Investors Purchase High Volume of W&T Offshore Call Options (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) was the recipient of some unusual options trading on Friday. Investors acquired 30,845 call options on the stock. This represents an increase of approximately 3,482% compared to the average daily volume of 861 call options.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a report on Wednesday, January 21st. Zacks Research raised shares of W&T Offshore from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

W&T Offshore Price Performance

Shares of NYSE WTI opened at $2.39 on Friday. The company’s 50-day moving average is $1.81 and its 200 day moving average is $1.87. The stock has a market capitalization of $355.58 million, a P/E ratio of -2.41 and a beta of 0.35. W&T Offshore has a 1 year low of $1.09 and a 1 year high of $2.59.

W&T Offshore (NYSE:WTI) last released its earnings results on Wednesday, November 5th. The oil and gas company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. The firm had revenue of $127.52 million for the quarter, compared to analysts’ expectations of $125.69 million. Research analysts anticipate that W&T Offshore will post -0.45 earnings per share for the current year.

Institutional Investors Weigh In On W&T Offshore

Several institutional investors and hedge funds have recently modified their holdings of WTI. AXQ Capital LP bought a new position in shares of W&T Offshore during the third quarter worth $28,000. Oxford Asset Management LLP purchased a new stake in W&T Offshore in the 2nd quarter worth $29,000. HBK Sorce Advisory LLC purchased a new stake in W&T Offshore in the 3rd quarter worth $30,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of W&T Offshore during the third quarter valued at about $30,000. Finally, CWM LLC grew its position in shares of W&T Offshore by 181.6% during the third quarter. CWM LLC now owns 16,908 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 10,904 shares in the last quarter. Institutional investors own 42.88% of the company’s stock.

About W&T Offshore

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.