W&T Offshore (NYSE:WTI) was upgraded by Capital One Financial from an “underweight” rating to an “equal weight” rating in a research note issued on Monday, Marketbeat Ratings reports.
A number of other analysts also recently issued reports on WTI. Zacks Investment Research upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a report on Friday, March 2nd. ValuEngine downgraded shares of W&T Offshore from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $2.88.
W&T Offshore (WTI) traded up $0.08 during midday trading on Monday, hitting $3.78. 2,095,033 shares of the stock were exchanged, compared to its average volume of 2,711,915. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of -1.69. W&T Offshore has a 12 month low of $1.81 and a 12 month high of $5.34. The firm has a market capitalization of $528.55, a P/E ratio of 2.80 and a beta of 2.90.
In related news, SVP Stephen L. Schroeder sold 18,762 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $2.81, for a total transaction of $52,721.22. Following the transaction, the senior vice president now directly owns 366,592 shares in the company, valued at $1,030,123.52. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider John D. Gibbons sold 29,000 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $2.79, for a total transaction of $80,910.00. Following the transaction, the insider now owns 476,030 shares in the company, valued at $1,328,123.70. The disclosure for this sale can be found here. 32.58% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Macquarie Group Ltd. boosted its position in W&T Offshore by 66.6% during the fourth quarter. Macquarie Group Ltd. now owns 480,459 shares of the oil and gas company’s stock worth $1,590,000 after purchasing an additional 192,000 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new position in W&T Offshore during the fourth quarter worth $404,000. TIAA CREF Investment Management LLC boosted its position in W&T Offshore by 314.9% during the fourth quarter. TIAA CREF Investment Management LLC now owns 2,769,368 shares of the oil and gas company’s stock worth $9,167,000 after purchasing an additional 2,101,835 shares during the period. Teachers Advisors LLC boosted its position in W&T Offshore by 31.5% during the fourth quarter. Teachers Advisors LLC now owns 557,143 shares of the oil and gas company’s stock worth $1,844,000 after purchasing an additional 133,354 shares during the period. Finally, Two Sigma Investments LP boosted its position in W&T Offshore by 122.1% during the fourth quarter. Two Sigma Investments LP now owns 376,144 shares of the oil and gas company’s stock worth $1,245,000 after purchasing an additional 206,749 shares during the period. 48.72% of the stock is owned by hedge funds and other institutional investors.
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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