W&T Offshore (WTI) Stock Price Up 8.6%

W&T Offshore, Inc. (NYSE:WTI) rose 8.6% during trading on Tuesday . The company traded as high as $3.31 and last traded at $3.30. Approximately 2,424,043 shares changed hands during trading, an increase of 28% from the average daily volume of 1,898,737 shares. The stock had previously closed at $3.04.

Separately, Zacks Investment Research upgraded W&T Offshore from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research report on Saturday, September 9th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. W&T Offshore presently has a consensus rating of “Hold” and a consensus target price of $2.50.

The firm has a market capitalization of $418.98, a PE ratio of 6.35 and a beta of 2.50. The company has a debt-to-equity ratio of -1.65, a quick ratio of 1.22 and a current ratio of 1.22.

W&T Offshore (NYSE:WTI) last released its earnings results on Wednesday, November 1st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.06. The company had revenue of $110.30 million during the quarter, compared to analyst estimates of $119.50 million. W&T Offshore had a negative return on equity of 10.86% and a net margin of 15.38%. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.24) earnings per share. equities analysts anticipate that W&T Offshore, Inc. will post 0.48 earnings per share for the current year.

In other news, SVP Stephen L. Schroeder sold 18,762 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $2.81, for a total value of $52,721.22. Following the completion of the sale, the senior vice president now owns 366,592 shares in the company, valued at $1,030,123.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John D. Gibbons sold 29,000 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $2.79, for a total value of $80,910.00. Following the completion of the sale, the insider now owns 476,030 shares of the company’s stock, valued at approximately $1,328,123.70. The disclosure for this sale can be found here. 32.58% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of WTI. New York State Common Retirement Fund increased its stake in shares of W&T Offshore by 62.0% in the second quarter. New York State Common Retirement Fund now owns 52,000 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 19,899 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of W&T Offshore in the third quarter worth $120,000. Zacks Investment Management increased its stake in shares of W&T Offshore by 68.8% in the second quarter. Zacks Investment Management now owns 66,916 shares of the oil and gas company’s stock worth $131,000 after acquiring an additional 27,270 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of W&T Offshore by 782.6% in the second quarter. The Manufacturers Life Insurance Company now owns 82,579 shares of the oil and gas company’s stock worth $162,000 after acquiring an additional 73,223 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of W&T Offshore by 58.5% in the second quarter. Alliancebernstein L.P. now owns 91,308 shares of the oil and gas company’s stock worth $179,000 after acquiring an additional 33,700 shares during the last quarter. 47.98% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This piece was originally published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another site, it was stolen and reposted in violation of United States and international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.com-unik.info/2017/12/26/wt-offshore-wti-stock-price-up-8-6.html.

About W&T Offshore

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.

What are top analysts saying about W&T Offshore? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for W&T Offshore and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit