W&T Offshore Target of Unusually High Options Trading (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) was the recipient of some unusual options trading on Friday. Investors acquired 4,052 call options on the stock. This represents an increase of approximately 591% compared to the average daily volume of 586 call options.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded W&T Offshore from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th.

Institutional Investors Weigh In On W&T Offshore

Several large investors have recently bought and sold shares of WTI. Raymond James Financial Inc. acquired a new position in shares of W&T Offshore during the fourth quarter valued at approximately $32,000. US Bancorp DE acquired a new position in shares of W&T Offshore during the fourth quarter valued at approximately $33,000. Ethic Inc. acquired a new position in shares of W&T Offshore during the fourth quarter valued at approximately $36,000. Boothbay Fund Management LLC acquired a new position in shares of W&T Offshore during the fourth quarter valued at approximately $41,000. Finally, RPO LLC acquired a new position in shares of W&T Offshore during the fourth quarter valued at approximately $55,000. 42.88% of the stock is currently owned by hedge funds and other institutional investors.

W&T Offshore Stock Down 8.3%

Shares of W&T Offshore stock opened at $2.17 on Friday. W&T Offshore has a twelve month low of $1.09 and a twelve month high of $2.84. The business has a 50-day moving average price of $1.49 and a 200 day moving average price of $1.56. The firm has a market cap of $319.66 million, a PE ratio of -3.01 and a beta of 0.65.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. W&T Offshore had a negative return on equity of 775.16% and a negative net margin of 20.66%. The firm had revenue of $129.87 million during the quarter, compared to analyst estimates of $123.91 million. On average, sell-side analysts expect that W&T Offshore will post -0.45 EPS for the current year.

W&T Offshore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.04 annualized dividend and a yield of 1.85%. W&T Offshore’s dividend payout ratio (DPR) is currently -5.56%.

About W&T Offshore

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.