W&T Offshore, Inc. (NYSE:WTI) Director Virginia Boulet acquired 16,500 shares of the stock in a transaction dated Thursday, September 14th. The shares were bought at an average cost of $2.46 per share, for a total transaction of $40,590.00. Following the acquisition, the director now owns 178,047 shares in the company, valued at approximately $437,995.62. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
W&T Offshore, Inc. (WTI) traded down 3.23% during mid-day trading on Friday, reaching $2.40. The company’s stock had a trading volume of 7,866,575 shares. The stock has a market cap of $330.18 million, a PE ratio of 2.58 and a beta of 2.41. The company has a 50 day moving average of $1.96 and a 200-day moving average of $2.20. W&T Offshore, Inc. has a 52-week low of $1.31 and a 52-week high of $3.47.
W&T Offshore (NYSE:WTI) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.21. The firm had revenue of $123.32 million for the quarter, compared to analyst estimates of $121.30 million. W&T Offshore had a negative return on equity of 6.08% and a net margin of 25.52%. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.47) earnings per share. Equities analysts forecast that W&T Offshore, Inc. will post $0.53 earnings per share for the current year.
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A number of brokerages have recently commented on WTI. Zacks Investment Research raised W&T Offshore from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. ValuEngine lowered W&T Offshore from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Barclays PLC reissued a “sell” rating and set a $1.50 price objective on shares of W&T Offshore in a report on Friday, July 7th. Finally, BidaskClub lowered W&T Offshore from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $2.50.
A number of large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio raised its stake in W&T Offshore by 4.1% in the first quarter. Public Employees Retirement System of Ohio now owns 42,234 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 1,672 shares during the period. Tudor Investment Corp ET AL raised its stake in W&T Offshore by 23.3% in the first quarter. Tudor Investment Corp ET AL now owns 39,520 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 7,478 shares during the period. Bank of New York Mellon Corp raised its stake in W&T Offshore by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 151,848 shares of the oil and gas company’s stock valued at $420,000 after buying an additional 8,072 shares during the period. Virtu KCG Holdings LLC raised its stake in W&T Offshore by 9.0% in the second quarter. Virtu KCG Holdings LLC now owns 125,107 shares of the oil and gas company’s stock valued at $245,000 after buying an additional 10,278 shares during the period. Finally, New York State Common Retirement Fund raised its stake in 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 valued at $102,000 after buying an additional 19,899 shares during the period. Hedge funds and other institutional investors own 50.88% of the company’s stock.
W&T Offshore Company Profile
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.
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