W&T Offshore (NYSE:WTI) Sets New 12-Month High – Still a Buy?

Shares of W&T Offshore, Inc. (NYSE:WTI) hit a new 52-week high during trading on Thursday . The company traded as high as $4.57 and last traded at $4.4420, with a volume of 1440393 shares trading hands. The stock had previously closed at $4.40.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WTI shares. Wall Street Zen raised shares of W&T Offshore from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research lowered shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a report on Monday, April 20th. Finally, William Blair initiated coverage on shares of W&T Offshore in a report on Friday, April 17th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold”.

W&T Offshore Stock Performance

The company has a market capitalization of $661.33 million, a price-to-earnings ratio of -4.68 and a beta of 0.29. The company’s fifty day simple moving average is $3.34 and its two-hundred day simple moving average is $2.45.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.17). The business had revenue of $150.02 million for the quarter, compared to the consensus estimate of $138.41 million. Sell-side analysts anticipate that W&T Offshore, Inc. will post -0.11 EPS for the current year.

W&T Offshore Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.04 annualized dividend and a dividend yield of 0.9%. W&T Offshore’s payout ratio is -4.21%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of WTI. AXQ Capital LP acquired a new position in shares of W&T Offshore in the 3rd quarter valued at about $28,000. StoneX Group Inc. acquired a new position in shares of W&T Offshore in the 4th quarter valued at about $28,000. Oxford Asset Management LLP acquired a new position in shares of W&T Offshore in the 2nd quarter valued at about $29,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of W&T Offshore in the 3rd quarter valued at about $30,000. Finally, CWM LLC boosted its holdings in shares of W&T Offshore by 181.6% in the 3rd quarter. CWM LLC now owns 16,908 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 10,904 shares during the period. 42.88% of the stock is owned by institutional investors and hedge funds.

W&T Offshore Company Profile

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.