W&T Offshore (WTI) Cut to “Sell” at ValuEngine
ValuEngine downgraded shares of W&T Offshore (NYSE:WTI) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.
WTI has been the subject of several other reports. Capital One Financial cut W&T Offshore from an equal weight rating to an underweight rating in a research report on Wednesday, January 10th. Zacks Investment Research cut W&T Offshore from a hold rating to a sell rating in a research report on Wednesday, November 8th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $3.17.
Shares of W&T Offshore (NYSE:WTI) opened at $3.83 on Wednesday. The stock has a market capitalization of $527.86, a P/E ratio of 7.23 and a beta of 2.90. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of -1.65. W&T Offshore has a 12-month low of $1.81 and a 12-month high of $5.34.
In other news, insider John D. Gibbons sold 29,000 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $2.79, for a total value of $80,910.00. Following the completion of the sale, the insider now directly owns 476,030 shares of the company’s stock, valued at $1,328,123.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Stephen L. Schroeder sold 18,762 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $2.81, for a total value of $52,721.22. Following the completion of the sale, the senior vice president now directly owns 366,592 shares of the company’s stock, valued at $1,030,123.52. The disclosure for this sale can be found here. 32.58% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of W&T Offshore in the third quarter valued at approximately $120,000. New York State Common Retirement Fund raised its stake in shares of W&T Offshore by 62.0% in the second quarter. New York State Common Retirement Fund now owns 52,000 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 19,899 shares in the last quarter. Jefferies Group LLC acquired a new position in shares of W&T Offshore in the fourth quarter valued at $191,000. Algert Global LLC acquired a new position in shares of W&T Offshore in the fourth quarter valued at $228,000. Finally, Jane Street Group LLC acquired a new position in shares of W&T Offshore in the third quarter valued at $225,000. 53.97% of the stock is owned by 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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