W&T Offshore (WTI) Trading 7.3% Higher

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W&T Offshore, Inc. (NYSE:WTI) shares traded up 7.3% during mid-day trading on Thursday . The company traded as high as $6.94 and last traded at $6.91. 4,536,563 shares traded hands during trading, an increase of 52% from the average session volume of 2,983,719 shares. The stock had previously closed at $6.44.

A number of research analysts recently issued reports on the stock. Seaport Global Securities upgraded shares of W&T Offshore to a “buy” rating in a report on Thursday. Capital One Financial cut shares of W&T Offshore from an “equal weight” rating to an “underweight” rating in a report on Wednesday, May 16th. KLR Group cut shares of W&T Offshore from a “hold” rating to a “sell” rating and set a $6.00 price objective for the company. in a report on Tuesday, May 15th. Roth Capital assumed coverage on shares of W&T Offshore in a report on Wednesday, May 23rd. They set a “neutral” rating and a $8.75 price objective for the company. Finally, Zacks Investment Research cut shares of W&T Offshore from a “buy” rating to a “hold” rating in a report on Saturday, May 19th. Five research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $5.88.

The firm has a market cap of $930.52 million, a price-to-earnings ratio of 12.34 and a beta of 2.72. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of -1.78.

W&T Offshore (NYSE:WTI) last released its quarterly earnings results on Wednesday, May 2nd. The oil and gas company reported $0.19 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.19. The company had revenue of $134.20 million during the quarter, compared to analysts’ expectations of $137.80 million. W&T Offshore had a net margin of 16.71% and a negative return on equity of 15.43%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.16 earnings per share. equities research analysts expect that W&T Offshore, Inc. will post 0.66 earnings per share for the current fiscal year.

In related news, Director Virginia Boulet purchased 5,950 shares of W&T Offshore stock in a transaction dated Friday, June 1st. The stock was bought at an average price of $6.83 per share, for a total transaction of $40,638.50. Following the completion of the acquisition, the director now directly owns 195,783 shares of the company’s stock, valued at $1,337,197.89. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 33.76% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Jefferies Group LLC acquired a new position in shares of W&T Offshore in the fourth quarter valued at approximately $191,000. Cubist Systematic Strategies LLC lifted its position in shares of W&T Offshore by 103.1% in the first quarter. Cubist Systematic Strategies LLC now owns 45,271 shares of the oil and gas company’s stock worth $201,000 after purchasing an additional 22,977 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in shares of W&T Offshore by 183.5% in the first quarter. MetLife Investment Advisors LLC now owns 50,382 shares of the oil and gas company’s stock worth $223,000 after purchasing an additional 32,613 shares in the last quarter. Barclays PLC lifted its position in shares of W&T Offshore by 99.5% in the first quarter. Barclays PLC now owns 54,373 shares of the oil and gas company’s stock worth $241,000 after purchasing an additional 27,120 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of W&T Offshore in the fourth quarter worth $246,000. Institutional investors own 50.99% of the company’s stock.

About W&T Offshore

W&T Offshore, Inc, an independent oil and natural gas producer, acquires, explores for, and develops oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interests in approximately 49 offshore fields in federal and state waters.

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