W&T Offshore (WTI) Given “Sell” Rating at KLR Group

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W&T Offshore (NYSE:WTI)‘s stock had its “sell” rating restated by investment analysts at KLR Group in a research report issued on Monday. They presently have a $6.25 price target on the oil and gas company’s stock. KLR Group’s price target would suggest a potential upside of 1.79% from the stock’s previous close.

WTI has been the subject of several other reports. Zacks Investment Research raised shares of W&T Offshore from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a report on Tuesday, July 17th. Seaport Global Securities raised shares of W&T Offshore to a “buy” rating in a report on Thursday, June 14th. Capital One Financial lowered shares of W&T Offshore from an “equal weight” rating to an “underweight” rating in a report on Thursday, May 31st. Finally, Roth Capital assumed coverage on shares of W&T Offshore in a report on Wednesday, May 23rd. They issued a “neutral” rating and a $8.75 target price for the company. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $8.00.

W&T Offshore stock traded up $0.20 during midday trading on Monday, hitting $6.14. The stock had a trading volume of 86,228 shares, compared to its average volume of 3,304,959. The firm has a market capitalization of $911.46 million, a price-to-earnings ratio of 10.96 and a beta of 2.65. W&T Offshore has a 52-week low of $1.83 and a 52-week high of $9.12. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of -1.50.

W&T Offshore (NYSE:WTI) last released its earnings results on Wednesday, August 1st. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The company had revenue of $149.60 million during the quarter, compared to analyst estimates of $150.66 million. W&T Offshore had a net margin of 16.40% and a negative return on equity of 18.00%. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. analysts predict that W&T Offshore will post 0.81 EPS for the current year.

In related news, Director Virginia Boulet acquired 5,950 shares of the business’s stock in a transaction on Friday, June 1st. The stock was acquired at an average cost of $6.83 per share, with a total value of $40,638.50. Following the acquisition, the director now directly owns 195,783 shares in the company, valued at approximately $1,337,197.89. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 33.76% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in W&T Offshore by 55.0% during the 1st quarter. JPMorgan Chase & Co. now owns 7,248,683 shares of the oil and gas company’s stock valued at $32,112,000 after buying an additional 2,571,558 shares in the last quarter. BlackRock Inc. boosted its position in shares of W&T Offshore by 7.9% during the 2nd quarter. BlackRock Inc. now owns 6,750,212 shares of the oil and gas company’s stock valued at $48,263,000 after acquiring an additional 494,001 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of W&T Offshore by 191.7% during the 2nd quarter. Renaissance Technologies LLC now owns 4,917,100 shares of the oil and gas company’s stock valued at $35,157,000 after acquiring an additional 3,231,300 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of W&T Offshore by 14.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,156,016 shares of the oil and gas company’s stock valued at $29,716,000 after acquiring an additional 527,248 shares during the last quarter. Finally, LSV Asset Management boosted its position in shares of W&T Offshore by 750.9% during the 2nd quarter. LSV Asset Management now owns 3,634,000 shares of the oil and gas company’s stock valued at $25,983,000 after acquiring an additional 3,206,900 shares during the last quarter. 51.05% of the stock is owned by institutional investors and hedge funds.

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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