Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of W&T Offshore from a strong-buy rating to a hold rating in a report on Tuesday, April 30th. Stifel Nicolaus assumed coverage on shares of W&T Offshore in a report on Thursday, March 7th. They set a buy rating and a $10.00 target price on the stock. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $8.75.
Shares of NYSE:WTI opened at $5.29 on Friday. The firm has a market capitalization of $744.01 million, a PE ratio of 5.24 and a beta of 2.85. W&T Offshore has a one year low of $3.62 and a one year high of $9.88.
W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.06). The company had revenue of $116.08 million during the quarter, compared to the consensus estimate of $120.51 million. W&T Offshore had a negative return on equity of 28.97% and a net margin of 30.83%. W&T Offshore’s quarterly revenue was down 13.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.19 EPS. On average, equities research analysts expect that W&T Offshore will post 0.53 earnings per share for the current fiscal year.
In other W&T Offshore news, Director B Frank Stanley bought 10,000 shares of W&T Offshore stock in a transaction that occurred on Wednesday, March 20th. The shares were bought at an average price of $6.51 per share, with a total value of $65,100.00. Following the acquisition, the director now owns 172,063 shares in the company, valued at $1,120,130.13. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shahid Ghauri bought 7,000 shares of W&T Offshore stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average cost of $6.01 per share, for a total transaction of $42,070.00. Following the acquisition, the insider now owns 8,000 shares in the company, valued at approximately $48,080. The disclosure for this purchase can be found here. 33.60% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Capital Impact Advisors LLC boosted its position in W&T Offshore by 26.4% during the 4th quarter. Capital Impact Advisors LLC now owns 266,621 shares of the oil and gas company’s stock valued at $1,090,000 after buying an additional 55,670 shares during the period. Vanguard Group Inc. boosted its position in W&T Offshore by 14.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,180,823 shares of the oil and gas company’s stock valued at $78,864,000 after buying an additional 1,053,062 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in W&T Offshore by 43.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 570,260 shares of the oil and gas company’s stock valued at $2,349,000 after buying an additional 172,312 shares during the period. Cigna Investments Inc. New boosted its position in W&T Offshore by 38.5% during the 4th quarter. Cigna Investments Inc. New now owns 15,322 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 4,256 shares during the period. Finally, Principal Financial Group Inc. boosted its position in W&T Offshore by 59.4% during the 4th quarter. Principal Financial Group Inc. now owns 79,019 shares of the oil and gas company’s stock valued at $326,000 after buying an additional 29,454 shares during the period. 64.01% of the stock is owned by institutional investors and hedge funds.
About W&T Offshore
W&T Offshore, Inc, an independent oil and natural gas producer, acquires, explores for, and develops oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interests in approximately 49 offshore fields in federal and state waters.
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