An issue of W&T Offshore, Inc. (NYSE:WTI) bonds fell 1.3% against their face value during trading on Friday. The high-yield debt issue has a 8.5% coupon and will mature on June 15, 2019. The bonds in the issue are now trading at $87.75. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of W&T Offshore from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. ValuEngine lowered W&T Offshore from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Barclays PLC reaffirmed a “sell” rating and set a $1.50 target price on shares of W&T Offshore in a report on Friday, July 7th. Finally, BidaskClub lowered W&T Offshore from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $2.50.

W&T Offshore, Inc. (NYSE:WTI) opened at 3.05 on Friday. The firm has a market capitalization of $419.60 million, a price-to-earnings ratio of 3.27 and a beta of 2.41. The company’s 50-day moving average price is $1.99 and its 200-day moving average price is $2.19. W&T Offshore, Inc. has a 12-month low of $1.31 and a 12-month high of $3.56.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.21. W&T Offshore had a negative return on equity of 6.08% and a net margin of 25.52%. The business had revenue of $123.32 million for the quarter, compared to analyst estimates of $121.30 million. During the same quarter in the prior year, the firm posted ($0.47) earnings per share. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. Equities analysts expect that W&T Offshore, Inc. will post $0.53 EPS for the current fiscal year.

In other news, Director Stuart B. Katz purchased 50,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average price of $1.85 per share, with a total value of $92,500.00. Following the completion of the purchase, the director now directly owns 205,113 shares of the company’s stock, valued at approximately $379,459.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tracy W. Krohn purchased 918,763 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were purchased at an average cost of $2.08 per share, for a total transaction of $1,911,027.04. Following the purchase, the chief executive officer now directly owns 44,532,480 shares of the company’s stock, valued at $92,627,558.40. The disclosure for this purchase can be found here. Insiders have bought 1,388,841 shares of company stock worth $2,804,309 in the last ninety days. 32.58% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of WTI. Nationwide Fund Advisors lifted its stake in shares of W&T Offshore by 165.5% during the first quarter. Nationwide Fund Advisors now owns 59,735 shares of the oil and gas company’s stock valued at $165,000 after acquiring an additional 37,238 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of W&T Offshore by 5.6% during the first quarter. Bank of New York Mellon Corp now owns 151,848 shares of the oil and gas company’s stock valued at $420,000 after acquiring an additional 8,072 shares during the period. Airain ltd acquired a new position in shares of W&T Offshore during the first quarter valued at $245,000. Prudential Financial Inc. acquired a new position in shares of W&T Offshore during the first quarter valued at $124,000. Finally, Spark Investment Management LLC acquired a new position in shares of W&T Offshore during the first quarter valued at $381,000. 49.12% of the stock is currently owned by institutional investors and hedge funds.

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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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