Shares of W&T Offshore, Inc. (NYSE:WTI) have been assigned an average rating of “Hold” from the six brokerages that are covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $2.63.

Separately, Zacks Investment Research downgraded shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Friday, October 6th.

In other news, CEO Tracy W. Krohn bought 918,763 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were bought at an average cost of $2.08 per share, with a total value of $1,911,027.04. Following the purchase, the chief executive officer now directly owns 44,532,480 shares in the company, valued at $92,627,558.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Virginia Boulet bought 16,500 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were purchased at an average cost of $2.46 per share, for a total transaction of $40,590.00. Following the completion of the purchase, the director now owns 178,047 shares in the company, valued at $437,995.62. The disclosure for this purchase can be found here. 32.58% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in shares of W&T Offshore in the third quarter worth $1,406,000. Jane Street Group LLC acquired a new position in shares of W&T Offshore in the third quarter worth $225,000. OxFORD Asset Management LLP increased its stake in shares of W&T Offshore by 74.6% in the third quarter. OxFORD Asset Management LLP now owns 475,479 shares of the oil and gas company’s stock worth $1,512,000 after acquiring an additional 203,140 shares during the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of W&T Offshore in the third quarter worth $1,524,000. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of W&T Offshore by 4.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 2,086,971 shares of the oil and gas company’s stock worth $6,366,000 after acquiring an additional 91,099 shares during the last quarter. 48.08% of the stock is currently owned by institutional investors and hedge funds.

Shares of W&T Offshore (NYSE WTI) traded down $0.01 during trading hours on Friday, reaching $3.05. 1,010,171 shares of the company’s stock traded hands, compared to its average volume of 1,888,476. The company has a debt-to-equity ratio of -1.65, a quick ratio of 1.22 and a current ratio of 1.22. W&T Offshore has a 52 week low of $1.81 and a 52 week high of $3.69. The firm has a market cap of $421.73, a P/E ratio of 6.38 and a beta of 2.50.

W&T Offshore (NYSE:WTI) last announced its earnings results on Wednesday, November 1st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. W&T Offshore had a net margin of 15.38% and a negative return on equity of 10.86%. The company had revenue of $110.30 million for the quarter, compared to the consensus estimate of $119.50 million. During the same period in the previous year, the business earned ($0.24) EPS. The company’s revenue was up 2.7% on a year-over-year basis. analysts expect that W&T Offshore will post 0.51 EPS for the current year.

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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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