W&T Offshore, Inc. (WTI) Receives Consensus Recommendation of “Hold” from Analysts
W&T Offshore, Inc. (NYSE:WTI) has earned a consensus rating of “Hold” from the six brokerages that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $2.50.
WTI has been the topic of several research reports. BidaskClub downgraded W&T Offshore from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised W&T Offshore from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research report on Saturday, September 9th. ValuEngine raised W&T Offshore from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Barclays PLC reissued a “sell” rating and issued a $1.50 target price on shares of W&T Offshore in a research report on Friday, July 7th.
Shares of W&T Offshore (NYSE:WTI) traded up 2.52% during mid-day trading on Friday, reaching $2.85. The company’s stock had a trading volume of 1,966,811 shares. The firm has a market cap of $392.09 million, a PE ratio of 3.06 and a beta of 2.41. W&T Offshore has a one year low of $1.31 and a one year high of $3.47. The firm’s 50 day moving average is $1.99 and its 200 day moving average is $2.19.
W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.21. The business had revenue of $123.32 million for the quarter, compared to the consensus estimate of $121.30 million. W&T Offshore had a negative return on equity of 6.08% and a net margin of 25.52%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.47) earnings per share. On average, equities analysts anticipate that W&T Offshore will post $0.53 earnings per share for the current fiscal year.
In other news, Director Virginia Boulet bought 16,500 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were purchased at an average cost of $2.46 per share, with a total value of $40,590.00. Following the transaction, the director now directly owns 178,047 shares in the company, valued at $437,995.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stuart B. Katz bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of $1.85 per share, for a total transaction of $92,500.00. Following the completion of the transaction, the director now owns 205,113 shares in the company, valued at $379,459.05. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 1,388,841 shares of company stock worth $2,804,309. 32.58% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. acquired a new position in shares of W&T Offshore in the 1st quarter valued at $124,000. Morgan Stanley increased its position in shares of W&T Offshore by 247.6% in the 1st quarter. Morgan Stanley now owns 503,827 shares of the oil and gas company’s stock valued at $1,396,000 after acquiring an additional 358,874 shares during the period. Columbia Pacific Advisors LLC increased its position in shares of W&T Offshore by 43.9% in the 1st quarter. Columbia Pacific Advisors LLC now owns 466,239 shares of the oil and gas company’s stock valued at $1,291,000 after acquiring an additional 142,139 shares during the period. Menta Capital LLC purchased a new stake in W&T Offshore in the first quarter valued at $960,000. Finally, Quantitative Investment Management LLC purchased a new stake in W&T Offshore in the first quarter valued at $775,000. 49.12% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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