W&T Offshore (NYSE:WTI) Share Price Passes Above 200 Day Moving Average – What’s Next?

W&T Offshore, Inc. (NYSE:WTI)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.63 and traded as high as $1.90. W&T Offshore shares last traded at $1.85, with a volume of 1,095,126 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WTI. Wall Street Zen raised W&T Offshore from a “sell” rating to a “hold” rating in a report on Sunday, September 14th. Pareto Securities began coverage on W&T Offshore in a report on Thursday, September 4th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

W&T Offshore Price Performance

The company has a market cap of $273.69 million, a PE ratio of -2.43 and a beta of 0.65. The business has a 50-day moving average of $1.79 and a 200 day moving average of $1.63.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Monday, August 4th. The oil and gas company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.06. The firm had revenue of $122.37 million for the quarter, compared to analysts’ expectations of $131.30 million. On average, equities analysts predict that W&T Offshore, Inc. will post -0.45 EPS for the current fiscal year.

W&T Offshore Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, August 18th. W&T Offshore’s dividend payout ratio is -5.26%.

Institutional Trading of W&T Offshore

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. increased its position in W&T Offshore by 42.7% in the second quarter. Raymond James Financial Inc. now owns 21,957 shares of the oil and gas company’s stock worth $36,000 after buying an additional 6,569 shares in the last quarter. Inspire Advisors LLC increased its position in W&T Offshore by 10.0% in the first quarter. Inspire Advisors LLC now owns 120,643 shares of the oil and gas company’s stock worth $187,000 after buying an additional 10,962 shares in the last quarter. Creative Planning increased its position in W&T Offshore by 42.3% in the second quarter. Creative Planning now owns 42,885 shares of the oil and gas company’s stock worth $71,000 after buying an additional 12,749 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in W&T Offshore by 18.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 97,443 shares of the oil and gas company’s stock worth $161,000 after buying an additional 14,988 shares in the last quarter. Finally, R Squared Ltd increased its position in W&T Offshore by 48.6% in the first quarter. R Squared Ltd now owns 48,500 shares of the oil and gas company’s stock worth $75,000 after buying an additional 15,870 shares in the last quarter. Hedge funds and other institutional investors own 42.88% of the company’s stock.

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.