W&T Offshore (WTI) Shares Gap Down to $7.78
W&T Offshore, Inc. (NYSE:WTI)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $8.01, but opened at $7.78. W&T Offshore shares last traded at $7.27, with a volume of 4268569 shares.
WTI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded W&T Offshore from a “hold” rating to a “strong-buy” rating and set a $9.25 price target on the stock in a research note on Thursday, September 27th. Seaport Global Securities restated a “buy” rating on shares of W&T Offshore in a research note on Wednesday, July 25th. Finally, KLR Group restated a “sell” rating and set a $6.25 price target on shares of W&T Offshore in a research note on Monday, August 20th. Three research analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. W&T Offshore currently has an average rating of “Hold” and an average target price of $8.08.
The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 13.18 and a beta of 2.55. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of -1.50.
Hedge funds have recently modified their holdings of the company. Raymond James & Associates purchased a new stake in W&T Offshore in the second quarter valued at approximately $101,000. Teacher Retirement System of Texas acquired a new position in W&T Offshore in the second quarter valued at approximately $141,000. Thompson Davis & CO. Inc. acquired a new position in W&T Offshore in the second quarter valued at approximately $152,000. Campbell & CO Investment Adviser LLC acquired a new position in W&T Offshore in the second quarter valued at approximately $170,000. Finally, Globeflex Capital L P acquired a new position in W&T Offshore in the second quarter valued at approximately $172,000. Institutional investors and hedge funds own 57.59% of the company’s stock.
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.
Read More: How to Invest in Marijuana Stocks
Receive News & Ratings for W&T Offshore Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W&T Offshore and related companies with MarketBeat.com's FREE daily email newsletter.