W&T Offshore (NYSE:WTI) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

W&T Offshore, Inc. (NYSE:WTI)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.92 and traded as high as $3.22. W&T Offshore shares last traded at $3.0650, with a volume of 2,143,930 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WTI shares. Wall Street Zen upgraded W&T Offshore from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. William Blair initiated coverage on W&T Offshore in a research report on Friday, April 17th. They issued an “outperform” rating for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, W&T Offshore currently has a consensus rating of “Hold”.

W&T Offshore Trading Down 2.7%

The firm has a market cap of $456.01 million, a PE ratio of -3.23 and a beta of 0.24. The company’s 50-day moving average is $3.86 and its 200 day moving average is $2.92.

W&T Offshore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Thursday, May 21st. W&T Offshore’s payout ratio is -4.21%.

Institutional Trading of W&T Offshore

A number of hedge funds have recently modified their holdings of WTI. Deprince Race & Zollo Inc. lifted its stake in W&T Offshore by 16.0% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,502,907 shares of the oil and gas company’s stock worth $2,450,000 after acquiring an additional 206,810 shares in the last quarter. JPMorgan Chase & Co. grew its stake in W&T Offshore by 447.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 257,635 shares of the oil and gas company’s stock valued at $469,000 after acquiring an additional 210,564 shares in the last quarter. UBS Group AG grew its stake in W&T Offshore by 381.1% during the 4th quarter. UBS Group AG now owns 2,400,024 shares of the oil and gas company’s stock valued at $3,912,000 after acquiring an additional 1,901,213 shares in the last quarter. Octavia Wealth Advisors LLC increased its holdings in shares of W&T Offshore by 61.1% in the 4th quarter. Octavia Wealth Advisors LLC now owns 50,750 shares of the oil and gas company’s stock valued at $83,000 after purchasing an additional 19,250 shares during the period. Finally, SG Americas Securities LLC increased its holdings in shares of W&T Offshore by 81.7% in the 4th quarter. SG Americas Securities LLC now owns 34,165 shares of the oil and gas company’s stock valued at $56,000 after purchasing an additional 15,360 shares during the period. Hedge funds and other institutional investors own 42.88% of the company’s stock.

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.