W & T Offshore Inc [NYSE: WTI] loss -3.95% or -0.12 points to close at $2.92 with a heavy trading volume of 2951250 shares. 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 daily chart for WTI points out that the company has recorded -25.89% loss over the past six months.
If we look at the average trading volume of 2.84M shares, WTI reached to a volume of 2951250 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $9.70 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 0.15, 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 14.27, 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 43.10 with Quick ratio for the last quarter at 1.15.
Trading performance analysis for WTI stock
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 -8.18. With this latest performance, WTI shares dropped by -9.88% in over the last four-week period, additionally sinking by -25.89% over the last 6 months – not to mention a drop of -53.05% 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 43.50, with the RSI for the last a single of trading hit 42.35, and the three-weeks RSI is set at 43.31 for W & T Offshore Inc [WTI]. The present Moving Average for the last 50 days of trading for this stock 3.16, while it was recorded at 3.14 for the last single week of trading, and 3.87 for the last 200 days.
W & T Offshore Inc [WTI]: A deeper dive into fundamental analysis
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.
W & T Offshore Inc [WTI]: An earnings per share (EPS) analysis
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.
An analysis of Institutional ownership at W & T Offshore Inc [WTI]
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%.
