W&T Offshore (NYSE:WTI) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday.
Separately, Zacks Investment Research cut shares of W&T Offshore from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $7.67.
Get W&T Offshore alerts:Shares of W&T Offshore stock traded up $0.11 during trading on Thursday, reaching $5.03. The company’s stock had a trading volume of 2,173,114 shares, compared to its average volume of 2,248,146. The stock has a market capitalization of $684.64 million, a price-to-earnings ratio of 8.98 and a beta of 2.86. W&T Offshore has a fifty-two week low of $3.50 and a fifty-two week high of $9.88.
A number of large investors have recently bought and sold shares of WTI. Raymond James & Associates purchased a new position in W&T Offshore in the 2nd quarter valued at $101,000. Bank of America Corp DE grew its position in W&T Offshore by 941.9% in the 2nd quarter. Bank of America Corp DE now owns 1,111,047 shares of the oil and gas company’s stock valued at $7,944,000 after buying an additional 1,004,406 shares during the last quarter. Bank of New York Mellon Corp grew its position in W&T Offshore by 12.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 895,035 shares of the oil and gas company’s stock valued at $6,400,000 after buying an additional 96,649 shares during the last quarter. Northern Trust Corp grew its position in W&T Offshore by 20.8% in the 2nd quarter. Northern Trust Corp now owns 1,191,900 shares of the oil and gas company’s stock valued at $8,522,000 after buying an additional 204,986 shares during the last quarter. Finally, Bank of Montreal Can grew its position in W&T Offshore by 36.4% in the 3rd quarter. Bank of Montreal Can now owns 535,566 shares of the oil and gas company’s stock valued at $5,163,000 after buying an additional 142,918 shares during the last quarter. Hedge funds and other institutional investors own 65.84% of the company’s stock.
W&T Offshore Company Profile
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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