W&T Offshore Inc. [NYSE: WTI] plunged by -$0.47 during the normal trading session on Wednesday and reaching a high of $4.95 during the day while it closed the day at $4.65. The company report on March 7, 2023 that W&T Offshore Announces Fourth Quarter and Full Year 2022 Results Including Year-End 2022 Proved Reserves; Provides Guidance for 2023.
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W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today reported operational and financial results for the fourth quarter and full year 2022, including the Company’s year-end 2022 reserve report. Guidance for 2023 was also provided. This press release includes non-GAAP financial measures, including Adjusted Net Income, Adjusted EBITDA, Free Cash Flow, Net Debt, Net Leverage Ratio and PV-10 which are described and reconciled to the most comparable GAAP measures below in the accompanying tables under “Non-GAAP Information.”.
Key highlights for the fourth quarter and full year 2022 included:.
W&T Offshore Inc. stock has also loss -19.97% of its value over the past 7 days. However, WTI stock has declined by -18.71% in the 3 months of the year. Over the past six months meanwhile, it has lost -30.80% and lost -16.67% year-on date.
The market cap for WTI stock reached $671.93 million, with 143.49 million shares outstanding and 90.69 million shares in the current float. Compared to the average trading volume of 2.84M shares, WTI reached a trading volume of 5248825 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $10.20 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 1.50. 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.
Stifel have made an estimate for W&T Offshore Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 25, 2022. While these analysts kept the previous recommendation, Stifel raised their target price from $5.10 to $6.90. The new note on the price target was released on October 20, 2021, representing the official price target for W&T Offshore Inc. stock.
The Average True Range (ATR) for W&T Offshore Inc. is set at 0.37, with the Price to Sales ratio for WTI stock in the period of the last 12 months amounting to 0.73. The Price to Book ratio for the last quarter was 93.00, with the Price to Cash per share for the same quarter was set at 3.19. Price to Free Cash Flow for WTI in the course of the last twelve months was 1.98 with Quick ratio for the last quarter at 0.70.
WTI stock trade performance evaluation
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 -19.97. With this latest performance, WTI shares dropped by -23.39% in over the last four-week period, additionally sinking by -30.80% over the last 6 months – not to mention a rise of 1.97% 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 31.98, with the RSI for the last a single of trading hit 25.15, and the three-weeks RSI is set at 36.30 for W&T Offshore Inc. [WTI]. The present Moving Average for the last 50 days of trading for this stock 5.76, while it was recorded at 5.13 for the last single week of trading, and 6.12 for the last 200 days.
W&T Offshore Inc. [WTI]: An insightful look at the core 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 +49.30 and a Gross Margin at +57.31. W&T Offshore Inc.’s Net Margin is presently recorded at +25.10.
W&T Offshore Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.
W&T Offshore Inc. [WTI]: Insider Ownership positions
There are presently around $361 million, or 53.90% of WTI stock, in the hands of institutional investors. The top three institutional holders of WTI stocks are: STATE STREET CORP with ownership of 11,807,814, which is approximately 17.536% of the company’s market cap and around 33.60% of the total institutional ownership; VANGUARD GROUP INC, holding 10,012,085 shares of the stock with an approximate value of $46.56 million in WTI stocks shares; and BLACKROCK INC., currently with $32.06 million in WTI stock with ownership of nearly 6.033% of the company’s market capitalization.
Positions in W&T Offshore Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 92 institutional holders increased their position in W&T Offshore Inc. [NYSE:WTI] by around 10,319,978 shares. Additionally, 80 investors decreased positions by around 6,857,133 shares, while 30 investors held positions by with 60,540,451 shares. The mentioned changes placed institutional holdings at 77,717,562 shares, according to the latest SEC report filing. WTI stock had 33 new institutional investments in for a total of 2,027,045 shares, while 27 institutional investors sold positions of 1,746,300 shares during the same period.