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

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

W&T Offshore Price Performance

Shares of WTI stock opened at $2.41 on Tuesday. The stock’s fifty day simple moving average is $2.71 and its 200 day simple moving average is $3.18. The company has a debt-to-equity ratio of 11.58, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $353.19 million, a price-to-earnings ratio of 24.05 and a beta of 1.52. W&T Offshore has a one year low of $2.32 and a one year high of $4.60.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Tuesday, March 5th. The oil and gas company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). The company had revenue of $132.30 million during 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%. W&T Offshore’s quarterly revenue was down 30.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. On average, analysts expect that W&T Offshore will post -0.05 earnings per share for the current fiscal year.

W&T Offshore Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were given a $0.01 dividend. The ex-dividend date was Friday, March 15th. This represents a $0.04 annualized dividend and a yield of 1.66%. W&T Offshore’s payout ratio is 40.00%.

Hedge Funds Weigh In On W&T Offshore

Institutional investors have recently bought and sold shares of the business. Signaturefd LLC raised its position in W&T Offshore by 907.2% in the 4th quarter. Signaturefd LLC now owns 8,390 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 7,557 shares during the last quarter. Sanders Morris Harris LLC bought a new position in W&T Offshore in the 1st quarter valued at $26,000. Norden Group LLC bought a new position in W&T Offshore in the 1st quarter valued at $29,000. SG Americas Securities LLC bought a new position in W&T Offshore in the 3rd quarter valued at $51,000. Finally, Quadrant Capital Group LLC raised its position in W&T Offshore by 131.6% in the 4th quarter. Quadrant Capital Group LLC now owns 15,607 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 8,869 shares during the last quarter. Institutional investors own 42.88% of the company’s stock.

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.