W & T Offshore Inc [NYSE: WTI] stock went on a downward path that fall over -3.47% on Tuesday, amounting to a one-week price decrease of less than -12.28%. The company report on March 11, 2024 at 4:45 PM that W&T Offshore Announces Participation in 36th Annual Roth Conference.
About W&T OffshoreW&T Offshore, Inc. is an independent oil and natural gas producer with operations offshore in the Gulf of Mexico and has grown through acquisitions, exploration and development. As of December 31, 2023, the Company had working interests in 53 fields in federal and state waters (which include 44 fields in federal waters and nine in state waters). The Company has under lease approximately 597,100 gross acres (440,000 net acres) spanning across the outer continental shelf off the coasts of Louisiana, Texas, Mississippi and Alabama, with approximately 435,600 gross acres on the conventional shelf, approximately 153,500 gross acres in the deepwater and 8,000 gross acres in Alabama state waters. A majority of the Company’s daily production is derived from wells it operates. For more information on W&T, please visit the Company’s website at www.wtoffshore.com.
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Over the last 12 months, WTI stock dropped by -53.36%. The one-year W & T Offshore Inc stock forecast points to a potential upside of 72.07. The average equity rating for WTI stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $367.15 million, with 146.58 million shares outstanding and 97.16 million shares in the current float. Compared to the average trading volume of 2.83M shares, WTI stock reached a trading volume of 4459524 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $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 0.69. The Price to Book ratio for the last quarter was 11.75, 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 10.72 with Quick ratio for the last quarter at 1.22.
WTI Stock Performance Analysis:
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 -12.28. With this latest performance, WTI shares dropped by -12.59% in over the last four-week period, additionally sinking by -38.42% over the last 6 months – not to mention a drop of -53.36% 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 29.16, with the RSI for the last a single of trading hit 21.04, and the three-weeks RSI is set at 33.96 for W & T Offshore Inc [WTI]. The present Moving Average for the last 50 days of trading for this stock 2.94, while it was recorded at 2.58 for the last single week of trading, and 3.68 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 1.22 and a Current Ratio set at 1.22.
WTI Stock EPS
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] 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%.
