W&T Offshore (NYSE:WTI) Price Target Increased to $7.80 by Analysts at Stifel Nicolaus

W&T Offshore (NYSE:WTI) had its target price increased by Stifel Nicolaus from $7.50 to $7.80 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the oil and gas company’s stock.

W&T Offshore Price Performance

Shares of NYSE WTI opened at $2.41 on Tuesday. W&T Offshore has a twelve month low of $2.32 and a twelve month high of $4.60. The stock’s 50 day moving average price is $2.71 and its 200-day moving average price is $3.18. The company has a market capitalization of $353.19 million, a PE ratio of 24.05 and a beta of 1.52. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 11.58.

W&T Offshore (NYSE:WTI) last announced its earnings results on Tuesday, March 5th. The oil and gas company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). W&T Offshore had a negative return on equity of 71.70% and a net margin of 2.93%. The business had revenue of $132.30 million during the quarter, compared to analysts’ expectations of $138.23 million. During the same quarter in the previous year, the firm earned $0.10 EPS. W&T Offshore’s quarterly revenue was down 30.3% on a year-over-year basis. On average, equities analysts anticipate that W&T Offshore will post -0.05 EPS for the current year.

W&T Offshore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 18th were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.66%. W&T Offshore’s dividend payout ratio (DPR) is presently 40.00%.

Institutional Investors Weigh In On W&T Offshore

A number of hedge funds have recently modified their holdings of the stock. Octavia Wealth Advisors LLC raised its holdings in shares of W&T Offshore by 51.4% in the 4th quarter. Octavia Wealth Advisors LLC now owns 18,315 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 6,215 shares during the period. Signaturefd LLC raised its holdings in shares of W&T Offshore by 907.2% in the 4th quarter. Signaturefd LLC now owns 8,390 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 7,557 shares during the period. SG Americas Securities LLC raised its holdings in shares of W&T Offshore by 72.3% in the 4th quarter. SG Americas Securities LLC now owns 20,206 shares of the oil and gas company’s stock worth $66,000 after purchasing an additional 8,478 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of W&T Offshore by 131.6% in the 4th quarter. Quadrant Capital Group LLC now owns 15,607 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 8,869 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of W&T Offshore by 8.7% in the 3rd quarter. Deutsche Bank AG now owns 114,419 shares of the oil and gas company’s stock worth $501,000 after purchasing an additional 9,146 shares during the period. Institutional investors own 42.88% of the company’s stock.

W&T Offshore Company Profile

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.