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

W&T Offshore, Inc. (NYSE:WTI)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.83 and traded as high as $1.86. W&T Offshore shares last traded at $1.8150, with a volume of 1,174,030 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

W&T Offshore Stock Down 1.9%

The firm has a market capitalization of $270.04 million, a PE ratio of -1.83 and a beta of 0.32. The business’s fifty day moving average price is $1.75 and its 200 day moving average price is $1.83.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The company had revenue of $127.52 million for the quarter, compared to analyst estimates of $125.69 million. On average, analysts anticipate that W&T Offshore, Inc. will post -0.45 earnings per share for the current year.

W&T Offshore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 19th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, November 19th. This represents a $0.04 dividend on an annualized basis and a yield of 2.2%. W&T Offshore’s dividend payout ratio is presently -4.04%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. AXQ Capital LP acquired a new stake in W&T Offshore in the third quarter valued at about $28,000. HBK Sorce Advisory LLC purchased a new position in shares of W&T Offshore during the 3rd quarter worth approximately $30,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of W&T Offshore in the third quarter valued at approximately $30,000. CWM LLC grew its holdings 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 worth $31,000 after acquiring an additional 10,904 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in W&T Offshore in the third quarter worth $32,000. 42.88% of the stock is currently owned by institutional investors and hedge funds.

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.