W&T Offshore, Inc. (NYSE:WTI – Get Free Report) rose 7.2% during trading on Wednesday . The company traded as high as $4.07 and last traded at $4.1150. Approximately 647,334 shares traded hands during trading, a decline of 90% from the average daily volume of 6,506,383 shares. The stock had previously closed at $3.84.
Analyst Ratings Changes
WTI has been the subject of several recent analyst reports. Zacks Research downgraded W&T Offshore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Wall Street Zen upgraded W&T Offshore from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a research note on Monday, April 20th. Finally, William Blair initiated coverage on W&T Offshore in a research note on Friday, April 17th. They set an “outperform” rating for the company. Two 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 company. Based on data from MarketBeat.com, W&T Offshore has an average rating of “Hold”.
Read Our Latest Stock Analysis on WTI
W&T Offshore Stock Performance
W&T Offshore (NYSE:WTI – Get Free Report) last announced its quarterly earnings data on Monday, March 9th. 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. Sell-side analysts anticipate that W&T Offshore, Inc. will post -0.12 earnings per share for the current fiscal year.
W&T Offshore Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, May 21st. W&T Offshore’s dividend payout ratio (DPR) is -4.21%.
Hedge Funds Weigh In On W&T Offshore
Hedge funds and other institutional investors have recently modified their holdings of the stock. Capricorn Fund Managers Ltd bought a new position in shares of W&T Offshore during the 1st quarter worth approximately $34,000. AXQ Capital LP acquired a new position in W&T Offshore in the third quarter valued at about $28,000. Wealth Enhancement Advisory Services LLC acquired a new position in W&T Offshore in the third quarter valued at about $30,000. StoneX Group Inc. acquired a new position in W&T Offshore in the fourth quarter valued at about $28,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in W&T Offshore in the 3rd quarter valued at $32,000. 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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