W&T Offshore, Inc. (NYSE:WTI) was the target of unusually large options trading on Tuesday. Traders purchased 3,042 put options on the company. This represents an increase of 2,205% compared to the average daily volume of 132 put options.
Several brokerages recently commented on WTI. Zacks Investment Research cut W&T Offshore from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. ValuEngine cut W&T Offshore from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 29th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $7.67.
A number of hedge funds and other institutional investors have recently modified their holdings of WTI. Creative Planning acquired a new position in W&T Offshore during the fourth quarter valued at approximately $43,000. Cigna Investments Inc. New lifted its position in shares of W&T Offshore by 38.5% in the fourth quarter. Cigna Investments Inc. New now owns 15,322 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 4,256 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of W&T Offshore in the fourth quarter valued at approximately $70,000. Legal & General Group Plc lifted its position in shares of W&T Offshore by 22.9% in the fourth quarter. Legal & General Group Plc now owns 17,914 shares of the oil and gas company’s stock valued at $74,000 after buying an additional 3,335 shares during the last quarter. Finally, Cipher Capital LP acquired a new stake in shares of W&T Offshore in the fourth quarter valued at approximately $76,000. 65.84% of the stock is owned by hedge funds and other institutional investors.
W&T Offshore Company Profile
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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