W&T Offshore (NYSE:WTI) Trading Down 7% - Here's Why

Key Points

• W&T Offshore shares fell about 7% to roughly $4.17 on Thursday, with ~4.42 million shares traded (a ~34% decline from average daily volume).
• The company reported quarterly EPS of ($0.14), missing estimates (consensus ($0.06)), and analysts expect about ($0.22) EPS for the current fiscal year despite a slight revenue beat.
• Analyst coverage is mixed—two Buys, one Hold and one Sell with an average rating of 'Hold'—and institutional investors own roughly 42.88% of the stock, with several funds recently increasing stakes.

W&T Offshore, Inc. (NYSE:WTI - Get Free Report)'s share price dropped 7% during trading on Thursday . The company traded as low as $4.14 and last traded at $4.1660. Approximately 4,419,275 shares were traded during trading, a decline of 34% from the average daily volume of 6,698,559 shares. The stock had previously closed at $4.48.

Wall Street Analyst Weigh In

WTI has been the topic of a number of analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of W&T Offshore in a research report on Monday, April 20th. Zacks Research downgraded shares of W&T Offshore from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 26th. Finally, William Blair started coverage on shares of W&T Offshore in a research note on Friday, April 17th. They set an "outperform" rating on the stock. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, W&T Offshore has an average rating of "Hold".

W&T Offshore Stock Down 5.9%

The company has a market cap of $627.11 million, a PE ratio of -4.17 and a beta of 0.09. The stock has a 50-day simple moving average of $3.12 and a 200 day simple moving average of $2.35.

W&T Offshore (NYSE:WTI - Get Free Report) last posted its earnings results on Monday, March 16th. The oil and gas company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.08). The business had revenue of $121.71 million during the quarter, compared to the consensus estimate of $115.36 million. As a group, research analysts anticipate that W&T Offshore, Inc. will post -0.22 earnings per share for the current fiscal year.

W&T Offshore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 19th were given a $0.01 dividend. The ex-dividend date was Thursday, March 19th. This represents a $0.04 dividend on an annualized basis and a yield of 0.9%. W&T Offshore's payout ratio is currently -3.96%.

Institutional Investors Weigh In On W&T Offshore

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of W&T Offshore by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,828,361 shares of the oil and gas company's stock valued at $12,428,000 after acquiring an additional 19,283 shares during the period. Millennium Management LLC raised its stake in shares of W&T Offshore by 24.2% in the 1st quarter. Millennium Management LLC now owns 3,071,610 shares of the oil and gas company's stock valued at $4,761,000 after acquiring an additional 598,614 shares during the period. State Street Corp raised its stake in shares of W&T Offshore by 0.5% in the 4th quarter. State Street Corp now owns 2,680,643 shares of the oil and gas company's stock valued at $4,369,000 after acquiring an additional 14,426 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of W&T Offshore by 25.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,540,588 shares of the oil and gas company's stock valued at $4,141,000 after acquiring an additional 508,050 shares during the period. Finally, UBS Group AG raised its stake in shares of W&T Offshore by 381.1% in the 4th quarter. UBS Group AG now owns 2,400,024 shares of the oil and gas company's stock valued at $3,912,000 after acquiring an additional 1,901,213 shares during the period. 42.88% of the stock is owned by hedge funds and other institutional investors.

W&T Offshore Company Profile

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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