W&T Offshore Target of Unusually High Options Trading (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) saw unusually large options trading on Friday. Traders bought 4,052 call options on the stock. This represents an increase of 591% compared to the average daily volume of 586 call options.

Hedge Funds Weigh In On W&T Offshore

Several large investors have recently modified their holdings of WTI. Raymond James Financial Inc. bought a new position in shares of W&T Offshore during the fourth quarter worth about $32,000. US Bancorp DE bought a new position in shares of W&T Offshore during the fourth quarter worth about $33,000. Ethic Inc. acquired a new stake in W&T Offshore during the fourth quarter worth about $36,000. Boothbay Fund Management LLC acquired a new stake in W&T Offshore during the fourth quarter worth about $41,000. Finally, RPO LLC acquired a new stake in W&T Offshore during the fourth quarter worth about $55,000. Institutional investors own 42.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded W&T Offshore from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th.

W&T Offshore Price Performance

W&T Offshore stock opened at $2.17 on Friday. W&T Offshore has a 1-year low of $1.09 and a 1-year high of $2.84. The stock has a market cap of $319.66 million, a PE ratio of -3.01 and a beta of 0.65. The stock’s fifty day moving average is $1.49 and its two-hundred day moving average is $1.56.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The company had revenue of $129.87 million for the quarter, compared to analyst estimates of $123.91 million. W&T Offshore had a negative return on equity of 775.16% and a negative net margin of 20.66%. On average, research analysts expect that W&T Offshore will post -0.45 earnings per share for the current fiscal year.

W&T Offshore Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 20th were given a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.04 dividend on an annualized basis and a yield of 1.85%. W&T Offshore’s payout ratio is currently -5.56%.

About W&T Offshore

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.