W & T Offshore Inc [NYSE: WTI] price surged by 5.50 percent to reach at $0.16. The company report on January 22, 2024 at 6:45 AM that W&T Offshore Announces Closing of Accretive Acquisition of Six Gulf of Mexico Fields.
W&T Offshore, Inc. (NYSE: WTI) (the “Company” or “W&T”) today announced that the Company has completed the accretive acquisition of six fields in shallow waters of the Gulf of Mexico. W&T was the successful bidder for certain synergistic assets in the Gulf of Mexico offered by MLCJR LLC, Cox Oil Offshore, L.L.C., Cox Operating, L.L.C., Energy XXI GOM, LLC, Energy XXI Gulf Coast, LLC, EPL Oil & Gas, LLC and M21K, LLC (collectively, the “Debtors”), as described in the Order Approving the Purchase And Sale Agreement With W&T Offshore, Inc. issued on January 16, 2024, the closing and effective date of the transaction. The final purchase price for the assets was $72.0 million, excluding certain closing costs, which was funded from the Company’s cash on hand. Key highlights of the transaction are as follows:.
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Provides strong producing properties, all of which are 100% working interest (average 82% net revenue interest) and are located adjacent to W&T existing area of operations;.
The one-year WTI stock forecast points to a potential upside of 67.85. The average equity rating for WTI stock is currently 1.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $9.55 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 1.00. 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.
The Average True Range (ATR) for W & T Offshore Inc is set at 0.14, with the Price to Sales ratio for WTI stock in the period of the last 12 months amounting to 0.76. The Price to Book ratio for the last quarter was 15.01, with the Price to Cash per share for the same quarter was set at 1.05. Price to Free Cash Flow for WTI in the course of the last twelve months was 45.31 with Quick ratio for the last quarter at 1.15.
WTI Stock Performance Analysis:
W & T Offshore Inc [WTI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.08. With this latest performance, WTI shares dropped by -7.25% in over the last four-week period, additionally sinking by -30.39% over the last 6 months – not to mention a drop of -50.56% 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 51.28, with the RSI for the last a single of trading hit 58.11, and the three-weeks RSI is set at 47.66 for W & T Offshore Inc [WTI]. The present Moving Average for the last 50 days of trading for this stock 3.23, while it was recorded at 2.80 for the last single week of trading, and 3.92 for the last 200 days.
Insight into W & T Offshore Inc Fundamentals:
W & T Offshore Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.15 and a Current Ratio set at 1.15.
WTI Stock EPS
With the latest financial reports released by the company, W & T Offshore Inc posted 0.3/share EPS, while the average EPS was predicted by analysts to be reported at 0.06/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 400.00%. 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.
W & T Offshore Inc [WTI] Institutonal Ownership Details
The top three institutional holders of WTI stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in WTI stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in WTI stock with ownership which is approximately 5.8325%.
