W&T Offshore, Inc. (NYSE:WTI - Get Free Report)'s share price traded up 6.7% during trading on Monday . The company traded as high as $3.63 and last traded at $3.5950. 3,255,392 shares were traded during trading, a decline of 48% from the average daily volume of 6,226,578 shares. The stock had previously closed at $3.37.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Wall Street Zen downgraded W&T Offshore from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. William Blair initiated coverage on W&T Offshore in a research report on Friday, April 17th. They issued an "outperform" rating on the stock. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of W&T Offshore in a research note 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 given a Sell rating to the stock. Based on data from MarketBeat, W&T Offshore currently has an average rating of "Hold".
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W&T Offshore Price Performance
The company has a market capitalization of $534.86 million, a price-to-earnings ratio of -3.78 and a beta of 0.24. The firm's fifty day moving average price is $3.78 and its 200-day moving average price is $3.00.
W&T Offshore Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were given a $0.01 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.04 annualized dividend and a yield of 1.1%. W&T Offshore's dividend payout ratio (DPR) is currently -4.21%.
Institutional Trading of W&T Offshore
Hedge funds and other institutional investors have recently made changes to their positions in the company. Capricorn Fund Managers Ltd acquired a new position in shares of W&T Offshore in the first quarter valued at approximately $34,000. StoneX Group Inc. acquired a new stake in W&T Offshore during the 4th quarter worth approximately $28,000. Dynamic Technology Lab Private Ltd acquired a new stake in W&T Offshore during the 3rd quarter worth approximately $32,000. Oxford Asset Management LLP bought a new stake in W&T Offshore during the 2nd quarter worth approximately $29,000. Finally, Walleye Capital LLC bought a new stake in W&T Offshore during the 1st quarter worth approximately $62,000. 42.88% of the stock is currently owned by institutional investors.
About W&T Offshore
(
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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.
Further Reading
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