W&T Offshore (NYSE:WTI) Shares Gap Up to $4.74

W&T Offshore, Inc. (NYSE:WTI – Get Rating) shares gapped up prior to trading on Friday . The stock had previously closed at $4.74, but opened at $4.89. W&T Offshore shares last traded at $4.89, with a volume of 42,677 shares trading hands.

Wall Street Analyst Weigh In

WTI has been the subject of a number of analyst reports. Stifel Nicolaus raised their price objective on W&T Offshore to $8.40 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com lowered W&T Offshore from a “buy” rating to a “hold” rating in a research report on Thursday, July 21st.

W&T Offshore Stock Performance

The company has a market cap of $710.77 million, a P/E ratio of -16.03 and a beta of 2.32. The stock has a 50-day moving average of $5.51 and a two-hundred day moving average of $4.96.

W&T Offshore (NYSE:WTI – Get Rating) last posted its earnings results on Tuesday, May 3rd. The oil and gas company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The business had revenue of $191.00 million during the quarter, compared to analyst estimates of $159.49 million. W&T Offshore had a negative return on equity of 18.05% and a negative net margin of 6.93%. The company’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. Research analysts predict that W&T Offshore, Inc. will post 1.56 EPS for the current year.

Institutional Trading of W&T Offshore

Institutional investors and hedge funds have recently modified their holdings of the business. Triasima Portfolio Management inc. bought a new stake in shares of W&T Offshore in the 2nd quarter worth $31,000. Point72 Hong Kong Ltd purchased a new position in shares of W&T Offshore in the 1st quarter worth $33,000. Aaron Wealth Advisors LLC purchased a new position in shares of W&T Offshore in the 1st quarter worth $2,980,000. PEAK6 Investments LLC purchased a new position in shares of W&T Offshore in the 1st quarter worth $45,000. Finally, Bank of Nova Scotia purchased a new position in shares of W&T Offshore in the 1st quarter worth $46,000. Institutional investors own 36.85% of the company’s stock.

W&T Offshore Company Profile

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W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. As of December 31, 2021, the company had working interests in 43 fields in federal and state waters; and under lease approximately 606,000 gross acres, including approximately 419,000 gross acres on the Gulf of Mexico Shelf, as well as approximately 187,000 gross acres in the Gulf of Mexico deepwater.