Shares of W&T Offshore, Inc. (NYSE:WTI) traded down 5.9% during mid-day trading on Monday . The stock traded as low as $4.77 and last traded at $4.82. 2,711,526 shares changed hands during trading, an increase of 3% from the average session volume of 2,627,292 shares. The stock had previously closed at $5.12.

Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 30th. ValuEngine downgraded shares of W&T Offshore from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Finally, Stifel Nicolaus assumed coverage on shares of W&T Offshore in a report on Thursday, March 7th. They issued a “buy” rating and a $10.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. W&T Offshore has a consensus rating of “Hold” and an average target price of $8.75.

The firm has a market cap of $677.90 million, a P/E ratio of 4.84 and a beta of 2.85.

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

In related news, insider Shahid Ghauri acquired 7,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $6.01 per share, for a total transaction of $42,070.00. Following the completion of the acquisition, the insider now directly owns 8,000 shares in the company, valued at $48,080. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider David M. Bump sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $5.40, for a total transaction of $54,000.00. Following the completion of the transaction, the insider now owns 54,719 shares in the company, valued at $295,482.60. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 27,000 shares of company stock worth $158,170. Corporate insiders own 33.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning acquired a new position in shares of W&T Offshore in the fourth quarter valued at about $43,000. LPL Financial LLC acquired a new position in shares of W&T Offshore in the third quarter valued at about $140,000. Cigna Investments Inc. New grew its stake in shares of 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 valued at $63,000 after acquiring an additional 4,256 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of W&T Offshore in the first quarter valued at about $114,000. Finally, Nisa Investment Advisors LLC acquired a new position in shares of W&T Offshore in the fourth quarter valued at about $70,000. Institutional investors and hedge funds 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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