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

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

W&T Offshore Price Performance

Shares of NYSE:WTI opened at $2.36 on Tuesday. The firm has a market cap of $345.86 million, a price-to-earnings ratio of 23.55 and a beta of 1.52. W&T Offshore has a 1 year low of $2.30 and a 1 year high of $4.54. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 11.58. The business has a fifty day simple moving average of $2.68 and a 200 day simple moving average of $3.15.

W&T Offshore (NYSE:WTI) last issued its earnings results on Tuesday, March 5th. The oil and gas company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.08). The firm had revenue of $132.30 million during the quarter, compared to analyst estimates of $138.23 million. W&T Offshore had a negative return on equity of 71.70% and a net margin of 2.93%. The business’s revenue for the quarter was down 30.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 earnings per share. As a group, sell-side analysts predict that W&T Offshore will post -0.12 earnings per share for the current fiscal year.

W&T Offshore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Friday, March 15th. W&T Offshore’s dividend payout ratio (DPR) is presently 40.00%.

Institutional Trading of W&T Offshore

A number of institutional investors have recently added to or reduced their stakes in WTI. HighTower Advisors LLC lifted its stake in W&T Offshore by 140.7% in the third quarter. HighTower Advisors LLC now owns 1,988,620 shares of the oil and gas company’s stock valued at $8,691,000 after acquiring an additional 1,162,340 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in W&T Offshore in the third quarter valued at approximately $3,870,000. Russell Investments Group Ltd. lifted its stake in W&T Offshore by 232.2% in the fourth quarter. Russell Investments Group Ltd. now owns 850,255 shares of the oil and gas company’s stock valued at $2,772,000 after acquiring an additional 594,333 shares during the last quarter. Jump Financial LLC acquired a new stake in W&T Offshore in the fourth quarter valued at approximately $758,000. Finally, BNP Paribas Financial Markets lifted its stake in W&T Offshore by 81.2% in the fourth quarter. BNP Paribas Financial Markets now owns 262,124 shares of the oil and gas company’s stock valued at $855,000 after acquiring an additional 117,462 shares during the last quarter. 42.88% of the stock is currently owned by institutional investors and hedge funds.

About W&T Offshore

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.