W&T Offshore (NYSE:WTI) Stock Passes Above 200-Day Moving Average - Here's Why

W&T Offshore, Inc. (NYSE:WTI - Get Free Report) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.56 and traded as high as $1.72. W&T Offshore shares last traded at $1.66, with a volume of 1,724,350 shares traded.

Wall Street Analyst Weigh In

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

W&T Offshore Stock Up 2.1%

The stock has a market capitalization of $248.79 million, a PE ratio of -2.34 and a beta of 0.65. The business's 50-day moving average is $1.56 and its two-hundred day moving average is $1.56.

W&T Offshore (NYSE:WTI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.01. W&T Offshore had a negative net margin of 20.66% and a negative return on equity of 775.16%. The firm had revenue of $129.87 million during the quarter, compared to analysts' expectations of $123.91 million. As a group, analysts anticipate that W&T Offshore, Inc. will post -0.45 EPS for the current year.

W&T Offshore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 20th were paid a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.04 annualized dividend and a dividend yield of 2.37%. W&T Offshore's dividend payout ratio (DPR) is currently -5.56%.

Institutional Investors Weigh In On W&T Offshore

Several hedge funds have recently modified their holdings of the stock. Huber Capital Management LLC increased its stake 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 period. Ameriprise Financial Inc. raised its stake in shares of W&T Offshore by 427.0% during the 4th quarter. Ameriprise Financial Inc. now owns 3,831,604 shares of the oil and gas company's stock worth $6,360,000 after buying an additional 3,104,484 shares in the last quarter. Millennium Management LLC boosted its stake in shares of 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 buying an additional 598,614 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of W&T Offshore by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 2,189,364 shares of the oil and gas company's stock valued at $3,635,000 after buying an additional 42,795 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in W&T Offshore by 11.2% during the first quarter. Russell Investments Group Ltd. now owns 1,284,183 shares of the oil and gas company's stock worth $1,990,000 after acquiring an additional 129,564 shares during the period. 42.88% of the stock is owned by institutional investors and hedge funds.

About W&T Offshore

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.