W&T Offshore (NYSE:WTI) Stock Passes Above 200 Day Moving Average – What’s Next?

W&T Offshore, Inc. (NYSE:WTI) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.85 and traded as high as $2.25. W&T Offshore shares last traded at $2.2450, with a volume of 3,159,666 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently commented on WTI. Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a report on Wednesday, January 21st. Zacks Research raised W&T Offshore from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

W&T Offshore Stock Performance

The stock’s 50 day simple moving average is $1.76 and its 200-day simple moving average is $1.85. The firm has a market cap of $334.01 million, a price-to-earnings ratio of -2.27 and a beta of 0.32.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. The company had revenue of $127.52 million for the quarter, compared to analysts’ expectations of $125.69 million. On average, analysts expect that W&T Offshore, Inc. will post -0.45 EPS for the current fiscal year.

W&T Offshore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 19th were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, November 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.8%. W&T Offshore’s dividend payout ratio is currently -4.04%.

Institutional Investors Weigh In On W&T Offshore

A number of large investors have recently bought and sold shares of WTI. AQR Capital Management LLC increased its holdings in 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 worth $187,000 after buying an additional 91,400 shares during the period. Millennium Management LLC increased its stake in shares of 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 worth $4,761,000 after acquiring an additional 598,614 shares during the period. Jane Street Group LLC increased its stake in shares of 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 worth $503,000 after acquiring an additional 289,739 shares during the period. Simplicity Wealth LLC purchased a new position in shares of W&T Offshore during the second quarter worth $101,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in W&T Offshore by 18.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 97,443 shares of the oil and gas company’s stock valued at $161,000 after purchasing an additional 14,988 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.