Shares of W&T Offshore, Inc. (NYSE:WTI – Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $3.49, but opened at $3.39. W&T Offshore shares last traded at $3.4210, with a volume of 665,220 shares changing hands.
Wall Street Analysts Forecast Growth
WTI has been the subject of several recent research reports. Wall Street Zen lowered shares of W&T Offshore from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. William Blair began coverage on shares of W&T Offshore in a research report on Friday, April 17th. They set an “outperform” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a report on Friday. Two equities 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 MarketBeat, the company presently has a consensus rating of “Hold”.
View Our Latest Stock Analysis on WTI
W&T Offshore Stock Performance
W&T Offshore Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.01 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.1%. W&T Offshore’s dividend payout ratio (DPR) is currently -4.21%.
Institutional Investors Weigh In On W&T Offshore
A number of large investors have recently added to or reduced their stakes in the company. Capricorn Fund Managers Ltd acquired a new position in W&T Offshore in the 1st quarter worth $34,000. StoneX Group Inc. acquired a new stake in shares of W&T Offshore during the fourth quarter valued at about $28,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of W&T Offshore during the third quarter worth about $32,000. Oxford Asset Management LLP purchased a new stake in shares of W&T Offshore during the second quarter worth about $29,000. Finally, Walleye Capital LLC acquired a new position in shares of W&T Offshore in the first quarter worth about $62,000. 42.88% of the stock is owned by institutional investors and hedge funds.
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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