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

W&T Offshore, Inc. (NYSE:WTI)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.73 and traded as high as $3.97. W&T Offshore shares last traded at $3.9450, with a volume of 3,224,006 shares changing hands.

Analyst Ratings Changes

A number of research firms recently issued reports on WTI. Wall Street Zen raised W&T Offshore from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. Zacks Research downgraded W&T Offshore from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a research report on Monday, April 20th. Finally, William Blair began coverage on W&T Offshore in a research report on Friday, April 17th. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

W&T Offshore Price Performance

The business has a 50-day simple moving average of $3.75 and a two-hundred day simple moving average of $2.73. The stock has a market cap of $586.94 million, a price-to-earnings ratio of -4.15 and a beta of 0.24.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Monday, March 9th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). The firm had revenue of $121.71 million during the quarter, compared to the consensus estimate of $115.36 million. As a group, equities analysts anticipate that W&T Offshore, Inc. will post -0.12 earnings per share for the current fiscal year.

W&T Offshore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders 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 dividend yield of 1.0%. The ex-dividend date was Thursday, May 21st. W&T Offshore’s payout ratio is currently -4.21%.

Institutional Investors Weigh In On W&T Offshore

Institutional investors have recently made changes to their positions in the company. Capricorn Fund Managers Ltd bought a new stake in shares of W&T Offshore during the first quarter worth approximately $34,000. AXQ Capital LP bought a new stake in shares of W&T Offshore during the third quarter worth approximately $28,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of W&T Offshore during the third quarter worth approximately $30,000. StoneX Group Inc. bought a new stake in shares of W&T Offshore during the fourth quarter worth approximately $28,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of W&T Offshore during the third quarter worth approximately $32,000. 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.