W&T Offshore (NYSE:WTI) Shares Up 6.9% - Here's Why

Key Points

• Shares jumped 6.9% intraday to $4.04, but trading was light at 965,215 shares (about an 85% decline versus average volume).
• Analyst sentiment is mixed—William Blair started coverage with an "outperform," Weiss Ratings kept a "sell (D-)," Zacks cut to "hold," and the MarketBeat consensus is "Hold".
• W&T remains unprofitable (EPS of -$0.14, negative P/E of -3.94) despite a revenue beat last quarter, and it pays a small quarterly dividend ($0.01, ~1.0% yield).

W&T Offshore, Inc. (NYSE:WTI - Get Free Report)'s stock price traded up 6.9% during trading on Tuesday . The company traded as high as $3.98 and last traded at $4.0420. 965,215 shares were traded during mid-day trading, a decline of 85% from the average session volume of 6,604,675 shares. The stock had previously closed at $3.78.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. William Blair assumed coverage on shares of W&T Offshore in a research report on Friday, April 17th. They issued an "outperform" rating on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of W&T Offshore in a research report on Monday, April 20th. Finally, Zacks Research lowered W&T Offshore from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 26th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold".

W&T Offshore Stock Performance

The firm has a market cap of $590.05 million, a price-to-earnings ratio of -3.94 and a beta of 0.09. The firm has a 50-day moving average price of $3.04 and a two-hundred day moving average price of $2.32.

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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.08). The company had revenue of $121.71 million for the quarter, compared to analysts' expectations of $115.36 million. Research analysts anticipate that W&T Offshore, Inc. will post -0.22 earnings per share for the current year.

W&T Offshore Dividend Announcement

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

Institutional Investors Weigh In On W&T Offshore

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

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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