W&T Offshore (NYSE:WTI) Price Target Raised to $7.80

W&T Offshore (NYSE:WTI) had its target price increased by analysts at Stifel Nicolaus from $7.50 to $7.80 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 220.99% from the stock’s previous close.

W&T Offshore Trading Up 2.5 %

WTI traded up $0.06 during midday trading on Tuesday, reaching $2.43. 997,381 shares of the company’s stock traded hands, compared to its average volume of 2,793,933. W&T Offshore has a 52 week low of $2.32 and a 52 week high of $4.60. The stock has a market capitalization of $356.87 million, a price-to-earnings ratio of 24.20 and a beta of 1.52. The firm has a fifty day moving average of $2.71 and a two-hundred day moving average of $3.18. The company has a debt-to-equity ratio of 11.58, a current ratio of 1.22 and a quick ratio of 1.22.

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

Institutional Investors Weigh In On W&T Offshore

Institutional investors and hedge funds have recently made changes to their positions in the business. HighTower Advisors LLC increased its position in shares of W&T Offshore by 140.7% in 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 purchasing an additional 1,162,340 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in shares of W&T Offshore during the third quarter valued at approximately $3,870,000. Russell Investments Group Ltd. raised its holdings in shares of W&T Offshore by 232.2% during the fourth quarter. Russell Investments Group Ltd. now owns 850,255 shares of the oil and gas company’s stock valued at $2,772,000 after acquiring an additional 594,333 shares during the period. Jump Financial LLC acquired a new position in W&T Offshore in the 4th quarter valued at approximately $758,000. Finally, BNP Paribas Financial Markets increased its stake in W&T Offshore by 81.2% in the 4th quarter. BNP Paribas Financial Markets now owns 262,124 shares of the oil and gas company’s stock valued at $855,000 after buying an additional 117,462 shares during the period. 42.88% of the stock is owned by hedge funds and other institutional investors.

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