W&T Offshore (NYSE:WTI) Trading Down 5.4% - What's Next?

Key Points

• W&T Offshore shares fell 5.4% on Thursday, trading as low as $3.39 before ending near $3.40 on lighter-than-normal volume.
• Analyst sentiment is mixed: Weiss Ratings reiterated a sell, William Blair initiated coverage with an outperform, and Wall Street Zen cut the stock to hold. Overall, MarketBeat shows an average rating of Hold.
• The company recently paid a quarterly dividend of $0.01 per share, equal to a 1.2% annualized yield, while institutional investors now hold about 42.88% of the stock.

Shares of W&T Offshore, Inc. (NYSE:WTI - Get Free Report) were down 5.4% during trading on Thursday . The stock traded as low as $3.39 and last traded at $3.3950. Approximately 2,296,534 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 6,259,298 shares. The stock had previously closed at $3.59.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of W&T Offshore in a report on Monday, April 20th. William Blair started coverage on shares of W&T Offshore in a report on Friday, April 17th. They set an "outperform" rating for the company. Finally, Wall Street Zen lowered W&T Offshore from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold".

W&T Offshore Stock Performance

The company has a 50-day moving average price of $3.81 and a 200-day moving average price of $2.98. The firm has a market capitalization of $509.57 million, a P/E ratio of -3.61 and a beta of 0.24.

W&T Offshore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.04 annualized dividend and a yield of 1.2%. W&T Offshore's dividend payout ratio (DPR) is presently -4.21%.

Hedge Funds Weigh In On W&T Offshore

Several institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG lifted its stake in 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 valued at $3,912,000 after buying an additional 1,901,213 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of W&T Offshore by 115.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,666,494 shares of the oil and gas company's stock worth $2,716,000 after buying an additional 894,221 shares in the last quarter. Millennium Management LLC boosted its position in W&T Offshore by 33.9% during 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 acquiring an additional 647,596 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of W&T Offshore during the 1st quarter worth approximately $2,205,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of W&T Offshore by 25.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,540,588 shares of the oil and gas company's stock worth $4,141,000 after acquiring an additional 508,050 shares in the last quarter. Institutional investors and hedge funds 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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