W&T Offshore (WTI) Shares Gap Down to $4.59

W&T Offshore, Inc. (NYSE:WTI) gapped down before the market opened on Thursday . The stock had previously closed at $4.74, but opened at $4.59. W&T Offshore shares last traded at $4.33, with a volume of 3151393 shares trading hands.

A number of equities research analysts have weighed in on WTI shares. ValuEngine upgraded shares of W&T Offshore from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Zacks Investment Research lowered shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Finally, Stifel Nicolaus began coverage on shares of W&T Offshore in a research note on Thursday, March 7th. They issued a “buy” rating and a $10.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $8.75.

The company has a market cap of $697.59 million, a P/E ratio of 4.29 and a beta of 2.85.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.06). W&T Offshore had a net margin of 30.83% and a negative return on equity of 29.98%. The business had revenue of $116.08 million during the quarter, compared to analysts’ expectations of $120.51 million. During the same period in the previous year, the business posted $0.19 EPS. The company’s revenue for the quarter was down 13.5% compared to the same quarter last year. Equities analysts predict that W&T Offshore, Inc. will post 0.46 EPS for the current year.

In other news, insider Shahid Ghauri purchased 7,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average price of $6.01 per share, for a total transaction of $42,070.00. Following the completion of the purchase, the insider now directly owns 8,000 shares of the company’s stock, valued at $48,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David M. Bump sold 10,000 shares of W&T Offshore stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $5.40, for a total transaction of $54,000.00. Following the completion of the transaction, the insider now owns 54,719 shares of the company’s stock, valued at approximately $295,482.60. The disclosure for this sale can be found here. In the last three months, insiders bought 27,000 shares of company stock valued at $158,170. Insiders own 33.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of WTI. Creative Planning purchased a new position in W&T Offshore in the fourth quarter worth approximately $43,000. Cigna Investments Inc. New lifted its stake in 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 worth $63,000 after acquiring an additional 4,256 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in W&T Offshore in the fourth quarter worth approximately $70,000. Legal & General Group Plc lifted its stake in 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 worth $74,000 after acquiring an additional 3,335 shares during the last quarter. Finally, Cipher Capital LP purchased a new position in W&T Offshore in the fourth quarter worth approximately $76,000. Institutional investors own 63.87% of the company’s stock.

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About W&T Offshore (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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