Insider Buying: W&T Offshore, Inc. (NYSE:WTI) CEO Purchases 22,563 Shares of Stock

W&T Offshore, Inc. (NYSE:WTI) CEO Tracy W. Krohn acquired 22,563 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $4.17 per share, with a total value of $94,087.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Tracy W. Krohn also recently made the following trade(s):

  • On Thursday, August 8th, Tracy W. Krohn acquired 21,500 shares of W&T Offshore stock. The stock was bought at an average cost of $4.47 per share, with a total value of $96,105.00.
  • On Friday, July 12th, Tracy W. Krohn acquired 100,000 shares of W&T Offshore stock. The stock was bought at an average cost of $4.60 per share, with a total value of $460,000.00.
  • On Wednesday, July 10th, Tracy W. Krohn acquired 15,000 shares of W&T Offshore stock. The stock was bought at an average cost of $4.65 per share, with a total value of $69,750.00.

Shares of WTI stock traded down $0.16 on Thursday, reaching $4.17. 2,043,006 shares of the company’s stock were exchanged, compared to its average volume of 2,505,854. W&T Offshore, Inc. has a 52 week low of $3.62 and a 52 week high of $9.88. The stock has a market capitalization of $655.62 million, a PE ratio of 4.13 and a beta of 2.99. The company’s fifty day simple moving average is $4.57 and its 200 day simple moving average is $5.23.

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 (EPS) for the quarter, topping the Zacks’ consensus estimate 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 firm had revenue of $134.70 million during the quarter, compared to analyst estimates of $126.50 million. During the same period last year, the company earned $0.29 EPS. W&T Offshore’s quarterly revenue was down 10.0% compared to the same quarter last year. Equities analysts predict that W&T Offshore, Inc. will post 0.43 EPS for the current year.

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus set a $10.00 price objective on W&T Offshore and gave the company a “buy” rating in a research note on Monday. ValuEngine lowered W&T Offshore from a “sell” rating to a “strong sell” rating in a research note on Friday, May 3rd. Capital One Financial raised W&T Offshore from an “underweight” rating to an “equal weight” rating in a research note on Thursday, May 23rd. Seaport Global Securities reissued a “buy” rating on shares of W&T Offshore in a research note on Friday, June 21st. Finally, Zacks Investment Research lowered W&T Offshore from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $8.75.

Several hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd raised its position in W&T Offshore by 1,442.4% during the 2nd quarter. Point72 Hong Kong Ltd now owns 9,825 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 9,188 shares in the last quarter. Stone Ridge Asset Management LLC bought a new stake in W&T Offshore during the 2nd quarter valued at $60,000. Meritage Portfolio Management raised its position in W&T Offshore by 35.2% during the 2nd quarter. Meritage Portfolio Management now owns 13,980 shares of the oil and gas company’s stock valued at $69,000 after purchasing an additional 3,637 shares in the last quarter. Denali Advisors LLC raised its position in W&T Offshore by 4,858.7% during the 2nd quarter. Denali Advisors LLC now owns 14,281 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 13,993 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in W&T Offshore during the 1st quarter valued at $114,000. 59.24% of the stock is owned by hedge funds and other institutional investors.

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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Insider Buying and Selling by Quarter for W&T Offshore (NYSE:WTI)

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