W&T Offshore (NYSE:WTI) Trading Up 6.9% – Should You Buy?

W&T Offshore, Inc. (NYSE:WTI) was up 6.9% on Monday . The stock traded as high as $3.65 and last traded at $3.6650. Approximately 595,042 shares were traded during trading, a decline of 90% from the average daily volume of 5,961,405 shares. The stock had previously closed at $3.43.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a research note on Friday, July 17th. William Blair assumed coverage on shares of W&T Offshore in a research note on Friday, April 17th. They issued an “outperform” rating on the stock. Roth Capital set a $4.25 target price on shares of W&T Offshore in a report on Tuesday, July 21st. Finally, Wall Street Zen cut shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.25.

W&T Offshore Price Performance

The stock has a market capitalization of $574.33 million, a PE ratio of -5.21 and a beta of 0.24. The firm has a fifty day moving average price of $3.49 and a two-hundred day moving average price of $3.29.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $162.62 million during the quarter, compared to the consensus estimate of $157.46 million. On average, research analysts expect that W&T Offshore, Inc. will post -0.11 earnings per share for the current fiscal year.

W&T Offshore Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 19th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.1%. W&T Offshore’s dividend payout ratio is presently -5.48%.

Institutional Investors Weigh In On W&T Offshore

Several large investors have recently added to or reduced their stakes in WTI. Ieq Capital LLC bought a new position in W&T Offshore in the 2nd quarter worth about $323,000. Callan Family Office LLC bought a new stake in shares of W&T Offshore during the second quarter valued at approximately $47,000. Vise Technologies Inc. purchased a new stake in shares of W&T Offshore in the second quarter valued at approximately $54,000. Nierenberg Investment Management Company LLC purchased a new stake in shares of W&T Offshore in the second quarter valued at approximately $42,698,000. Finally, BlackRock Inc. purchased a new stake in shares of W&T Offshore in the second quarter valued at approximately $26,065,000. 42.88% of the stock is 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.