W&T Offshore (WTI) Shares Gap Up to $6.75

Shares of W&T Offshore, Inc. (NYSE:WTI) gapped up prior to trading on Tuesday . The stock had previously closed at $6.60, but opened at $6.75. W&T Offshore shares last traded at $6.95, with a volume of 3059314 shares trading hands.

Several analysts recently weighed in on the company. Zacks Investment Research lowered W&T Offshore from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. ValuEngine lowered W&T Offshore from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 29th. Finally, Stifel Nicolaus assumed coverage on W&T Offshore in a report on Thursday, March 7th. They issued a “buy” rating and a $10.00 price objective for the company. Three research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $8.75.

The firm has a market cap of $949.32 million, a P/E ratio of 6.88 and a beta of 2.88.

In related news, insider Shahid Ghauri bought 7,000 shares of the stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of $6.01 per share, with a total value of $42,070.00. Following the completion of the acquisition, the insider now owns 8,000 shares of the company’s stock, valued at $48,080. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director B Frank Stanley bought 10,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were bought at an average cost of $6.51 per share, with a total value of $65,100.00. Following the completion of the acquisition, the director now directly owns 172,063 shares of the company’s stock, valued at approximately $1,120,130.13. The disclosure for this purchase can be found here. 33.76% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of WTI. Renaissance Technologies LLC grew its holdings in shares of W&T Offshore by 43.5% during the third quarter. Renaissance Technologies LLC now owns 7,055,000 shares of the oil and gas company’s stock valued at $68,010,000 after purchasing an additional 2,137,900 shares during the last quarter. Deutsche Bank AG grew its holdings in W&T Offshore by 497.5% in the 3rd quarter. Deutsche Bank AG now owns 1,268,742 shares of the oil and gas company’s stock worth $12,227,000 after buying an additional 1,056,410 shares in the last quarter. Vanguard Group Inc grew its holdings in W&T Offshore by 14.8% in the 3rd quarter. Vanguard Group Inc now owns 8,180,823 shares of the oil and gas company’s stock worth $78,864,000 after buying an additional 1,053,062 shares in the last quarter. Vanguard Group Inc. grew its holdings in W&T Offshore by 14.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,180,823 shares of the oil and gas company’s stock worth $78,864,000 after buying an additional 1,053,062 shares in the last quarter. Finally, Man Group plc grew its holdings in W&T Offshore by 8,680.8% in the 3rd quarter. Man Group plc now owns 935,855 shares of the oil and gas company’s stock worth $9,022,000 after buying an additional 925,197 shares in the last quarter. 63.89% of the stock is owned by institutional investors.

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W&T Offshore Company Profile (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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