W&T Offshore Sees Unusually High Options Volume (WTI)

W&T Offshore, Inc. (NYSE:WTI) was the recipient of some unusual options trading activity on Monday. Stock investors acquired 2,983 call options on the company. This is an increase of 1,113% compared to the typical daily volume of 246 call options.

In related news, insider David M. Bump sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $5.40, for a total value of $54,000.00. Following the transaction, the insider now directly owns 54,719 shares of the company’s stock, valued at approximately $295,482.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Shahid Ghauri acquired 7,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was acquired at an average price of $6.01 per share, with a total value of $42,070.00. Following the acquisition, the insider now owns 8,000 shares in the company, valued at approximately $48,080. The disclosure for this purchase can be found here. Company insiders own 33.76% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its holdings in W&T Offshore by 2.5% in the 4th 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 valued at $368,000 after acquiring an additional 2,200 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of W&T Offshore by 22.9% during the 4th quarter. Legal & General Group Plc now owns 17,914 shares of the oil and gas company’s stock worth $74,000 after buying an additional 3,335 shares during the last quarter. Cigna Investments Inc. New increased its holdings in shares of W&T Offshore by 38.5% during the 4th quarter. Cigna Investments Inc. New now owns 15,322 shares of the oil and gas company’s stock worth $63,000 after buying an additional 4,256 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of W&T Offshore by 0.5% during the 4th quarter. American Century Companies Inc. now owns 1,090,851 shares of the oil and gas company’s stock worth $4,494,000 after buying an additional 4,909 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in shares of W&T Offshore by 33.9% during the 4th quarter. LPL Financial LLC now owns 19,476 shares of the oil and gas company’s stock worth $80,000 after buying an additional 4,930 shares during the last quarter. Institutional investors own 63.70% of the company’s stock.

WTI stock opened at $6.49 on Tuesday. The stock has a market capitalization of $853.71 million, a price-to-earnings ratio of 6.43 and a beta of 2.88. W&T Offshore has a 12 month low of $3.62 and a 12 month high of $9.88.

A number of analysts have commented on WTI shares. Stifel Nicolaus started coverage on shares of W&T Offshore in a report on Thursday, March 7th. They issued a “buy” rating and a $10.00 price objective for the company. ValuEngine upgraded shares of W&T Offshore from a “sell” rating to a “hold” rating in a report on Thursday, February 14th. Finally, Zacks Investment Research upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a report on Tuesday, November 20th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $8.25.

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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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