W&T Offshore, Inc. (NYSE:WTI) shares gapped down prior to trading on Wednesday . The stock had previously closed at $5.26, but opened at $5.10. W&T Offshore shares last traded at $4.89, with a volume of 4451000 shares.

Several research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. ValuEngine downgraded shares of W&T Offshore from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Finally, Stifel Nicolaus assumed coverage on shares of W&T Offshore in a research note on Thursday, March 7th. They issued a “buy” rating and a $10.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $8.75.

The stock has a market cap of $677.90 million, a price-to-earnings ratio of 4.84 and a beta of 2.85.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.06). The company had revenue of $116.08 million for the quarter, compared to the consensus estimate of $120.51 million. W&T Offshore had a net margin of 30.83% and a negative return on equity of 29.98%. The firm’s revenue for the quarter was down 13.5% on a year-over-year basis. During the same quarter last year, the company earned $0.19 EPS. On average, research analysts forecast that W&T Offshore, Inc. will post 0.46 earnings per share for the current year.

In related news, Director B Frank Stanley acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were bought at an average price of $6.51 per share, for a total transaction of $65,100.00. Following the completion of the transaction, the director now directly owns 172,063 shares in the company, valued at $1,120,130.13. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shahid Ghauri acquired 7,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $6.01 per share, for a total transaction of $42,070.00. Following the transaction, the insider now owns 8,000 shares of the company’s stock, valued at $48,080. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 27,000 shares of company stock worth $158,170. 33.60% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Creative Planning bought a new position in W&T Offshore in the fourth quarter worth approximately $43,000. LPL Financial LLC bought a new position in W&T Offshore in the third quarter worth approximately $140,000. Cigna Investments Inc. New raised its position in W&T Offshore by 38.5% in the fourth quarter. Cigna Investments Inc. New now owns 15,322 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 4,256 shares during the period. Cetera Investment Advisers bought a new position in W&T Offshore in the first quarter worth approximately $114,000. Finally, Nisa Investment Advisors LLC bought a new position in W&T Offshore in the fourth quarter worth approximately $70,000. Institutional investors own 64.36% of the company’s stock.

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About W&T Offshore (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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