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.
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
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.
- Get a free copy of the StockNews.com research report on W&T Offshore (WTI)
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