W&T Offshore (NYSE:WTI) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Shares of W&T Offshore, Inc. (NYSE:WTI) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.85 and traded as high as $2.25. W&T Offshore shares last traded at $2.2450, with a volume of 3,159,666 shares traded.

Analyst Upgrades and Downgrades

WTI has been the subject of a number of recent analyst reports. Zacks Research raised shares of W&T Offshore from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

W&T Offshore Stock Performance

The company has a market capitalization of $334.01 million, a P/E ratio of -2.27 and a beta of 0.32. The company’s fifty day simple moving average is $1.76 and its 200-day simple moving average is $1.85.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Wednesday, November 5th. The oil and gas company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.07. The business had revenue of $127.52 million during the quarter, compared to the consensus estimate of $125.69 million. On average, sell-side analysts predict that W&T Offshore, Inc. will post -0.45 EPS for the current year.

W&T Offshore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 19th were issued 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 1.8%. W&T Offshore’s dividend payout ratio is currently -4.04%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in WTI. UBS Group AG boosted its position in W&T Offshore by 381.1% during the fourth quarter. UBS Group AG now owns 2,400,024 shares of the oil and gas company’s stock valued at $3,912,000 after purchasing an additional 1,901,213 shares in the last quarter. Octavia Wealth Advisors LLC lifted its position in shares of W&T Offshore by 61.1% during the fourth quarter. Octavia Wealth Advisors LLC now owns 50,750 shares of the oil and gas company’s stock valued at $83,000 after buying an additional 19,250 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in shares of W&T Offshore by 16.0% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,502,907 shares of the oil and gas company’s stock valued at $2,450,000 after buying an additional 206,810 shares in the last quarter. SG Americas Securities LLC grew its position in shares of W&T Offshore by 81.7% in the 4th quarter. SG Americas Securities LLC now owns 34,165 shares of the oil and gas company’s stock worth $56,000 after buying an additional 15,360 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of W&T Offshore by 447.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 257,635 shares of the oil and gas company’s stock worth $469,000 after acquiring an additional 210,564 shares in the last quarter. 42.88% of the stock is currently owned by hedge funds and other institutional investors.

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.