W&T Offshore (NYSE:WTI) Shares Gap Down – Here’s What Happened

W&T Offshore, Inc. (NYSE:WTI)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $4.07, but opened at $3.86. W&T Offshore shares last traded at $3.7790, with a volume of 964,262 shares traded.

Key W&T Offshore News

Here are the key news stories impacting W&T Offshore this week:

• Positive Sentiment: Zacks Research raised earnings estimates across several periods for W&T Offshore, including Q2 2026, Q3 2026, Q4 2026, Q2 2027, Q4 2027, FY2027, Q1 2028, and FY2028, suggesting analysts see a somewhat better earnings path than before. W&T Offshore estimate updates
• Neutral Sentiment: Zacks Research kept a Hold rating on the stock, so the revisions were not strong enough to change the firm’s overall stance on WTI. W&T Offshore analyst rating
• Negative Sentiment: Another market note said spot oil prices fell to multi-week lows, which is a headwind for W&T Offshore because weaker crude prices can pressure revenue and margins. Oil market weakness article
• Negative Sentiment: Despite the upgrades, Zacks still projects negative earnings for multiple future periods, including FY2026 and FY2027, indicating the company remains unprofitable in the near term. W&T Offshore earnings estimates

Analyst Upgrades and Downgrades

Several brokerages have commented on WTI. Zacks Research lowered W&T Offshore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a research note on Monday, April 20th. William Blair assumed coverage on W&T Offshore in a research note on Friday, April 17th. They issued an “outperform” rating for the company. Finally, Wall Street Zen lowered W&T Offshore from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

W&T Offshore Stock Down 5.7%

The firm has a market cap of $570.87 million, a price-to-earnings ratio of -4.04 and a beta of 0.29. The business has a 50 day moving average price of $3.60 and a 200-day moving average price of $2.61.

W&T Offshore (NYSE:WTI) last posted its earnings results on Thursday, May 7th. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The firm had revenue of $150.02 million during the quarter, compared to analyst estimates of $138.41 million. Research analysts anticipate that W&T Offshore, Inc. will post -0.11 earnings per share for the current fiscal year.

W&T Offshore Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Thursday, May 21st. W&T Offshore’s dividend payout ratio (DPR) is -4.21%.

Institutional Investors Weigh In On W&T Offshore

A number of hedge funds have recently bought and sold shares of WTI. AQR Capital Management LLC raised its holdings in W&T Offshore by 309.7% in the first quarter. AQR Capital Management LLC now owns 120,911 shares of the oil and gas company’s stock valued at $187,000 after acquiring an additional 91,400 shares in the last quarter. Millennium Management LLC grew its holdings in W&T Offshore by 24.2% during the 1st 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 in the last quarter. Jane Street Group LLC increased its position in shares of W&T Offshore by 826.2% in the 1st quarter. Jane Street Group LLC now owns 324,807 shares of the oil and gas company’s stock worth $503,000 after purchasing an additional 289,739 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of W&T Offshore by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,341,646 shares of the oil and gas company’s stock valued at $3,864,000 after purchasing an additional 52,982 shares in the last quarter. Finally, Creative Planning lifted its position in shares of W&T Offshore by 42.3% during the second quarter. Creative Planning now owns 42,885 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 12,749 shares during the last quarter. Institutional investors and hedge funds 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.