Shahid Ghauri Buys 7,000 Shares of W&T Offshore, Inc. (WTI) Stock

W&T Offshore, Inc. (NYSE:WTI) insider Shahid Ghauri bought 7,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $6.01 per share, with a total value of $42,070.00. Following the completion of the transaction, the insider now owns 8,000 shares of the company’s stock, valued at $48,080. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Shahid Ghauri also recently made the following trade(s):

  • On Wednesday, December 19th, Shahid Ghauri bought 1,000 shares of W&T Offshore stock. The shares were acquired at an average cost of $4.65 per share, with a total value of $4,650.00.

WTI stock remained flat at $$6.07 during trading on Friday. 8,943,445 shares of the company’s stock were exchanged, compared to its average volume of 2,604,185. W&T Offshore, Inc. has a twelve month low of $3.62 and a twelve month high of $9.88. The company has a market cap of $853.71 million, a P/E ratio of 6.01 and a beta of 2.88.

A number of brokerages have issued reports on WTI. Zacks Investment Research downgraded shares of W&T Offshore from a “buy” rating to a “hold” rating in a research report on Wednesday, December 12th. ValuEngine downgraded shares of W&T Offshore from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 29th. Finally, Stifel Nicolaus began coverage on shares of W&T Offshore in a research report on Thursday, March 7th. They issued a “buy” rating and a $10.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $8.25.

A number of hedge funds have recently modified their holdings of the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position 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 worth $368,000 after purchasing an additional 2,200 shares in the last quarter. Legal & General Group Plc grew its position in W&T Offshore by 22.9% in the 4th quarter. Legal & General Group Plc now owns 17,914 shares of the oil and gas company’s stock worth $74,000 after purchasing an additional 3,335 shares in the last quarter. Cigna Investments Inc. New grew its position in W&T Offshore by 38.5% in the 4th quarter. Cigna Investments Inc. New now owns 15,322 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 4,256 shares in the last quarter. American Century Companies Inc. grew its position in W&T Offshore by 0.5% in 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 purchasing an additional 4,909 shares in the last quarter. Finally, LPL Financial LLC grew its position in W&T Offshore by 33.9% in the 4th quarter. LPL Financial LLC now owns 19,476 shares of the oil and gas company’s stock worth $80,000 after purchasing an additional 4,930 shares in the last quarter. 64.55% of the stock is owned by institutional investors and hedge funds.

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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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