W&T Offshore (NYSE:WTI) Shares Up 6.7% – Should You Buy?

Shares of W&T Offshore, Inc. (NYSE:WTI) were up 6.7% on Monday . The stock traded as high as $3.63 and last traded at $3.5950. 3,255,392 shares traded hands during trading, a decline of 48% from the average session volume of 6,226,578 shares. The stock had previously closed at $3.37.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. William Blair assumed coverage on W&T Offshore in a research report on Friday, April 17th. They issued an “outperform” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a report on Monday, April 20th. Finally, Wall Street Zen downgraded shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

W&T Offshore Price Performance

The company has a market capitalization of $533.08 million, a price-to-earnings ratio of -3.77 and a beta of 0.24. The firm’s fifty day moving average price is $3.75 and its 200-day moving average price is $3.03.

W&T Offshore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Thursday, May 21st were given a $0.01 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.04 annualized dividend and a yield of 1.1%. W&T Offshore’s dividend payout ratio (DPR) is currently -4.21%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. StoneX Group Inc. acquired a new stake in W&T Offshore during the 4th quarter worth approximately $28,000. Oxford Asset Management LLP bought a new position in shares of W&T Offshore during the second quarter valued at $29,000. Dynamic Technology Lab Private Ltd bought a new position in shares of W&T Offshore during the third quarter valued at $32,000. Engineers Gate Manager LP acquired a new position in shares of W&T Offshore during the fourth quarter worth $32,000. Finally, Capricorn Fund Managers Ltd acquired a new position in shares of W&T Offshore during the first quarter worth $34,000. Institutional investors and hedge funds own 42.88% of the company’s stock.

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.