W&T Offshore (NYSE:WTI) Coverage Initiated by Analysts at Roth Capital

Research analysts at Roth Capital began coverage on shares of W&T Offshore (NYSE:WTI) in a note issued to investors on Wednesday, May 23rd, Marketbeat reports. The firm set a “neutral” rating and a $8.75 price target on the oil and gas company’s stock. Roth Capital’s target price would suggest a potential upside of 26.63% from the company’s current price.

A number of other brokerages have also issued reports on WTI. Zacks Investment Research lowered shares of W&T Offshore from a “buy” rating to a “hold” rating in a report on Saturday, May 19th. KLR Group lowered shares of W&T Offshore from a “hold” rating to a “sell” rating and set a $6.00 price target on the stock. in a report on Tuesday, May 15th. Capital One Financial lowered shares of W&T Offshore from an “equal weight” rating to an “underweight” rating in a report on Wednesday, May 16th. Finally, ValuEngine lowered shares of W&T Offshore from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Five equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $5.88.

W&T Offshore traded up $0.47, reaching $6.91, during trading hours on Wednesday, Marketbeat reports. The company’s stock had a trading volume of 4,536,600 shares, compared to its average volume of 2,983,737. The stock has a market cap of $930.52 million, a PE ratio of 12.34 and a beta of 2.72. W&T Offshore has a 1 year low of $1.81 and a 1 year high of $8.92. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of -1.78.

W&T Offshore (NYSE:WTI) last issued its earnings results on Wednesday, May 2nd. The oil and gas company reported $0.19 EPS for the quarter, hitting analysts’ consensus estimates of $0.19. The company had revenue of $134.20 million for the quarter, compared to analysts’ expectations of $137.80 million. W&T Offshore had a net margin of 16.71% and a negative return on equity of 15.43%. The firm’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 EPS. sell-side analysts anticipate that W&T Offshore will post 0.66 EPS for the current year.

In related news, Director Virginia Boulet bought 5,950 shares of the business’s stock in a transaction dated Friday, June 1st. The shares were purchased at an average price of $6.83 per share, with a total value of $40,638.50. Following the purchase, the director now owns 195,783 shares of the company’s stock, valued at approximately $1,337,197.89. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 33.76% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund boosted its stake in shares of W&T Offshore by 23.8% during the 1st quarter. New York State Common Retirement Fund now owns 89,163 shares of the oil and gas company’s stock valued at $395,000 after purchasing an additional 17,163 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of W&T Offshore by 103.1% during the 1st quarter. Cubist Systematic Strategies LLC now owns 45,271 shares of the oil and gas company’s stock valued at $201,000 after purchasing an additional 22,977 shares in the last quarter. Barclays PLC boosted its stake in shares of W&T Offshore by 99.5% during the 1st quarter. Barclays PLC now owns 54,373 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 27,120 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in shares of W&T Offshore by 183.5% during the 1st quarter. MetLife Investment Advisors LLC now owns 50,382 shares of the oil and gas company’s stock valued at $223,000 after purchasing an additional 32,613 shares in the last quarter. Finally, Alambic Investment Management L.P. boosted its stake in W&T Offshore by 2.9% during the fourth quarter. Alambic Investment Management L.P. now owns 1,295,060 shares of the oil and gas company’s stock worth $4,287,000 after acquiring an additional 36,010 shares in the last quarter. 50.99% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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