W&T Offshore, Inc. (NYSE:WTI) had its price target lowered by stock analysts at Barclays from $4.00 to $2.00 in a research note issued on Thursday, Analyst Ratings.Net reports. The brokerage currently has an “equal weight” rating on the stock. Barclays’ target price would suggest a potential upside of 2.56% from the stock’s previous close.

In other news, Director S James Nelson purchased 9,000 shares of the business’s stock in a transaction dated Wednesday, November 11th. The stock was bought at an average price of $3.70 per share, for a total transaction of $33,300.00. Following the purchase, the director now owns 73,993 shares of the company’s stock, valued at $273,774.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

W&T Offshore (NYSE:WTI) traded down 12.82% on Thursday, reaching $1.70. The company had a trading volume of 980,855 shares. The stock’s market capitalization is $129.08 million. The stock’s 50-day moving average price is $2.06 and its 200-day moving average price is $3.15. W&T Offshore has a 12-month low of $1.23 and a 12-month high of $7.18.

W&T Offshore (NYSE:WTI) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.82) EPS for the quarter, beating analysts’ consensus estimates of ($0.94) by $0.12. The company earned $126.20 million during the quarter, compared to analysts’ expectations of $129.52 million. During the same period in the previous year, the company posted $0.01 earnings per share. The company’s quarterly revenue was down 46.2% compared to the same quarter last year. On average, equities research analysts anticipate that W&T Offshore will post ($3.36) EPS for the current fiscal year.

Other equities research analysts have also issued reports about the company. Zacks Investment Research raised W&T Offshore from a “hold” rating to a “buy” rating and set a $3.75 price target for the company in a research report on Wednesday, November 11th. Capital One Financial Corp. lowered W&T Offshore from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, January 19th. Seaport Global Securities lowered W&T Offshore from an “accumulate” rating to a “neutral” rating and lowered their price target for the company from $4.25 to $2.00 in a research report on Wednesday, January 13th. BMO Capital Markets decreased their target price on W&T Offshore from $3.00 to $2.00 in a research report on Wednesday, October 7th. Finally, KLR Group decreased their target price on W&T Offshore from $8.00 to $6.00 in a research report on Thursday, October 15th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $3.54.

An institutional investor recently raised its position in W&T Offshore stock. Simplex Trading boosted its stake in W&T Offshore, Inc. (NYSE:WTI) by 225.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 65 shares of the company’s stock after buying an additional 45 shares during the period.

W&T Offshore, Inc. is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties primarily in the Gulf of Mexico and the Permian Basin in West Texas. Its onshore activities are primarily in the Permian Basin in West Texas. The Company owns a platform in the Gulf of Mexico located in a National Marine Sanctuary. The offshore fields are found in water depths ranging from less than 10 feet up to 7,200 feet. Its properties include Spraberry Field (NYSE:WTI), Ship Shoal 349 Field (Mahogany), Fairway Field, The Viosca Knoll 783 field, Mississippi Canyon 243 Field (Matterhorn), Main Pass 108 Field, Mississippi Canyon 782 Field (Dantzler), Viosca Knoll 823 Field (Virgo), East Cameron 321 and Main Pass 283.

12 Month Chart for NYSE:WTI

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