Stock Traders Buy Large Volume of Call Options on W&T Offshore (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) saw some unusual options trading activity on Friday. Traders bought 30,845 call options on the company. This is an increase of approximately 3,482% compared to the typical volume of 861 call options.

W&T Offshore Trading Up 13.8%

NYSE:WTI opened at $2.39 on Friday. The company has a market capitalization of $355.58 million, a P/E ratio of -2.41 and a beta of 0.35. W&T Offshore has a 12 month low of $1.09 and a 12 month high of $2.59. The firm has a fifty day simple moving average of $1.81 and a 200-day simple moving average of $1.87.

W&T Offshore (NYSE:WTI) last issued its earnings results on Wednesday, November 5th. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The firm had revenue of $127.52 million during the quarter, compared to analysts’ expectations of $125.69 million. Equities analysts forecast that W&T Offshore will post -0.45 EPS for the current year.

Analyst Upgrades and Downgrades

WTI has been the topic of several analyst reports. Zacks Research raised shares of W&T Offshore from a “hold” rating to a “strong-buy” rating in a report on Monday, January 19th. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On W&T Offshore

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fisher Asset Management LLC raised its stake in shares of W&T Offshore by 55.7% during the 2nd quarter. Fisher Asset Management LLC now owns 882,842 shares of the oil and gas company’s stock valued at $1,457,000 after buying an additional 315,901 shares during the last quarter. Simplicity Wealth LLC acquired a new stake in W&T Offshore during the second quarter worth about $101,000. Ethic Inc. raised its position in W&T Offshore by 99.6% during the second quarter. Ethic Inc. now owns 68,342 shares of the oil and gas company’s stock valued at $118,000 after acquiring an additional 34,110 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in W&T Offshore by 18.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 97,443 shares of the oil and gas company’s stock valued at $161,000 after acquiring an additional 14,988 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in W&T Offshore in the second quarter valued at approximately $176,000. Institutional investors and hedge funds own 42.88% of the company’s stock.

About W&T Offshore

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.