W&T Offshore (NYSE:WTI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Saturday.

According to Zacks, “W&T Offshore is an independent oil and natural gas company focused primarily in the Gulf of Mexico area, including the deep water. They have grown through acquisition, exploitation and exploration. W&T has grown through acquisition, exploitation and exploration and now holds working interests in over two hundred fields in federal and state waters and a majority of its daily production is derived from wells it operates. “

Separately, Capital One Financial downgraded W&T Offshore from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. W&T Offshore presently has a consensus rating of “Hold” and a consensus target price of $2.50.

Shares of W&T Offshore (NYSE WTI) traded down $0.25 during trading on Friday, reaching $3.56. The company had a trading volume of 4,200,000 shares, compared to its average volume of 2,980,000. W&T Offshore has a 1-year low of $1.81 and a 1-year high of $5.34. The company has a market capitalization of $458.45, a P/E ratio of 6.72 and a beta of 2.84. The company has a debt-to-equity ratio of -1.65, a current ratio of 1.22 and a quick ratio of 1.22.

In other W&T Offshore news, insider John D. Gibbons sold 29,000 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $2.79, for a total value of $80,910.00. Following the completion of the transaction, the insider now owns 476,030 shares in the company, valued at approximately $1,328,123.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stephen L. Schroeder sold 18,762 shares of the company’s stock in a transaction on 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 owns 366,592 shares of the company’s stock, valued at approximately $1,030,123.52. The disclosure for this sale can be found here. 32.58% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Virtu KCG Holdings LLC grew its stake in W&T Offshore by 9.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 125,107 shares of the oil and gas company’s stock valued at $245,000 after purchasing an additional 10,278 shares during the period. New York State Common Retirement Fund grew its stake in W&T Offshore by 62.0% in the 2nd quarter. New York State Common Retirement Fund now owns 52,000 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 19,899 shares during the period. Alliancebernstein L.P. grew its stake in W&T Offshore by 58.5% in the 2nd quarter. Alliancebernstein L.P. now owns 91,308 shares of the oil and gas company’s stock valued at $179,000 after purchasing an additional 33,700 shares during the period. Alambic Investment Management L.P. grew its stake in W&T Offshore by 2.9% in the 4th quarter. Alambic Investment Management L.P. now owns 1,295,060 shares of the oil and gas company’s stock valued at $4,287,000 after purchasing an additional 36,010 shares during the period. Finally, SG Americas Securities LLC bought a new position in W&T Offshore in the 3rd quarter valued at $120,000. Hedge funds and other institutional investors own 49.07% of the company’s stock.

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About W&T Offshore

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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