W&T Offshore (NYSE:WTI) Stock Price Up 7.5%

W&T Offshore, Inc. (NYSE:WTI) shares rose 7.5% during mid-day trading on Wednesday . The company traded as high as $4.45 and last traded at $4.42, approximately 3,253,900 shares were traded during mid-day trading. An increase of 27% from the average daily volume of 2,552,571 shares. The stock had previously closed at $4.11.

WTI has been the topic of a number of recent research reports. Stifel Nicolaus set a $10.00 target price on W&T Offshore and gave the stock a “buy” rating in a report on Monday, August 12th. Roth Capital set a $11.00 price objective on W&T Offshore and gave the company a “buy” rating in a research note on Friday, August 16th. ValuEngine upgraded W&T Offshore from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Zacks Investment Research upgraded W&T Offshore from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $8.75.

The firm has a 50 day simple moving average of $4.25 and a two-hundred day simple moving average of $4.44. The firm has a market capitalization of $590.90 million, a P/E ratio of 4.38 and a beta of 2.97.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Wednesday, October 30th. The oil and gas company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.08. W&T Offshore had a negative return on equity of 29.02% and a net margin of 38.63%. The business had revenue of $132.20 million for the quarter, compared to analysts’ expectations of $133.52 million. During the same period last year, the business earned $0.30 EPS. The business’s revenue was down 13.9% on a year-over-year basis. Research analysts expect that W&T Offshore, Inc. will post 0.42 EPS for the current year.

Large investors have recently modified their holdings of the business. Rhumbline Advisers lifted its stake in W&T Offshore by 9.4% during the 3rd quarter. Rhumbline Advisers now owns 151,580 shares of the oil and gas company’s stock valued at $662,000 after acquiring an additional 13,061 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of W&T Offshore by 9.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 857,952 shares of the oil and gas company’s stock valued at $4,255,000 after purchasing an additional 70,749 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of W&T Offshore by 9.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,335,635 shares of the oil and gas company’s stock valued at $25,398,000 after purchasing an additional 446,978 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of W&T Offshore by 8.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 40,274 shares of the oil and gas company’s stock valued at $176,000 after purchasing an additional 3,298 shares during the last quarter. Finally, Aperio Group LLC increased its position in shares of W&T Offshore by 79.0% during the 2nd quarter. Aperio Group LLC now owns 24,978 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 11,027 shares during the last quarter. Institutional investors and hedge funds own 59.32% of the company’s stock.

About W&T Offshore (NYSE:WTI)

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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