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

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

W&T Offshore Stock Performance

NYSE:WTI opened at $2.36 on Tuesday. 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 firm has a market capitalization of $345.86 million, a price-to-earnings ratio of 23.55 and a beta of 1.52. The firm’s fifty day simple moving average is $2.68 and its 200 day simple moving average is $3.15. W&T Offshore has a twelve month low of $2.30 and a twelve month high of $4.54.

W&T Offshore (NYSE:WTI) last posted 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 business had revenue of $132.30 million for the quarter, compared to analyst estimates of $138.23 million. W&T Offshore had a net margin of 2.93% and a negative return on equity of 71.70%. The business’s revenue was down 30.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.10 EPS. As a group, equities research analysts expect that W&T Offshore will post -0.12 earnings per share for the current fiscal year.

W&T Offshore Announces Dividend

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

Institutional Investors Weigh In On W&T Offshore

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WTI. Sanders Morris Harris LLC purchased a new stake in W&T Offshore during the 1st quarter worth $26,000. Signaturefd LLC increased its stake in W&T Offshore by 907.2% during the 4th quarter. Signaturefd LLC now owns 8,390 shares of the oil and gas company’s stock worth $27,000 after buying an additional 7,557 shares during the period. Norden Group LLC purchased a new stake in W&T Offshore during the 1st quarter worth $29,000. SG Americas Securities LLC purchased a new stake in W&T Offshore during the 3rd quarter worth $51,000. Finally, Quadrant Capital Group LLC increased its stake in W&T Offshore by 131.6% during the 4th quarter. Quadrant Capital Group LLC now owns 15,607 shares of the oil and gas company’s stock worth $51,000 after buying an additional 8,869 shares during the period. Hedge funds and other 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.