W&T Offshore (NYSE:WTI) Stock Passes Above 200 Day Moving Average - What's Next?

W&T Offshore, Inc. (NYSE:WTI - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 report on Sunday, June 22nd.

W&T Offshore Price Performance

The business has a fifty day simple moving average of $1.63 and a 200 day simple moving average of $1.57. The firm has a market cap of $266.51 million, a price-to-earnings ratio of -2.51 and a beta of 0.68.

W&T Offshore (NYSE:WTI - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) 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. On average, research analysts anticipate that W&T Offshore, Inc. will post -0.45 earnings per share for the current fiscal year.

W&T Offshore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 20th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Tuesday, May 20th. W&T Offshore's payout ratio is currently -5.56%.

Hedge Funds Weigh In On W&T Offshore

A number of large investors have recently modified their holdings of the business. Rhumbline Advisers grew its holdings in shares of W&T Offshore by 24.5% in the 1st quarter. Rhumbline Advisers now owns 299,473 shares of the oil and gas company's stock worth $464,000 after acquiring an additional 59,012 shares during the period. Jane Street Group LLC raised its position in W&T Offshore by 826.2% in the first quarter. Jane Street Group LLC now owns 324,807 shares of the oil and gas company's stock valued at $503,000 after purchasing an additional 289,739 shares during the period. Millennium Management LLC raised its position in W&T Offshore by 24.2% in the first quarter. Millennium Management LLC now owns 3,071,610 shares of the oil and gas company's stock valued at $4,761,000 after purchasing an additional 598,614 shares during the period. AQR Capital Management LLC increased its position in shares of W&T Offshore by 309.7% during the first quarter. AQR Capital Management LLC now owns 120,911 shares of the oil and gas company's stock worth $187,000 after acquiring an additional 91,400 shares during the last quarter. Finally, Huber Capital Management LLC increased its position in shares of W&T Offshore by 35.8% during the first quarter. Huber Capital Management LLC now owns 6,858,684 shares of the oil and gas company's stock worth $10,631,000 after acquiring an additional 1,808,234 shares during the last quarter. 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.