W&T Offshore, Inc. (NYSE:WTI – Get Free Report)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $3.72, but opened at $3.89. W&T Offshore shares last traded at $3.9160, with a volume of 571,723 shares trading hands.
Analysts Set New Price Targets
Several brokerages have recently issued reports on WTI. Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a report on Friday, July 17th. Roth Capital set a $4.25 price objective on W&T Offshore in a report on Tuesday. William Blair began coverage on W&T Offshore in a research report on Friday, April 17th. They set an “outperform” rating on the stock. Finally, Wall Street Zen cut W&T Offshore from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.25.
View Our Latest Stock Report on W&T Offshore
W&T Offshore Stock Performance
W&T Offshore Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.04 annualized dividend and a dividend yield of 1.0%. W&T Offshore’s payout ratio is currently -4.21%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of WTI. AQR Capital Management LLC grew its position in shares of W&T Offshore by 309.7% in the 1st quarter. AQR Capital Management LLC now owns 120,911 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 91,400 shares during the last quarter. Millennium Management LLC boosted its holdings in 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 valued at $4,761,000 after acquiring an additional 598,614 shares during the last quarter. Jane Street Group LLC boosted its holdings in 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 valued at $503,000 after acquiring an additional 289,739 shares during the last quarter. Geode Capital Management LLC increased its position in W&T Offshore by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 2,341,646 shares of the oil and gas company’s stock valued at $3,864,000 after purchasing an additional 52,982 shares during the period. Finally, Creative Planning increased its position in W&T Offshore by 42.3% during the 2nd quarter. Creative Planning now owns 42,885 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 12,749 shares during the period. 42.88% of the stock is 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.
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