W&T Offshore, Inc. (NYSE:WTI)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $4.52, but opened at $4.60. W&T Offshore shares last traded at $4.79, with a volume of 52,722 shares changing hands.

A number of analysts have recently weighed in on the company. Seaport Global Securities reiterated a “buy” rating on shares of W&T Offshore in a research report on Friday, June 21st. Capital One Financial raised W&T Offshore from an “underweight” rating to an “equal weight” rating in a report on Thursday, May 23rd. ValuEngine raised W&T Offshore from a “strong sell” rating to a “sell” rating in a report on Tuesday. Roth Capital set a $11.00 price target on W&T Offshore and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus set a $10.00 price target on W&T Offshore and gave the stock a “buy” rating in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. W&T Offshore currently has an average rating of “Hold” and an average target price of $9.67.

The company has a market cap of $713.30 million, a price-to-earnings ratio of 4.59 and a beta of 2.96. The business has a fifty day moving average price of $4.41 and a 200 day moving average price of $5.15.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Wednesday, July 31st. The oil and gas company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.16. W&T Offshore had a negative return on equity of 31.98% and a net margin of 31.72%. The company had revenue of $134.70 million during the quarter, compared to analysts’ expectations of $126.50 million. During the same quarter in the previous year, the firm earned $0.29 EPS. W&T Offshore’s revenue was down 10.0% on a year-over-year basis. Equities research analysts forecast that W&T Offshore, Inc. will post 0.56 EPS for the current fiscal year.

In other W&T Offshore news, insider David M. Bump sold 13,500 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $4.31, for a total value of $58,185.00. Following the completion of the transaction, the insider now owns 41,219 shares of the company’s stock, valued at approximately $177,653.89. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider William J. Williford bought 10,000 shares of the stock in a transaction on Monday, August 26th. The stock was purchased at an average cost of $4.12 per share, with a total value of $41,200.00. Following the acquisition, the insider now owns 61,245 shares in the company, valued at $252,329.40. The disclosure for this purchase can be found here. Insiders have bought a total of 276,913 shares of company stock valued at $1,200,049 in the last three months. 33.60% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd increased its holdings in W&T Offshore by 1,442.4% in the 2nd quarter. Point72 Hong Kong Ltd now owns 9,825 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 9,188 shares in the last quarter. Stone Ridge Asset Management LLC acquired a new position in W&T Offshore in the 2nd quarter worth about $60,000. Meritage Portfolio Management increased its holdings in W&T Offshore by 35.2% in the 2nd quarter. Meritage Portfolio Management now owns 13,980 shares of the oil and gas company’s stock worth $69,000 after purchasing an additional 3,637 shares in the last quarter. Denali Advisors LLC increased its holdings in W&T Offshore by 4,858.7% in the 2nd quarter. Denali Advisors LLC now owns 14,281 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 13,993 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in W&T Offshore by 17.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 21,787 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 3,215 shares in the last quarter. 58.89% of the stock is owned by institutional investors and hedge funds.

W&T Offshore Company Profile (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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