W&T Offshore, Inc. (NYSE:WTI) shares were down 5.9% during trading on Monday . The stock traded as low as $2.87 and last traded at $3.23. Approximately 3,307,361 shares traded hands during trading, an increase of 65% from the average daily volume of 2,001,180 shares. The stock had previously closed at $3.05.

Several equities research analysts have weighed in on WTI shares. Zacks Investment Research upgraded W&T Offshore from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. ValuEngine downgraded W&T Offshore from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Barclays PLC restated a “sell” rating and set a $1.50 price target on shares of W&T Offshore in a research note on Friday, July 7th. Finally, BidaskClub lowered W&T Offshore from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $2.50.

The firm has a market capitalization of $448.49 million, a PE ratio of 3.50 and a beta of 2.49. The firm has a 50 day moving average of $2.31 and a 200 day moving average of $2.21.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $123.32 million for the quarter, compared to the consensus estimate of $121.30 million. During the same quarter in the previous year, the business earned ($0.47) EPS. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. Equities analysts expect that W&T Offshore, Inc. will post $0.53 earnings per share for the current fiscal year.

In other W&T Offshore news, Director Virginia Boulet acquired 16,500 shares of the stock in a transaction dated Thursday, September 14th. The stock was acquired at an average price of $2.46 per share, with a total value of $40,590.00. Following the completion of the purchase, the director now owns 178,047 shares in the company, valued at approximately $437,995.62. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tracy W. Krohn acquired 132,134 shares of the stock in a transaction dated Wednesday, August 23rd. The stock was acquired at an average cost of $1.85 per share, with a total value of $244,447.90. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 1,388,841 shares of company stock valued at $2,804,309. 32.58% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. purchased a new stake in W&T Offshore during the 1st quarter worth approximately $124,000. Morgan Stanley lifted its holdings in W&T Offshore by 247.6% during the 1st quarter. Morgan Stanley now owns 503,827 shares of the oil and gas company’s stock worth $1,396,000 after buying an additional 358,874 shares in the last quarter. Columbia Pacific Advisors LLC lifted its holdings in W&T Offshore by 43.9% during the 1st quarter. Columbia Pacific Advisors LLC now owns 466,239 shares of the oil and gas company’s stock worth $1,291,000 after buying an additional 142,139 shares in the last quarter. Menta Capital LLC acquired a new stake in W&T Offshore during the 1st quarter worth approximately $960,000. Finally, Vanguard Group Inc. lifted its holdings in W&T Offshore by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 2,308,510 shares of the oil and gas company’s stock worth $6,394,000 after buying an additional 128,417 shares in the last quarter. Hedge funds and other institutional investors own 49.12% of the company’s stock.

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W&T Offshore Company Profile

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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