W&T Offshore (NYSE:WTI) Shares Pass Above 200 Day Moving Average - Here's What Happened

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.

W&T Offshore, Inc. (NYSE:WTI - Get Free Report) shares passed 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 trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised W&T Offshore from a "sell" rating to a "hold" rating in a research report on Friday.

W&T Offshore Price Performance

The business has a 50 day moving average of $1.80 and a 200 day moving average of $1.59. The firm has a market capitalization of $266.27 million, a price-to-earnings ratio of -2.36 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) EPS 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. On average, sell-side analysts forecast that W&T Offshore, Inc. will post -0.45 EPS 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 paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, August 18th. W&T Offshore's dividend payout ratio is presently -5.26%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Oxford Asset Management LLP acquired a new position in shares of W&T Offshore in the second quarter valued at $29,000. Raymond James Financial Inc. bought a new position in shares of W&T Offshore during the fourth quarter valued at $32,000. Ethic Inc. bought a new position in shares of W&T Offshore during the fourth quarter valued at $36,000. Boothbay Fund Management LLC bought a new position in shares of W&T Offshore during the fourth quarter valued at $41,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of W&T Offshore by 9,792.4% during the second quarter. EverSource Wealth Advisors LLC now owns 27,303 shares of the oil and gas company's stock valued at $45,000 after acquiring an additional 27,027 shares during the period. 42.88% of the stock is currently 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.