W & T Offshore Inc [NYSE: WTI] plunged by -$0.23 during the normal trading session on while it closed the day at $2.62. The company report on March 5, 2024 at 4:58 PM that W&T Offshore Announces Fourth Quarter and Full Year 2023 Results Including Year-End 2023 Proved Reserves, Provides Guidance for 2024, and Declares Dividend for First Quarter of 2024.
W&T Offshore, Inc. (NYSE: WTI) (“W&T” or the “Company”) today reported operational and financial results for the fourth quarter and full year 2023, including the Company’s year-end 2023 reserve report. Detailed guidance for the first quarter of 2024 and full year 2024 was also provided, and W&T announced its dividend for the first quarter of 2024. This press release includes non-GAAP financial measures, including Adjusted Net (Loss) Income, Adjusted EBITDA, Free Cash Flow, Net Debt 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 2023 and since year-end 2023 included:.
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Completed two accretive acquisitions of producing properties for a total of $99.4 million, or approximately $4.75 per barrel of oil equivalent (“Boe”);.
W & T Offshore Inc stock has also loss -12.08% of its value over the past 7 days. However, WTI stock has declined by -20.12% in the 3 months of the year. Over the past six months meanwhile, it has lost -38.06% and lost -19.63% year-on date.
The market cap for WTI stock reached $384.01 million, with 146.58 million shares outstanding and 96.97 million shares in the current float. Compared to the average trading volume of 2.72M shares, WTI reached a trading volume of 7752409 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 $8.95 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. 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 0.14, with the Price to Sales ratio for WTI stock in the period of the last 12 months amounting to 0.72. The Price to Book ratio for the last quarter was 12.31, with the Price to Cash per share for the same quarter was set at 1.21. Price to Free Cash Flow for WTI in the course of the last twelve months was 11.21 with Quick ratio for the last quarter at 1.15.
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 -12.08. With this latest performance, WTI shares dropped by -5.07% in over the last four-week period, additionally sinking by -38.06% over the last 6 months – not to mention a drop of -56.33% 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 32.93, with the RSI for the last a single of trading hit 25.26, and the three-weeks RSI is set at 36.91 for W & T Offshore Inc [WTI]. The present Moving Average for the last 50 days of trading for this stock 3.00, while it was recorded at 2.87 for the last single week of trading, and 3.71 for the last 200 days.
W & T Offshore Inc [WTI]: An insightful look at the core 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 1.22.
Earnings per share (EPS) analysis for W & T Offshore Inc [WTI] stock
With the latest financial reports released by the company, W & T Offshore Inc posted 0.17/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1,800.00%. 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]: Institutional Ownership
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%.
