W&T Offshore (NYSE:WTI) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

W&T Offshore, Inc. (NYSE:WTI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.57 and traded as high as $1.86. W&T Offshore shares last traded at $1.86, with a volume of 2,044,828 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen lowered W&T Offshore from a "hold" rating to a "sell" rating in a research note on Sunday, June 22nd.

W&T Offshore Price Performance

The firm has a market capitalization of $267.25 million, a price-to-earnings ratio of -2.51 and a beta of 0.68. The firm has a 50 day moving average price of $1.67 and a 200-day moving average price of $1.58.

W&T Offshore (NYSE:WTI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.01. The firm had revenue of $129.87 million for the quarter, compared to analysts' expectations of $123.91 million. Equities research analysts predict that W&T Offshore, Inc. will post -0.45 earnings per share for the current year.

W&T Offshore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 20th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.04 annualized dividend and a dividend yield of 2.21%. W&T Offshore's dividend payout ratio is presently -5.56%.

Institutional Trading of W&T Offshore

A number of institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its stake in W&T Offshore by 24.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,829 shares of the oil and gas company's stock worth $67,000 after acquiring an additional 7,776 shares during the period. Inspire Advisors LLC lifted its position in W&T Offshore by 10.0% in the 1st quarter. Inspire Advisors LLC now owns 120,643 shares of the oil and gas company's stock worth $187,000 after buying an additional 10,962 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of W&T Offshore by 39.9% during the 4th quarter. Wells Fargo & Company MN now owns 46,419 shares of the oil and gas company's stock valued at $77,000 after purchasing an additional 13,237 shares in the last quarter. Barclays PLC lifted its position in shares of W&T Offshore by 11.0% during the 4th quarter. Barclays PLC now owns 156,226 shares of the oil and gas company's stock worth $259,000 after purchasing an additional 15,445 shares during the last quarter. Finally, R Squared Ltd increased its holdings in shares of W&T Offshore by 48.6% during the 1st quarter. R Squared Ltd now owns 48,500 shares of the oil and gas company's stock worth $75,000 after purchasing an additional 15,870 shares during the period. 42.88% of the stock is owned by hedge funds and other institutional investors.

W&T Offshore Company Profile

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.