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

Shares of W&T Offshore, Inc. (NYSE:WTI) gapped up before the market opened on Thursday . The stock had previously closed at $4.06, but opened at $4.17. W&T Offshore shares last traded at $4.0780, with a volume of 483,809 shares changing hands.

Key W&T Offshore News

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

• Positive Sentiment: Analysts at Zacks Research raised W&T Offshore’s EPS estimates across multiple periods, including FY2026 to a loss of $0.10 from $0.12, FY2027 to a loss of $0.21 from $0.26, and FY2028 to a loss of $0.11 from $0.14. Estimates for several individual quarters were also improved, indicating expectations for better-than-previously anticipated results. MarketBeat analyst estimate report
• Positive Sentiment: Oil-market conditions are supportive for offshore producers. Crude oil prices remain above $100 per barrel, with Middle East supply disruptions and tanker-route risks supporting bullish forecasts and potentially improving W&T Offshore’s realized pricing and cash flow. Crude Oil Weekly Forecast
• Positive Sentiment: Zacks identified W&T Offshore as one of three U.S. exploration-and-production companies it believes is well positioned for the road ahead, providing favorable industry visibility for WTI. Zacks U.S. E&P stocks report
• Positive Sentiment: W&T Offshore reported second-quarter net income of $12.6 million, reversing a $22.5 million loss in the prior quarter, and maintained its 12th consecutive quarterly dividend. W&T Offshore profit and short sellers report

Analysts Set New Price Targets

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

W&T Offshore Price Performance

The company has a fifty day moving average price of $3.64 and a 200 day moving average price of $3.53. The company has a market capitalization of $618.10 million, a P/E ratio of -5.61 and a beta of 0.28.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $162.62 million during the quarter, compared to analyst estimates of $157.46 million. On average, equities research analysts predict that W&T Offshore, Inc. will post -0.08 earnings per share for the current fiscal year.

W&T Offshore Announces Dividend

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

Hedge Funds Weigh In On W&T Offshore

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC grew its position in shares of W&T Offshore by 309.7% during the first quarter. AQR Capital Management LLC now owns 120,911 shares of the oil and gas company’s stock worth $187,000 after acquiring an additional 91,400 shares during the last quarter. Millennium Management LLC lifted its position in W&T Offshore by 24.2% in the 1st quarter. Millennium Management LLC now owns 3,071,610 shares of the oil and gas company’s stock valued at $4,761,000 after purchasing an additional 598,614 shares during the last quarter. Jane Street Group LLC boosted its stake in W&T Offshore by 826.2% during the 1st quarter. Jane Street Group LLC now owns 324,807 shares of the oil and gas company’s stock valued at $503,000 after purchasing an additional 289,739 shares during the period. Geode Capital Management LLC boosted its stake in W&T Offshore by 2.3% during 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 during the period. Finally, Creative Planning grew its position in W&T Offshore by 42.3% in the 2nd 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.

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.