Insider Buying: W&T Offshore Director Buys 3,000 Shares of Stock (WTI)
W&T Offshore (NYSE:WTI) Director Stuart B. Katz acquired 3,000 shares of W&T Offshore stock on the open market in a transaction dated Tuesday, August 12th. The shares were purchased at an average cost of $13.61 per share, with a total value of $40,830.00. Following the purchase, the director now directly owns 38,430 shares of the company’s stock, valued at approximately $523,032. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
W&T Offshore (NYSE:WTI) traded down 0.58% during mid-day trading on Wednesday, hitting $13.72. 506,969 shares of the company’s stock traded hands. W&T Offshore has a 1-year low of $12.77 and a 1-year high of $20.43. The stock has a 50-day moving average of $14.92 and a 200-day moving average of $15.67. The company has a market cap of $1.037 billion and a price-to-earnings ratio of 44.52.
W&T Offshore (NYSE:WTI) last announced its earnings results on Wednesday, August 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.10. Analysts expect that W&T Offshore will post $0.57 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 12th. Investors of record on Friday, August 22nd will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, August 20th.
Separately, analysts at Barclays cut their price target on shares of W&T Offshore from $20.00 to $18.00 in a research note on Wednesday, July 23rd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.25.
W&T Offshore, Inc (NYSE:WTI) is an independent oil and natural gas producer, engaged in the acquisition, exploration and development of oil and natural gas properties primarily in the Gulf of Mexico and Texas.
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