W&T Offshore (NYSE:WTI) Trading 6.9% Higher - Time to Buy?

Key Points

• W&T Offshore shares rose 6.9% to approximately $3.67, despite trading volume falling sharply below its average. The company has a market capitalization of about $562.6 million and trades below profitability, with a negative P/E ratio.
• Analyst sentiment is mixed: two analysts rate the stock Buy, one rates it Hold, and one rates it Sell. The overall consensus is Hold, with an average price target of $4.25.
• W&T Offshore reported quarterly EPS of $0.02, missing estimates of $0.04, although revenue of $162.6 million exceeded expectations. The company also announced a quarterly dividend of $0.01 per share, representing a 1.1% annualized yield.

W&T Offshore, Inc. (NYSE:WTI - Get Free Report)'s stock price traded up 6.9% during trading on Monday . The stock traded as high as $3.65 and last traded at $3.6650. 595,042 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 5,961,405 shares. The stock had previously closed at $3.43.

Analysts Set New Price Targets

WTI has been the subject of a number of recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of W&T Offshore in a report on Friday, July 17th. William Blair initiated coverage on W&T Offshore in a research report on Friday, April 17th. They set an "outperform" rating for the company. Roth Capital set a $4.25 price target on W&T Offshore in a report on Tuesday, July 21st. Finally, Wall Street Zen cut shares of W&T Offshore from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $4.25.

W&T Offshore Stock Up 8.7%

The company has a 50 day moving average of $3.49 and a two-hundred day moving average of $3.26. The firm has a market cap of $562.56 million, a P/E ratio of -5.10 and a beta of 0.24.

W&T Offshore (NYSE:WTI - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). The business had revenue of $162.62 million for the quarter, compared to the consensus estimate of $157.46 million. Research analysts expect that W&T Offshore, Inc. will post -0.11 earnings per share for the current fiscal year.

W&T Offshore Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 19th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th. W&T Offshore's dividend payout ratio (DPR) is presently -5.48%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in W&T Offshore during the second quarter valued at about $26,065,000. UBS Group AG increased its position in shares of W&T Offshore by 381.1% in the fourth quarter. UBS Group AG now owns 2,400,024 shares of the oil and gas company's stock worth $3,912,000 after acquiring an additional 1,901,213 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of W&T Offshore in the 2nd quarter valued at approximately $3,592,000. Goldman Sachs Group Inc. boosted its stake in W&T Offshore by 115.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,666,494 shares of the oil and gas company's stock worth $2,716,000 after purchasing an additional 894,221 shares during the period. Finally, Millennium Management LLC boosted its stake in W&T Offshore by 33.9% in the 3rd quarter. Millennium Management LLC now owns 2,560,561 shares of the oil and gas company's stock worth $4,660,000 after purchasing an additional 647,596 shares during the period. Institutional investors own 42.88% of the company's stock.

About W&T Offshore

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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