Analysts Set W&T Offshore, Inc. (WTI) Target Price at $5.42

W&T Offshore, Inc. (NYSE:WTI) has received a consensus rating of “Hold” from the eight brokerages that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $5.42.

Several research firms recently commented on WTI. Seaport Global Securities upgraded W&T Offshore to a “buy” rating in a report on Thursday. Roth Capital began coverage on W&T Offshore in a report on Wednesday, May 23rd. They issued a “neutral” rating and a $8.75 price objective for the company. Zacks Investment Research downgraded W&T Offshore from a “buy” rating to a “hold” rating in a report on Saturday, May 19th. KLR Group downgraded W&T Offshore from a “hold” rating to a “sell” rating and set a $6.00 price objective for the company. in a report on Tuesday, May 15th. Finally, Capital One Financial upgraded W&T Offshore from an “underweight” rating to an “equal weight” rating in a report on Monday, March 12th.

W&T Offshore traded up $0.47, hitting $6.91, during trading hours on Friday, according to Marketbeat. The company’s stock had a trading volume of 4,536,600 shares, compared to its average volume of 2,983,737. W&T Offshore has a 12 month low of $1.81 and a 12 month high of $8.92. The company has a market capitalization of $930.52 million, a price-to-earnings ratio of 12.34 and a beta of 2.72. The company has a debt-to-equity ratio of -1.78, a quick ratio of 1.62 and a current ratio of 1.62.

W&T Offshore (NYSE:WTI) last released its quarterly earnings data on Wednesday, May 2nd. The oil and gas company reported $0.19 EPS for the quarter, hitting the consensus estimate of $0.19. W&T Offshore had a negative return on equity of 15.43% and a net margin of 16.71%. The company had revenue of $134.20 million during the quarter, compared to the consensus estimate of $137.80 million. During the same period last year, the company earned $0.16 EPS. W&T Offshore’s revenue for the quarter was up 7.9% on a year-over-year basis. equities analysts predict that W&T Offshore will post 0.66 earnings per share for the current fiscal year.

In other news, Director Virginia Boulet purchased 5,950 shares of the business’s stock in a transaction on Friday, June 1st. The stock was acquired at an average cost of $6.83 per share, for a total transaction of $40,638.50. Following the purchase, the director now directly owns 195,783 shares in the company, valued at approximately $1,337,197.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 33.76% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in WTI. JPMorgan Chase & Co. grew its stake in shares of W&T Offshore by 55.0% during the 1st quarter. JPMorgan Chase & Co. now owns 7,248,683 shares of the oil and gas company’s stock valued at $32,112,000 after purchasing an additional 2,571,558 shares during the period. TIAA CREF Investment Management LLC grew its stake in shares of W&T Offshore by 314.9% during the 4th quarter. TIAA CREF Investment Management LLC now owns 2,769,368 shares of the oil and gas company’s stock valued at $9,167,000 after purchasing an additional 2,101,835 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of W&T Offshore during the 4th quarter valued at about $4,991,000. Prudential Financial Inc. bought a new stake in shares of W&T Offshore during the 1st quarter valued at about $5,762,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of W&T Offshore by 3,320.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 963,567 shares of the oil and gas company’s stock valued at $3,189,000 after purchasing an additional 935,398 shares during the period. Institutional investors and hedge funds own 50.99% of the company’s stock.

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.

Analyst Recommendations for W&T Offshore (NYSE:WTI)

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