W&T Offshore (NYSE:WTI) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

W&T Offshore, Inc. (NYSE:WTI)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.87 and traded as high as $3.41. W&T Offshore shares last traded at $3.32, with a volume of 3,051,306 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented on the company. William Blair started coverage on W&T Offshore in a research report on Friday, April 17th. They issued an “outperform” rating for the company. Wall Street Zen upgraded W&T Offshore from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a research report on Monday, April 20th. Finally, Zacks Research cut W&T Offshore from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

W&T Offshore Stock Performance

The firm has a market capitalization of $493.95 million, a price-to-earnings ratio of -3.49 and a beta of 0.24. The firm’s 50-day moving average price is $3.83 and its two-hundred day moving average price is $2.87.

W&T Offshore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 21st. W&T Offshore’s payout ratio is presently -4.21%.

Hedge Funds Weigh In On W&T Offshore

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of W&T Offshore by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,828,361 shares of the oil and gas company’s stock worth $12,428,000 after buying an additional 19,283 shares in the last quarter. Millennium Management LLC boosted its stake in W&T Offshore by 24.2% in the 1st quarter. Millennium Management LLC now owns 3,071,610 shares of the oil and gas company’s stock valued at $4,761,000 after buying an additional 598,614 shares in the last quarter. State Street Corp grew its position in W&T Offshore by 0.5% in the fourth quarter. State Street Corp now owns 2,680,643 shares of the oil and gas company’s stock valued at $4,369,000 after acquiring an additional 14,426 shares during the period. Charles Schwab Investment Management Inc. grew its position in W&T Offshore by 25.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,540,588 shares of the oil and gas company’s stock valued at $4,141,000 after acquiring an additional 508,050 shares during the period. Finally, UBS Group AG raised its stake in W&T Offshore by 381.1% during the fourth quarter. UBS Group AG now owns 2,400,024 shares of the oil and gas company’s stock worth $3,912,000 after acquiring an additional 1,901,213 shares in the last quarter. 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.