Stifel Nicolaus Raises W&T Offshore (NYSE:WTI) Price Target to $7.80

W&T Offshore (NYSE:WTI) had its target price lifted by analysts at Stifel Nicolaus from $7.50 to $7.80 in a report released on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 228.42% from the company’s previous close.

W&T Offshore Trading Down 1.0 %

Shares of W&T Offshore stock opened at $2.38 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 11.58. The company has a fifty day simple moving average of $2.70 and a 200-day simple moving average of $3.16. The stock has a market cap of $348.79 million, a price-to-earnings ratio of 23.75 and a beta of 1.52. W&T Offshore has a 12-month low of $2.32 and a 12-month high of $4.54.

W&T Offshore (NYSE:WTI) last posted its earnings results on Tuesday, March 5th. The oil and gas company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The firm had revenue of $132.30 million for the quarter, compared to analyst estimates of $138.23 million. W&T Offshore had a negative return on equity of 71.70% and a net margin of 2.93%. The firm’s revenue for the quarter was down 30.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 EPS. On average, equities analysts forecast that W&T Offshore will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On W&T Offshore

Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its position in W&T Offshore by 140.7% during the 3rd quarter. HighTower Advisors LLC now owns 1,988,620 shares of the oil and gas company’s stock worth $8,691,000 after buying an additional 1,162,340 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in W&T Offshore by 5.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,260,815 shares of the oil and gas company’s stock worth $5,522,000 after purchasing an additional 65,286 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new stake in W&T Offshore in the third quarter valued at about $3,870,000. Russell Investments Group Ltd. boosted its holdings in W&T Offshore by 232.2% in the 4th quarter. Russell Investments Group Ltd. now owns 850,255 shares of the oil and gas company’s stock valued at $2,772,000 after purchasing an additional 594,333 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in W&T Offshore by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 710,301 shares of the oil and gas company’s stock worth $3,111,000 after purchasing an additional 15,987 shares during the period. Institutional investors and hedge funds own 42.88% of the company’s stock.

W&T Offshore Company Profile

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 and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.