W&T Offshore, Inc. (NYSE:WTI) Director Virginia Boulet purchased 16,500 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was acquired at an average cost of $2.46 per share, for a total transaction of $40,590.00. Following the transaction, the director now owns 178,047 shares in the company, valued at approximately $437,995.62. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

W&T Offshore, Inc. (NYSE:WTI) traded down 3.23% during trading on Friday, hitting $2.40. 7,866,575 shares of the company’s stock traded hands. W&T Offshore, Inc. has a 12 month low of $1.31 and a 12 month high of $3.47. The stock has a market cap of $330.18 million, a P/E ratio of 2.58 and a beta of 2.41. The company’s 50 day moving average is $1.95 and its 200-day moving average is $2.20.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.21. W&T Offshore had a net margin of 25.52% and a negative return on equity of 6.08%. The firm had revenue of $123.32 million for the quarter, compared to analysts’ expectations of $121.30 million. During the same quarter in the prior year, the company posted ($0.47) earnings per share. The business’s revenue for the quarter was up 23.7% on a year-over-year basis. On average, analysts predict that W&T Offshore, Inc. will post $0.53 earnings per share for the current year.

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Several brokerages recently weighed in on WTI. Zacks Investment Research raised shares of W&T Offshore from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. ValuEngine cut shares of W&T Offshore from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Barclays PLC reissued a “sell” rating and set a $1.50 target price on shares of W&T Offshore in a research report on Friday, July 7th. Finally, BidaskClub cut shares of W&T Offshore from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. W&T Offshore presently has an average rating of “Hold” and a consensus target price of $2.50.

A number of institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its position in W&T Offshore by 132.2% during the second quarter. California State Teachers Retirement System now owns 166,175 shares of the oil and gas company’s stock valued at $326,000 after purchasing an additional 94,600 shares during the period. The Manufacturers Life Insurance Company lifted its position in W&T Offshore by 782.6% during the second quarter. The Manufacturers Life Insurance Company now owns 82,579 shares of the oil and gas company’s stock valued at $162,000 after purchasing an additional 73,223 shares during the period. State Street Corp lifted its position in W&T Offshore by 103.7% during the second quarter. State Street Corp now owns 1,265,497 shares of the oil and gas company’s stock valued at $2,481,000 after purchasing an additional 644,138 shares during the period. Columbia Pacific Advisors LLC lifted its position in W&T Offshore by 16.8% during the second quarter. Columbia Pacific Advisors LLC now owns 544,611 shares of the oil and gas company’s stock valued at $1,067,000 after purchasing an additional 78,372 shares during the period. Finally, Zacks Investment Management lifted its position in W&T Offshore by 68.8% during the second quarter. Zacks Investment Management now owns 66,916 shares of the oil and gas company’s stock valued at $131,000 after purchasing an additional 27,270 shares during the period. Institutional investors own 50.88% of the company’s stock.

W&T Offshore Company Profile

W&T Offshore, Inc is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. As of December 31, 2016, the Company had interests in offshore leases covering approximately 750,000 gross acres (450,000 net acres) spanning across the Outer Continental Shelf (OCS) off the coasts of Louisiana, Texas, Mississippi and Alabama.

Insider Buying and Selling by Quarter for W&T Offshore (NYSE:WTI)

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