Published On: Tue, Sep 20th, 2016

W&T Offshore Inc. (WTI) Director Virginia Boulet Purchases 16,700 Shares

W&T Offshore Inc. (NYSE:WTI) Director Virginia Boulet acquired 16,700 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was acquired at an average price of $1.59 per share, with a total value of $26,553.00. Following the purchase, the director now directly owns 116,104 shares in the company, valued at $184,605.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
W&T Offshore Inc. (NYSE:WTI) opened at 1.64 on Tuesday. The firm’s market capitalization is $125.42 million. W&T Offshore Inc. has a 12 month low of $1.23 and a 12 month high of $4.00. The stock has a 50 day moving average of $1.81 and a 200 day moving average of $2.15.
W&T Offshore (NYSE:WTI) last posted its earnings results on Thursday, August 4th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.22. The firm earned $99.70 million during the quarter, compared to the consensus estimate of $102.64 million. During the same quarter in the previous year, the company earned ($0.54) EPS. The business’s revenue was down 33.1% compared to the same quarter last year. On average, equities analysts predict that W&T Offshore Inc. will post ($2.16) earnings per share for the current fiscal year.

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Separately, Zacks Investment Research upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research note on Tuesday, July 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. W&T Offshore currently has a consensus rating of “Hold” and an average target price of $2.35.
Several hedge funds have recently bought and sold shares of WTI. Icon Advisers Inc. Co. purchased a new stake in W&T Offshore during the second quarter valued at about $1,910,000. Spark Investment Management LLC raised its position in W&T Offshore by 112.5% in the first quarter. Spark Investment Management LLC now owns 960,500 shares of the company’s stock valued at $2,103,000 after buying an additional 508,500 shares during the last quarter. AQR Capital Management LLC raised its position in 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. BlackRock Institutional Trust Company N.A. raised its position in W&T Offshore by 17.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,194,714 shares of the company’s stock valued at $2,772,000 after buying an additional 175,681 shares during the last quarter. Finally, Bridgeway Capital Management Inc. raised its position in W&T Offshore by 26.6% in the second quarter. Bridgeway Capital Management Inc. now owns 753,100 shares of the company’s stock valued at $1,747,000 after buying an additional 158,000 shares during the last quarter. Hedge funds and other institutional investors own 26.04% of the company’s stock.
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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