W&T Offshore, Inc. (NYSE:WTI – Get Rating)’s stock price fell 8.8% during mid-day trading on Friday . The company traded as low as $5.10 and last traded at $5.20. 65,728 shares traded hands during trading, a decline of 98% from the average session volume of 4,064,351 shares. The stock had previously closed at $5.70.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on WTI. Stifel Nicolaus upped their price target on W&T Offshore to $8.40 and gave the company a “buy” rating in a report on Wednesday, July 27th. StockNews.com raised W&T Offshore from a “hold” rating to a “buy” rating in a report on Tuesday, August 9th.
W&T Offshore Price Performance
The company has a market cap of $750.11 million, a PE ratio of 5.74 and a beta of 2.15. The business has a 50-day moving average of $5.76 and a 200 day moving average of $5.40.
Institutional Trading of W&T Offshore
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Triasima Portfolio Management inc. purchased a new stake in W&T Offshore in the second quarter worth about $31,000. Point72 Hong Kong Ltd bought a new position in shares of W&T Offshore in the first quarter worth about $33,000. Walleye Capital LLC bought a new position in shares of W&T Offshore in the second quarter worth about $43,000. Aaron Wealth Advisors LLC bought a new position in shares of W&T Offshore in the first quarter worth about $2,980,000. Finally, AE Wealth Management LLC bought a new position in shares of W&T Offshore in the second quarter worth about $50,000. Hedge funds and other institutional investors own 51.06% 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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