Sunday, October 25, 2020

ROTH Capital lifts W&T Offshore Inc. [WTI] price estimate. Who else is bullish?

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W&T Offshore Inc. [NYSE: WTI] traded at a high on 10/15/20, posting a 2.35 gain after which it closed the day’ session at $1.74. The company report on October 6, 2020 that W&T Offshore Provides Operational Update and Announces Timing of Third Quarter Earnings Reporting.

W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today provided an operational update and announced the timing of its third quarter 2020 earnings release and conference call.

Operations UpdateProduction across the Gulf of Mexico (“GOM”) has been significantly impacted by an extraordinary six named storms thus far in this hurricane season. All of these storms resulted in varying amounts of production being shut-in depending on the size and path of the storms. Tropical Storm Cristobal impacted W&T’s second quarter 2020 production while Hurricanes Hanna, Marco, Laura, Sally and Beta caused production shut-ins during the third quarter of 2020. Primarily due to the significant impact of these storms, unplanned downtime at Mobile Bay, and previously-announced planned downtime at the Magnolia field, the Company currently estimates its third quarter 2020 volumes will average 32,500 to 33,900 barrels of oil equivalent per day (“Boe/d”), with approximately 35% oil, 12% natural gas liquids, and 53% natural gas.

The results of the trading session contributed to over 2188303 shares changing hands. Over the past one week, the price volatility of W&T Offshore Inc. stands at 4.12% while the volatility over the past one month is 5.87%.

The market cap for WTI stock reached $246.49 million, with 141.60 million shares outstanding and 92.48 million shares in the current float. Compared to the average trading volume of 3.17M shares, WTI reached a trading volume of 2188303 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about W&T Offshore Inc. [WTI]?

ROTH Capital have made an estimate for W&T Offshore Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 17, 2020. While these analysts kept the previous recommendation, Stifel dropped their target price from $8 to $2. The new note on the price target was released on March 09, 2020, representing the official price target for W&T Offshore Inc. stock. Previously, the target price had yet another raise to $10, while Stifel analysts kept a Buy rating on WTI stock.

The Average True Range (ATR) for W&T Offshore Inc. is set at 0.11, with the Price to Sales ratio for WTI stock in the period of the last 12 months amounting to 0.53. Price to Free Cash Flow for WTI in the course of the last twelve months was 1.08 with Quick ratio for the last quarter at 0.90.

How has WTI stock performed recently?

W&T Offshore Inc. [WTI] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.87. With this latest performance, WTI shares dropped by -9.38% in over the last four-week period, additionally sinking by -15.12% over the last 6 months – not to mention a drop of -57.87% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WTI stock in for the last two-week period is set at 40.07, with the RSI for the last a single of trading hit 42.07, and the three-weeks RSI is set at 40.62 for W&T Offshore Inc. [WTI]. The present Moving Average for the last 50 days of trading for this stock 2.0454, while it was recorded at 1.7480 for the last single week of trading, and 2.6632 for the last 200 days.

W&T Offshore Inc. [WTI]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and W&T Offshore Inc. [WTI] shares currently have an operating margin of +22.16 and a Gross Margin at +32.46. W&T Offshore Inc.’s Net Margin is presently recorded at +13.59.

Return on Total Capital for WTI is now 30.16, given the latest momentum, and Return on Invested Capital for the company is 18.57. Additionally, WTI Total Debt to Total Capital is recorded at 152.24, with Total Debt to Total Assets ending up at 69.71.

Reflecting on the efficiency of the workforce at the company, W&T Offshore Inc. [WTI] managed to generate an average of $249,880 per employee. Receivables Turnover for the company is 5.48 with a Total Asset Turnover recorded at a value of 0.57.W&T Offshore Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

Earnings analysis for W&T Offshore Inc. [WTI]

With the latest financial reports released by the company, W&T Offshore Inc. posted 0.53/share EPS, while the average EPS was predicted by analysts to be reported at 0.15/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 253.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WTI.

Insider trade positions for W&T Offshore Inc. [WTI]

There are presently around $90 million, or 39.10% of WTI stock, in the hands of institutional investors. The top three institutional holders of WTI stocks are: BLACKROCK INC. with ownership of 6,899,105, which is approximately -1.728% of the company’s market cap and around 34.00% of the total institutional ownership; VANGUARD GROUP INC, holding 5,672,255 shares of the stock with an approximate value of $9.87 million in WTI stocks shares; and LSV ASSET MANAGEMENT, currently with $6.54 million in WTI stock with ownership of nearly -9.348% of the company’s market capitalization.

Positions in W&T Offshore Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 65 institutional holders increased their position in W&T Offshore Inc. [NYSE:WTI] by around 9,370,225 shares. Additionally, 58 investors decreased positions by around 21,863,081 shares, while 18 investors held positions by with 20,241,017 shares. The mentioned changes placed institutional holdings at 51,474,323 shares, according to the latest SEC report filing. WTI stock had 22 new institutional investments in for a total of 1,175,377 shares, while 25 institutional investors sold positions of 3,671,471 shares during the same period.

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