W&T Offshore (NYSE:WTI) Shares Up 4.7% – Should You Buy?

W&T Offshore, Inc. (NYSE:WTI)’s stock price rose 4.7% during trading on Thursday . The stock traded as high as $3.89 and last traded at $3.9150. 609,779 shares traded hands during trading, a decline of 89% from the average daily volume of 5,542,496 shares. The stock had previously closed at $3.74.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WTI shares. Wall Street Zen cut W&T Offshore from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Roth Capital set a $4.25 target price on W&T Offshore in a report on Tuesday, July 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a research report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.25.

W&T Offshore Trading Up 4.1%

The firm has a market capitalization of $587.92 million, a price-to-earnings ratio of -5.34 and a beta of 0.28. The company’s 50 day moving average is $3.71 and its 200-day moving average is $3.60.

W&T Offshore (NYSE:WTI) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $162.62 million for the quarter, compared to analysts’ expectations of $157.46 million. Research analysts expect that W&T Offshore, Inc. will post -0.1 EPS for the current year.

W&T Offshore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 19th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.0%. W&T Offshore’s dividend payout ratio (DPR) is -5.48%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of W&T Offshore by 12.4% during the second quarter. The Manufacturers Life Insurance Company now owns 28,642 shares of the oil and gas company’s stock worth $90,000 after buying an additional 3,159 shares in the last quarter. Engineers Gate Manager LP increased its position in W&T Offshore by 143.4% during the second quarter. Engineers Gate Manager LP now owns 300,035 shares of the oil and gas company’s stock worth $945,000 after acquiring an additional 176,751 shares during the period. Squarepoint Ops LLC acquired a new stake in W&T Offshore in the 2nd quarter worth about $2,008,000. Corient Private Wealth LP bought a new stake in W&T Offshore in the 2nd quarter valued at about $50,000. Finally, AXQ Capital LP grew its position in shares of W&T Offshore by 61.6% during the 2nd quarter. AXQ Capital LP now owns 102,822 shares of the oil and gas company’s stock worth $324,000 after purchasing an additional 39,213 shares in the last quarter. Institutional investors own 42.88% of the company’s stock.

About W&T Offshore

W&T Offshore, Inc is an independent oil and natural gas exploration and production company focused primarily on assets in the U.S. Gulf of Mexico. The company explores for, develops, and produces crude oil, natural gas, and natural gas liquids from offshore properties.

W&T Offshore’s operations include interests in producing fields and prospective exploration areas across the Gulf of Mexico, including shallow-water and deepwater assets. Its activities cover the full upstream lifecycle, including geological evaluation, drilling, field development, production, and asset management.

Founded in 1983 by Tracy W.