W&T Offshore (NYSE:WTI) Stock Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• W&T Offshore's stock price recently crossed above its 200-day moving average, trading at $1.75, a shift that could indicate a potential buy signal or prompt some investors to consider selling.
• Analysts downgraded W&T Offshore from a "hold" to a "sell" rating, reflecting concerns about the company’s financial performance, as it reported a loss in earnings per share that beat estimates but fell short of revenue expectations.
• The company announced a $0.01 quarterly dividend, with an annualized yield of 2.3%, indicating ongoing commitment to shareholder returns despite a negative dividend payout ratio.

Shares of W&T Offshore, Inc. (NYSE:WTI - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.58 and traded as high as $1.75. W&T Offshore shares last traded at $1.75, with a volume of 687,387 shares.

Analysts Set New Price Targets

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

W&T Offshore Stock Up 1.5%

The firm has a fifty day moving average price of $1.82 and a 200-day moving average price of $1.58. The firm has a market cap of $258.85 million, a price-to-earnings ratio of -2.30 and a beta of 0.70.

W&T Offshore (NYSE:WTI - Get Free Report) last issued its earnings results on Monday, August 4th. The oil and gas company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.06. The firm had revenue of $122.37 million during the quarter, compared to analyst estimates of $131.30 million. Equities research analysts anticipate that W&T Offshore, Inc. will post -0.45 earnings per share for the current fiscal year.

W&T Offshore Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 18th will be issued a $0.01 dividend. The ex-dividend date is Monday, August 18th. This represents a $0.04 dividend on an annualized basis and a yield of 2.3%. W&T Offshore's dividend payout ratio (DPR) is presently -5.26%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rexford Capital Inc. acquired a new position in W&T Offshore in the second quarter valued at $193,000. Oxford Asset Management LLP purchased a new position in W&T Offshore in the second quarter valued at about $29,000. BNP Paribas Financial Markets raised its position in W&T Offshore by 2,092.7% in the second quarter. BNP Paribas Financial Markets now owns 129,104 shares of the oil and gas company's stock valued at $213,000 after purchasing an additional 123,216 shares during the period. Brevan Howard Capital Management LP raised its position in W&T Offshore by 19.2% in the second quarter. Brevan Howard Capital Management LP now owns 156,247 shares of the oil and gas company's stock valued at $258,000 after purchasing an additional 25,186 shares during the period. Finally, Bank of America Corp DE raised its position in W&T Offshore by 46.6% in the second quarter. Bank of America Corp DE now owns 468,643 shares of the oil and gas company's stock valued at $773,000 after purchasing an additional 149,000 shares during the period. Institutional investors and hedge funds own 42.88% of the company's stock.

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.

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