W&T Offshore (NYSE:WTI) Price Target Raised to $8.30 at Stifel Nicolaus

W&T Offshore (NYSE:WTI) had its price target raised by Stifel Nicolaus from $7.90 to $8.30 in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm currently has a buy rating on the oil and gas company’s stock.

Separately, StockNews.com began coverage on W&T Offshore in a research report on Thursday, August 17th. They issued a hold rating on the stock.

W&T Offshore Stock Performance

WTI stock opened at $3.97 on Friday. The firm has a 50 day simple moving average of $4.04 and a 200 day simple moving average of $4.55. W&T Offshore has a 52 week low of $3.62 and a 52 week high of $9.16. The stock has a market cap of $580.79 million, a P/E ratio of 4.66 and a beta of 1.97. The company has a debt-to-equity ratio of 15.05, a quick ratio of 1.22 and a current ratio of 1.22.

W&T Offshore (NYSE:WTI) last issued its earnings results on Tuesday, August 1st. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). W&T Offshore had a net margin of 17.37% and a return on equity of 1,591.08%. The company had revenue of $126.20 million for the quarter, compared to analyst estimates of $123.60 million. During the same period last year, the business earned $1.32 EPS. The company’s quarterly revenue was down 53.9% on a year-over-year basis. Research analysts anticipate that W&T Offshore will post 0.06 earnings per share for the current fiscal year.

Institutional Trading of W&T Offshore

A number of institutional investors have recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC raised its holdings in shares of W&T Offshore by 49.1% during the 1st quarter. Counterpoint Mutual Funds LLC now owns 39,764 shares of the oil and gas company’s stock valued at $202,000 after purchasing an additional 13,087 shares in the last quarter. Venture Visionary Partners LLC bought a new stake in shares of W&T Offshore during the 4th quarter worth about $338,000. Integrated Wealth Concepts LLC increased its holdings in shares of W&T Offshore by 51.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 28,874 shares of the oil and gas company’s stock valued at $147,000 after acquiring an additional 9,800 shares during the last quarter. Carmel Capital Partners LLC increased its holdings in shares of W&T Offshore by 86.0% during the 1st quarter. Carmel Capital Partners LLC now owns 86,500 shares of the oil and gas company’s stock valued at $439,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of W&T Offshore by 2.6% in the 4th quarter. Swiss National Bank now owns 242,000 shares of the oil and gas company’s stock valued at $1,350,000 after acquiring an additional 6,100 shares in the last quarter. 45.91% of the stock is currently owned by institutional investors and hedge funds.

About W&T Offshore

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.