Equities research analysts at Stifel Nicolaus assumed coverage on shares of W&T Offshore (NYSE:WTI) in a research report issued on Thursday, The Fly reports. The firm set a “buy” rating on the oil and gas company’s stock.
Several other research analysts have also commented on the company. ValuEngine lowered W&T Offshore from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Three analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $7.67.
Get W&T Offshore alerts:Shares of W&T Offshore stock traded down $0.06 during trading on Thursday, reaching $4.93. 73,874 shares of the stock traded hands, compared to its average volume of 2,378,393. The firm has a market cap of $752.80 million, a price-to-earnings ratio of 4.88 and a beta of 2.86. W&T Offshore has a 52-week low of $3.54 and a 52-week high of $9.88.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning bought a new stake in shares of W&T Offshore during the fourth quarter valued at approximately $43,000. Cigna Investments Inc. New raised its stake in shares of W&T Offshore by 38.5% during the fourth quarter. Cigna Investments Inc. New now owns 15,322 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 4,256 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of W&T Offshore during the fourth quarter valued at approximately $70,000. Legal & General Group Plc raised its stake in shares of W&T Offshore by 22.9% during the fourth quarter. Legal & General Group Plc now owns 17,914 shares of the oil and gas company’s stock valued at $74,000 after acquiring an additional 3,335 shares in the last quarter. Finally, Cipher Capital LP purchased a new position in W&T Offshore during the fourth quarter valued at approximately $76,000. 66.00% of the stock is owned by institutional investors and hedge funds.
About W&T Offshore
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.
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