W&T Offshore (NYSE:WTI) Stock Price Down 6% - What's Next?

Key Points

• Shares fell about 6%, trading near $3.39 on the day with roughly 7.25 million shares changing hands — about 28% above average volume.
• The company missed earnings (Q EPS -$0.14 vs. consensus -$0.06) despite revenue beating estimates ($121.7M vs. $115.4M), and analysts expect about -0.45 EPS for the current year; market cap is roughly $499M with a negative PE.
• Analyst sentiment is mixed with a consensus rating of "Hold" (one Buy, one Hold, one Sell); Zacks recently cut to Hold while Weiss Ratings reaffirmed a Sell (d-).

W&T Offshore, Inc. (NYSE:WTI - Get Free Report) fell 6% on Tuesday . The stock traded as low as $3.49 and last traded at $3.3850. 7,249,498 shares changed hands during mid-day trading, an increase of 28% from the average session volume of 5,667,509 shares. The stock had previously closed at $3.60.

Analysts Set New Price Targets

WTI has been the topic of several research reports. Zacks Research cut shares of W&T Offshore from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of W&T Offshore in a research note on Wednesday, January 21st. One equities research analyst has 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold".

W&T Offshore Stock Down 6.8%

The stock has a market capitalization of $499.16 million, a PE ratio of -3.32 and a beta of 0.26. The stock has a fifty day moving average of $2.63 and a 200-day moving average of $2.14.

W&T Offshore (NYSE:WTI - Get Free Report) last posted its quarterly earnings results on Monday, March 16th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.08). The business had revenue of $121.71 million during the quarter, compared to the consensus estimate of $115.36 million. Equities research analysts expect that W&T Offshore, Inc. will post -0.45 EPS for the current year.

W&T Offshore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 19th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, March 19th. This represents a $0.04 annualized dividend and a yield of 1.2%. W&T Offshore's dividend payout ratio (DPR) is -3.96%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its stake in W&T Offshore by 55.7% in the second quarter. Fisher Asset Management LLC now owns 882,842 shares of the oil and gas company's stock valued at $1,457,000 after acquiring an additional 315,901 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of W&T Offshore during the second quarter worth about $176,000. R Squared Ltd lifted its holdings in shares of W&T Offshore by 62.0% in the 3rd quarter. R Squared Ltd now owns 59,341 shares of the oil and gas company's stock valued at $108,000 after purchasing an additional 22,721 shares during the last quarter. AXQ Capital LP purchased a new stake in shares of W&T Offshore in the 3rd quarter valued at about $28,000. Finally, GSA Capital Partners LLP boosted its position in shares of W&T Offshore by 416.0% in the 3rd quarter. GSA Capital Partners LLP now owns 180,760 shares of the oil and gas company's stock valued at $329,000 after purchasing an additional 145,729 shares during the period. Hedge funds and other institutional investors own 42.88% of the company's stock.

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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