W&T Offshore, Inc. (NYSE:WTI) SVP Stephen L. Schroeder sold 18,762 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $2.81, for a total value of $52,721.22. Following the completion of the transaction, the senior vice president now directly owns 366,592 shares of the company’s stock, valued at approximately $1,030,123.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of W&T Offshore, Inc. (WTI) traded up $0.09 during midday trading on Friday, reaching $4.88. The company’s stock had a trading volume of 4,140,000 shares, compared to its average volume of 2,470,000. W&T Offshore, Inc. has a 12-month low of $1.81 and a 12-month high of $5.10. The firm has a market capitalization of $672.57, a PE ratio of 9.21 and a beta of 2.49. The company has a debt-to-equity ratio of -1.65, a current ratio of 1.22 and a quick ratio of 1.22.
W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. W&T Offshore had a negative return on equity of 10.86% and a net margin of 15.38%. The firm had revenue of $110.30 million for the quarter, compared to analysts’ expectations of $119.50 million. During the same quarter in the prior year, the firm posted ($0.24) earnings per share. W&T Offshore’s revenue for the quarter was up 2.7% compared to the same quarter last year. research analysts anticipate that W&T Offshore, Inc. will post 0.48 EPS for the current fiscal year.
WTI has been the subject of a number of analyst reports. Zacks Investment Research downgraded W&T Offshore from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Capital One Financial cut W&T Offshore from an “equal weight” rating to an “underweight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. W&T Offshore has an average rating of “Sell” and a consensus target price of $2.50.
Several institutional investors have recently made changes to their positions in the company. Virtu KCG Holdings LLC raised its position in shares of W&T Offshore by 9.0% during the 2nd quarter. Virtu KCG Holdings LLC now owns 125,107 shares of the oil and gas company’s stock worth $245,000 after purchasing an additional 10,278 shares during the period. New York State Common Retirement Fund raised its position in shares of W&T Offshore by 62.0% during the 2nd quarter. New York State Common Retirement Fund now owns 52,000 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 19,899 shares during the period. Zacks Investment Management raised its position in shares of W&T Offshore by 68.8% during the 2nd quarter. Zacks Investment Management now owns 66,916 shares of the oil and gas company’s stock worth $131,000 after purchasing an additional 27,270 shares during the period. Alliancebernstein L.P. raised its position in shares of W&T Offshore by 58.5% during the 2nd quarter. Alliancebernstein L.P. now owns 91,308 shares of the oil and gas company’s stock worth $179,000 after purchasing an additional 33,700 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of W&T Offshore during the 3rd quarter worth approximately $120,000. Institutional investors and hedge funds own 47.98% 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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