W&T Offshore, Inc. (NYSE:WTI – Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $4.06, but opened at $3.47. W&T Offshore shares last traded at $3.4570, with a volume of 1,442,357 shares trading hands.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on WTI shares. Zacks Research cut W&T Offshore from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. William Blair began coverage on W&T Offshore in a research note on Friday, April 17th. They issued an “outperform” rating on the stock. Wall Street Zen raised W&T Offshore from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a research note on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.
Check Out Our Latest Analysis on WTI
W&T Offshore Price Performance
W&T Offshore (NYSE:WTI – Get Free Report) last issued its quarterly earnings results on Monday, March 9th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The firm had revenue of $121.71 million during the quarter, compared to analyst estimates of $115.36 million. On average, sell-side analysts expect that W&T Offshore, Inc. will post -0.12 EPS for the current fiscal year.
W&T Offshore Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Thursday, May 21st. W&T Offshore’s dividend payout ratio is currently -4.21%.
Institutional Investors Weigh In On W&T Offshore
Several large investors have recently modified their holdings of WTI. AQR Capital Management LLC increased its holdings in shares of W&T Offshore by 309.7% in the first quarter. AQR Capital Management LLC now owns 120,911 shares of the oil and gas company’s stock worth $187,000 after acquiring an additional 91,400 shares in the last quarter. Millennium Management LLC increased its holdings in shares of W&T Offshore by 24.2% in the first quarter. Millennium Management LLC now owns 3,071,610 shares of the oil and gas company’s stock worth $4,761,000 after acquiring an additional 598,614 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of W&T Offshore by 826.2% in the first quarter. Jane Street Group LLC now owns 324,807 shares of the oil and gas company’s stock worth $503,000 after acquiring an additional 289,739 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of W&T Offshore by 2.3% in the second quarter. Geode Capital Management LLC now owns 2,341,646 shares of the oil and gas company’s stock worth $3,864,000 after acquiring an additional 52,982 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of W&T Offshore by 42.3% in the second quarter. Creative Planning now owns 42,885 shares of the oil and gas company’s stock worth $71,000 after acquiring an additional 12,749 shares in the last quarter. 42.88% of the stock is currently owned by institutional investors.
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.
Featured Articles
- Five stocks we like better than W&T Offshore
- RH’s Strong Q1 Still Leaves Investors With One Big Question
- Iran Ceasefire or Not, These 3 Companies Could Win
- Gold Is Testing Its 200-Day SMA—These 3 Mining Stocks Are the Play
- Summer Is Coming–But There’s No End in Sight for This Crypto Winter
Receive News & Ratings for W&T Offshore Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W&T Offshore and related companies with MarketBeat.com's FREE daily email newsletter.
