Roth Capital Maintains a Buy Rating on W&T Offshore (WTI)

By Carrie Williams

Roth Capital analyst Roth Capital maintained a Buy rating on W&T Offshore (WTIResearch Report) yesterday and set a price target of $5.50. The company’s shares closed last Monday at $4.09.

Currently, the analyst consensus on W&T Offshore is a Moderate Buy with an average price target of $5.50.

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Based on W&T Offshore’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $126 million and GAAP net loss of $746K. In comparison, last year the company earned revenue of $124 million and had a net profit of $65.98 million.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of WTI in relation to earlier this year.

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W&T Offshore, Inc. engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.