approximately $33,000. Ethic Inc. purchased a new stake in W&T Offshore during the 4th quarter worth approximately $36,000. Boothbay Fund Management LLC acquired a new position in W&T Offshore during the 4th quarter worth approximately $41,000. Finally, RPO LLC acquired a new position in W&T Offshore during the 4th quarter worth approximately $55,000. 42.88% of the stock is currently owned by institutional investors and hedge funds.
W&T Offshore Company Profile
(
Get Free Report)
W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.
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