W&T Offshore, Inc. (NYSE:WTI – Get Free Report)’s share price traded down 5.4% during trading on Thursday . The company traded as low as $3.39 and last traded at $3.3950. Approximately 2,296,534 shares were traded during trading, a decline of 63% from the average session volume of 6,259,298 shares. The stock had previously closed at $3.59.
Wall Street Analysts Forecast Growth
WTI has been the subject of several analyst reports. Wall Street Zen downgraded shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a report on Monday, April 20th. Finally, William Blair assumed coverage on shares of W&T Offshore in a research report on Friday, April 17th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.
View Our Latest Research Report on WTI
W&T Offshore Price Performance
W&T Offshore Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were issued a $0.01 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.04 annualized dividend and a yield of 1.2%. W&T Offshore’s payout ratio is -4.21%.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of WTI. Bank of America Corp DE boosted its position in shares of W&T Offshore by 4.2% in the first quarter. Bank of America Corp DE now owns 649,490 shares of the oil and gas company’s stock worth $2,215,000 after acquiring an additional 26,262 shares during the last quarter. Renaissance Technologies LLC increased its position in W&T Offshore by 158.5% during the first quarter. Renaissance Technologies LLC now owns 590,300 shares of the oil and gas company’s stock worth $2,013,000 after purchasing an additional 361,900 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in W&T Offshore during the first quarter worth approximately $2,205,000. Sei Investments Co. raised its stake in W&T Offshore by 1,596.5% during the first quarter. Sei Investments Co. now owns 297,870 shares of the oil and gas company’s stock worth $1,016,000 after purchasing an additional 280,312 shares during the period. Finally, Walleye Capital LLC acquired a new position in shares of W&T Offshore in the 1st quarter valued at $62,000. 42.88% of the stock is currently 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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