W&T Offshore Inc. [NYSE: WTI] traded at a low on 12/21/20, posting a -4.51 loss after which it closed the day’ session at $2.33. The company report on December 9, 2020 that W&T Offshore Provides Operational Update and Increases Production Guidance for the Fourth Quarter of 2020.
W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) provided an operational update regarding fourth quarter 2020 production. The Company said that it has recently restored the vast majority of production that was shut-in due to the series of storms in the Gulf of Mexico and has also restored production at the Magnolia field that was offline due to extended downtime at a third-party operated platform downstream from that field. W&T now expects its fourth quarter production to average between 34,700 and 36,900 barrels of oil equivalent per day (“Boe/d”) of which 34% is estimated to be oil, 11% natural gas liquids, and the balance natural gas. Previously the Company had estimated its fourth quarter production would average 31,500 to 35,000 Boe/d.
Tracy W. Krohn, W&T’s Chairman and Chief Executive Officer commented, “This year has been an extraordinary one, from a worldwide pandemic to a record-breaking number of hurricanes, but through it all our team has remained focused on operational excellence and maximizing our free cash flow generation. The operations team has done an outstanding job restoring production in the fourth quarter faster than anticipated and, as a result, we are increasing our fourth quarter production midpoint from 33,250 Boe/d to 35,800 Boe/d. The timing couldn’t have been better with the recent uptick in oil pricing and we are well positioned to end the year on a positive note. We look to carry this momentum into 2021 and we firmly believe that we are well-positioned to deliver strong value creation for our shareholders.”.
The results of the trading session contributed to over 3076270 shares changing hands. Over the past one week, the price volatility of W&T Offshore Inc. stands at 5.35% while the volatility over the past one month is 9.12%.
The market cap for WTI stock reached $338.43 million, with 141.62 million shares outstanding and 92.48 million shares in the current float. Compared to the average trading volume of 3.94M shares, WTI reached a trading volume of 3076270 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]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WTI shares is $3.55 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WTI stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
CapitalOne have made an estimate for W&T Offshore Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on November 05, 2020. The new note on the price target was released on April 17, 2020, representing the official price target for W&T Offshore Inc. stock. Previously, the target price had yet another drop from $8 to $2, while Stifel kept a Hold rating on WTI stock.
The Average True Range (ATR) for W&T Offshore Inc. is set at 0.19, with the Price to Sales ratio for WTI stock in the period of the last 12 months amounting to 0.84. Price to Free Cash Flow for WTI in the course of the last twelve months was 2.11 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 -9.34. With this latest performance, WTI shares gained by 33.91% in over the last four-week period, additionally sinking by -9.34% over the last 6 months – not to mention a drop of -56.61% 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 55.49, with the RSI for the last a single of trading hit 50.92, and the three-weeks RSI is set at 56.45 for W&T Offshore Inc. [WTI]. The present Moving Average for the last 50 days of trading for this stock 1.90, while it was recorded at 2.48 for the last single week of trading, and 2.17 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 0.07/share EPS, while the average EPS was predicted by analysts to be reported at 0.02/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 250.00%. 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 $115 million, or 38.30% of WTI stock, in the hands of institutional investors. The top three institutional holders of WTI stocks are: BLACKROCK INC. with ownership of 7,303,472, which is approximately 5.861% of the company’s market cap and around 34.30% of the total institutional ownership; VANGUARD GROUP INC, holding 6,323,587 shares of the stock with an approximate value of $14.73 million in WTI stocks shares; and LSV ASSET MANAGEMENT, currently with $9.2 million in WTI stock with ownership of nearly 4.949% of the company’s market capitalization.
Positions in W&T Offshore Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 42 institutional holders increased their position in W&T Offshore Inc. [NYSE:WTI] by around 5,892,384 shares. Additionally, 61 investors decreased positions by around 8,284,835 shares, while 26 investors held positions by with 35,177,886 shares. The mentioned changes placed institutional holdings at 49,355,105 shares, according to the latest SEC report filing. WTI stock had 12 new institutional investments in for a total of 248,087 shares, while 24 institutional investors sold positions of 4,767,865 shares during the same period.