W&T Offshore (NYSE:WTI) Rating Increased to Hold at ValuEngine

ValuEngine upgraded shares of W&T Offshore (NYSE:WTI) from a sell rating to a hold rating in a research report sent to investors on Monday, ValuEngine reports.

Other equities analysts have also issued research reports about the company. Capital One Financial raised W&T Offshore from an underweight rating to an equal weight rating in a report on Thursday, May 23rd. Roth Capital set a $11.00 price objective on shares of W&T Offshore and gave the company a buy rating in a research note on Friday, August 16th. Seaport Global Securities restated a buy rating on shares of W&T Offshore in a research note on Friday, June 21st. Finally, Stifel Nicolaus set a $10.00 price objective on shares of W&T Offshore and gave the company a buy rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Buy and an average target price of $9.67.

NYSE:WTI opened at $4.79 on Monday. The firm has a market capitalization of $711.89 million, a PE ratio of 4.74 and a beta of 2.96. The business’s fifty day moving average price is $4.50 and its 200 day moving average price is $5.14. W&T Offshore has a 12 month low of $3.62 and a 12 month high of $9.88.

W&T Offshore (NYSE:WTI) last posted its earnings results on Wednesday, July 31st. The oil and gas company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.09 by $0.16. The firm had revenue of $134.70 million for the quarter, compared to analyst estimates of $126.50 million. W&T Offshore had a negative return on equity of 31.98% and a net margin of 31.72%. W&T Offshore’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.29 earnings per share. On average, equities research analysts anticipate that W&T Offshore will post 0.4 EPS for the current fiscal year.

In other W&T Offshore news, insider David M. Bump sold 13,500 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $4.31, for a total value of $58,185.00. Following the completion of the transaction, the insider now owns 41,219 shares in the company, valued at $177,653.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tracy W. Krohn acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, July 10th. The stock was bought at an average price of $4.65 per share, with a total value of $69,750.00. The disclosure for this purchase can be found here. Insiders acquired 276,913 shares of company stock valued at $1,200,049 in the last 90 days. 33.60% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WTI. Mackenzie Financial Corp lifted its position in W&T Offshore by 117.8% in the second quarter. Mackenzie Financial Corp now owns 42,900 shares of the oil and gas company’s stock valued at $213,000 after purchasing an additional 23,200 shares during the period. Magnetar Financial LLC lifted its position in W&T Offshore by 47.4% in the second quarter. Magnetar Financial LLC now owns 101,721 shares of the oil and gas company’s stock valued at $505,000 after purchasing an additional 32,700 shares during the period. Royal Bank of Canada lifted its position in W&T Offshore by 587.9% in the second quarter. Royal Bank of Canada now owns 528,756 shares of the oil and gas company’s stock valued at $2,623,000 after purchasing an additional 451,886 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in W&T Offshore by 27.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 43,241 shares of the oil and gas company’s stock valued at $214,000 after purchasing an additional 9,203 shares during the period. Finally, Nuveen Asset Management LLC acquired a new stake in W&T Offshore in the second quarter valued at about $3,297,000. Institutional investors own 58.88% of the company’s stock.

W&T Offshore Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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