W&T Offshore, Inc. (NYSE:WTI) Receives Average Recommendation of “Hold” from Analysts

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W&T Offshore, Inc. (NYSE:WTI) has earned an average rating of “Hold” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $9.00.

WTI has been the topic of a number of research analyst reports. Stifel Nicolaus set a $10.00 price target on W&T Offshore and gave the company a “buy” rating in a report on Monday. Seaport Global Securities reissued a “buy” rating on shares of W&T Offshore in a research report on Friday, June 21st. Zacks Investment Research cut W&T Offshore from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Capital One Financial raised W&T Offshore from an “underweight” rating to an “equal weight” rating in a research report on Thursday, May 23rd. Finally, ValuEngine cut W&T Offshore from a “sell” rating to a “strong sell” rating in a research report on Friday, May 3rd.

In related news, CEO Tracy W. Krohn purchased 100,000 shares of W&T Offshore stock in a transaction on Friday, July 12th. The stock was bought at an average price of $4.60 per share, with a total value of $460,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Virginia Boulet purchased 7,000 shares of W&T Offshore stock in a transaction on Friday, June 7th. The stock was bought at an average cost of $4.34 per share, with a total value of $30,380.00. Following the transaction, the director now directly owns 215,373 shares of the company’s stock, valued at $934,718.82. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 151,350 shares of company stock valued at $689,142. Insiders own 33.60% of the company’s stock.

Large investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd lifted its position in shares of W&T Offshore by 1,442.4% in the second quarter. Point72 Hong Kong Ltd now owns 9,825 shares of the oil and gas company’s stock worth $49,000 after buying an additional 9,188 shares during the last quarter. Stone Ridge Asset Management LLC acquired a new stake in shares of W&T Offshore in the second quarter worth about $60,000. Meritage Portfolio Management lifted its position in shares of W&T Offshore by 35.2% in the second quarter. Meritage Portfolio Management now owns 13,980 shares of the oil and gas company’s stock worth $69,000 after buying an additional 3,637 shares during the last quarter. Denali Advisors LLC lifted its position in shares of W&T Offshore by 4,858.7% in the second quarter. Denali Advisors LLC now owns 14,281 shares of the oil and gas company’s stock worth $71,000 after buying an additional 13,993 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new stake in shares of W&T Offshore in the first quarter worth about $114,000. 59.24% of the stock is owned by institutional investors.

Shares of WTI stock traded down $0.16 on Thursday, reaching $4.17. 2,043,006 shares of the company’s stock traded hands, compared to its average volume of 2,505,854. W&T Offshore has a 12-month low of $3.62 and a 12-month high of $9.88. The company has a market capitalization of $655.62 million, a P/E ratio of 4.13 and a beta of 2.99. The company has a 50 day moving average of $4.58.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Wednesday, July 31st. The oil and gas company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.16. W&T Offshore had a negative return on equity of 31.98% and a net margin of 31.72%. The business had revenue of $134.70 million for the quarter, compared to the consensus estimate of $126.50 million. During the same quarter in the previous year, the company posted $0.29 earnings per share. W&T Offshore’s revenue for the quarter was down 10.0% compared to the same quarter last year. Analysts predict that W&T Offshore will post 0.43 earnings per share for the current fiscal year.

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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Analyst Recommendations for W&T Offshore (NYSE:WTI)

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