W&T Offshore (NYSE:WTI) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of W&T Offshore (NYSE:WTI) from a sell rating to a hold rating in a research note published on Monday, February 4th.

Other analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of W&T Offshore from a hold rating to a buy rating and set a $6.75 price target on the stock in a report on Tuesday, November 20th. Roth Capital raised shares of W&T Offshore from a neutral rating to a buy rating and upped their price objective for the company from $8.50 to $10.75 in a research note on Monday, October 15th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. W&T Offshore currently has an average rating of Hold and an average price target of $7.67.

WTI stock traded up $0.31 during trading on Monday, reaching $5.52. 4,112,387 shares of the company were exchanged, compared to its average volume of 1,976,524. W&T Offshore has a 52-week low of $3.51 and a 52-week high of $9.88. The company has a market cap of $719.43 million, a P/E ratio of 5.47 and a beta of 2.86.

A number of hedge funds have recently modified their holdings of the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in shares of W&T Offshore by 2.5% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 89,400 shares of the oil and gas company’s stock worth $368,000 after acquiring an additional 2,200 shares in the last quarter. Legal & General Group Plc increased its position in shares of W&T Offshore by 22.9% in the fourth quarter. Legal & General Group Plc now owns 17,914 shares of the oil and gas company’s stock worth $74,000 after acquiring an additional 3,335 shares in the last quarter. Cigna Investments Inc. New increased its position in shares of W&T Offshore by 38.5% in the fourth quarter. Cigna Investments Inc. New now owns 15,322 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 4,256 shares in the last quarter. LPL Financial LLC increased its position in shares of W&T Offshore by 33.9% in the fourth quarter. LPL Financial LLC now owns 19,476 shares of the oil and gas company’s stock worth $80,000 after acquiring an additional 4,930 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of W&T Offshore by 8.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 84,939 shares of the oil and gas company’s stock worth $350,000 after acquiring an additional 6,613 shares in the last quarter. 66.00% of the stock is owned by hedge funds and other institutional investors.

W&T Offshore Company Profile

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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