W&T Offshore (WTI) Shares Gap Up to $6.31

Shares of W&T Offshore, Inc. (NYSE:WTI) gapped up prior to trading on Tuesday . The stock had previously closed at $6.50, but opened at $6.31. W&T Offshore shares last traded at $6.18, with a volume of 91234 shares.

Several analysts have commented on the stock. Zacks Investment Research upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research note on Tuesday, November 20th. ValuEngine cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Roth Capital upgraded shares of W&T Offshore from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $8.50 to $10.75 in a research note on Monday, October 15th. Finally, KLR Group reiterated a “sell” rating and issued a $6.25 price target on shares of W&T Offshore in a research note on Monday, August 20th. Three investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $7.92.

The stock has a market cap of $808.48 million, a PE ratio of 10.89 and a beta of 2.78.

W&T Offshore (NYSE:WTI) last announced its earnings results on Wednesday, October 31st. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm had revenue of $153.50 million for the quarter, compared to analysts’ expectations of $146.97 million. W&T Offshore had a net margin of 23.54% and a negative return on equity of 26.51%. The business’s revenue was up 39.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. Equities analysts forecast that W&T Offshore, Inc. will post 0.95 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in WTI. Raymond James & Associates bought a new position in W&T Offshore during the 2nd quarter valued at about $101,000. Paloma Partners Management Co bought a new position in W&T Offshore during the 3rd quarter valued at about $102,000. LPL Financial LLC bought a new position in W&T Offshore during the 3rd quarter valued at about $140,000. Teacher Retirement System of Texas bought a new position in W&T Offshore during the 2nd quarter valued at about $141,000. Finally, Thompson Davis & CO. Inc. bought a new position in W&T Offshore during the 2nd quarter valued at about $152,000. Hedge funds and other institutional investors own 66.27% of the company’s stock.

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W&T Offshore Company Profile (NYSE:WTI)

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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