Shares of W&T Offshore, Inc. (NYSE:WTI) have received a consensus rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $2.63.

Several equities analysts have weighed in on the stock. Barclays PLC reaffirmed a “sell” rating and set a $1.50 price target on shares of W&T Offshore in a report on Friday, July 7th. ValuEngine downgraded shares of W&T Offshore from a “buy” rating to a “hold” rating in a report on Monday. Zacks Investment Research downgraded shares of W&T Offshore from a “buy” rating to a “sell” rating in a report on Friday, July 14th. Finally, BidaskClub downgraded shares of W&T Offshore from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th.

Shares of W&T Offshore (NYSE:WTI) traded down 1.50% during mid-day trading on Friday, hitting $1.97. 1,427,362 shares of the company were exchanged. The company has a 50 day moving average of $1.99 and a 200 day moving average of $2.40. The company’s market capitalization is $270.90 million. W&T Offshore has a 52 week low of $1.31 and a 52 week high of $3.47.

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 for the quarter, beating the consensus estimate of $0.01 by $0.21. W&T Offshore had a net margin of 25.52% and a negative return on equity of 5.94%. The business 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 firm earned ($0.47) earnings per share. The company’s revenue for the quarter was up 23.7% on a year-over-year basis. Equities analysts anticipate that W&T Offshore will post $0.30 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in WTI. Tudor Investment Corp ET AL increased its position in W&T Offshore by 23.3% in the first quarter. Tudor Investment Corp ET AL now owns 39,520 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 7,478 shares during the period. Public Employees Retirement System of Ohio increased its position in W&T Offshore by 4.1% in the first quarter. Public Employees Retirement System of Ohio now owns 42,234 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 1,672 shares during the period. Prudential Financial Inc. bought a new position in W&T Offshore during the first quarter valued at approximately $124,000. Nationwide Fund Advisors increased its position in W&T Offshore by 165.5% in the first quarter. Nationwide Fund Advisors now owns 59,735 shares of the oil and gas company’s stock valued at $165,000 after buying an additional 37,238 shares during the period. Finally, Phoenix Investment Adviser LLC bought a new position in W&T Offshore during the first quarter valued at approximately $166,000. 46.72% of the stock is currently owned by hedge funds and other institutional investors.

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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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