Stuart B. Katz Buys 25,000 Shares of W&T Offshore Inc. (WTI) Stock
W&T Offshore Inc. (NYSE:WTI) Director Stuart B. Katz bought 25,000 shares of W&T Offshore stock in a transaction dated Tuesday, November 29th. The shares were purchased at an average cost of $1.57 per share, for a total transaction of $39,250.00. Following the completion of the transaction, the director now owns 118,270 shares of the company’s stock, valued at approximately $185,683.90. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
W&T Offshore Inc. (NYSE:WTI) traded up 10.46% during mid-day trading on Wednesday, reaching $1.69. 2,077,982 shares of the company traded hands. The company’s market capitalization is $231.40 million. W&T Offshore Inc. has a 52-week low of $1.23 and a 52-week high of $3.74. The stock has a 50 day moving average price of $1.52 and a 200-day moving average price of $1.85.
W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.19. The company earned $107.40 million during the quarter, compared to analysts’ expectations of $109.57 million. W&T Offshore’s revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period last year, the company earned ($0.79) earnings per share. Analysts expect that W&T Offshore Inc. will post ($1.80) EPS for the current fiscal year.
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Separately, Barclays PLC cut shares of W&T Offshore from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $2.00 to $1.00 in a report on Monday, October 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $2.19.
Several hedge funds have recently bought and sold shares of WTI. Phoenix Investment Adviser LLC bought a new stake in W&T Offshore during the third quarter worth about $2,386,000. Icon Advisers Inc. Co. bought a new stake in W&T Offshore during the second quarter worth about $1,910,000. AQR Capital Management LLC raised its position in shares of W&T Offshore by 740.8% in the second quarter. AQR Capital Management LLC now owns 478,807 shares of the company’s stock valued at $1,110,000 after buying an additional 421,858 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of W&T Offshore by 4,976.8% in the third quarter. Panagora Asset Management Inc. now owns 278,816 shares of the company’s stock valued at $490,000 after buying an additional 273,324 shares during the last quarter. Finally, Mariner Investment Group LLC acquired a new position in shares of W&T Offshore during the third quarter valued at $352,000. 52.06% of the stock is owned by institutional investors and hedge funds.
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. The Company owns a platform in the Gulf of Mexico located in a National Marine Sanctuary. The Company’s fields are located in federal and state waters in the Gulf of Mexico.
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