W&T Offshore (NYSE:WTI) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of W&T Offshore, Inc. (NYSE:WTI) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.23 and traded as high as $3.19. W&T Offshore shares last traded at $3.0350, with a volume of 13,304,772 shares.

Wall Street Analysts Forecast Growth

WTI has been the subject of several research analyst reports. Zacks Research cut shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, W&T Offshore presently has an average rating of “Hold”.

W&T Offshore Stock Performance

The firm has a 50-day moving average price of $2.85 and a 200-day moving average price of $2.23. The stock has a market cap of $429.23 million, a PE ratio of -2.86 and a beta of 0.09.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Monday, March 16th. The oil and gas company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). The firm had revenue of $121.71 million for the quarter, compared to analysts’ expectations of $115.36 million. As a group, sell-side analysts anticipate that W&T Offshore, Inc. will post -0.45 EPS for the current fiscal year.

W&T Offshore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 19th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Thursday, March 19th. W&T Offshore’s dividend payout ratio (DPR) is currently -3.96%.

Institutional Investors Weigh In On W&T Offshore

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WTI. AXQ Capital LP purchased a new position in shares of W&T Offshore in the third quarter worth $28,000. HBK Sorce Advisory LLC bought a new position in shares of W&T Offshore during the third quarter worth $30,000. Wealth Enhancement Advisory Services LLC purchased a new position in W&T Offshore during the third quarter valued at $30,000. CWM LLC grew its stake in W&T Offshore by 181.6% during the third quarter. CWM LLC now owns 16,908 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 10,904 shares in the last quarter. Finally, StoneX Group Inc. bought a new stake in W&T Offshore in the 4th quarter valued at $28,000. Institutional investors own 42.88% of the company’s stock.

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.