Arrowstreet Capital LP recently announced the acquisition of new stake in W&T Offshore Inc. (NYSE:WTI). The institutional investor has increased its shareholding in the Energy company by 4,271.97% to 2.42 million shares with purchase of 2.37 million shares. This fresh investment now brings its stake to 1.71% valued currently at $5.48 million. In addition, Wells Capital Management, Inc. raised its holdings by 0.94 million to 2.29 million shares.
With over 2.09 million W&T Offshore Inc. (WTI) shares trading Tuesday and a closing price of $2.36 on the day, the dollar volume was approximately $4.93 million. The shares have shown a negative weekly performance of 0.00% and its price on 08/25/20 gained nearly 1.29%. Currently, there are 141.60M common shares owned by the public and among those 92.48M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for WTI have a consensus price objective of $3.17. The analysts have set the share’s price value over the next 12 months at a high of $4.50 and a low of $2.50 should the stock experience a downside. Incidentally, analysts’ outlook for the W&T Offshore Inc. stock is 3.00 for the next 12 months. The average price target is 37.4% above its last price level and an upside to the estimated low will see the stock gain 5.6% over that period. But an upside of 47.56% will see the stock hit the forecast high price target while mean target price for the stock is $2.50.
Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 1,831,145 shares. Insider sales of the common stock occurred on 5 occasions, with total insider shares sold totaling 360,288 shares.
The top 3 mutual fund holders in W&T Offshore Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and DFA US Small Cap Portfolio. Vanguard Total Stock Market Index owns 2.53 million shares of the company’s stock, all valued at over $5.72 million. iShares Russell 2000 ETF sold 88060.0 shares to see its total holdings shrink to 1.88 million shares valued at over $4.26 million and representing 1.33% of the shares outstanding. DFA US Small Cap Portfolio sold -0.29 million shares to bring its total holdings to over 1.52 million shares at a value of $3.43 million. DFA US Small Cap Portfolio now owns shares totaling to 1.07% of the shares outstanding.
Shares of W&T Offshore Inc. (NYSE: WTI) opened at $2.36, up $0.03 from a prior closing price of $2.33. However, the script later closed the day at $2.36, up 1.29%. The company’s stock has a 5-day price change of 0.00% and -13.87% over the past three months. WTI shares are trading -57.55% year to date (YTD), with the 12-month market performance down to -42.44% lower. It has a 12-month low price of $1.07 and touched a high of $6.10 over the same period. Currently, 2.09 million shares have been traded, compared to an average intraday trading volume of 5.37 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.09%, -2.55%, and -25.55% respectively.
Institutional ownership of W&T Offshore Inc. (NYSE: WTI) shares accounts for 39.30% of the company’s 141.60M shares outstanding. Mutual fund holders own 18.60%, while other institutional holders and individual stakeholders account for 36.43% and 18.47% respectively.
It has a market capitalization of $347.63M and a beta (3y monthly) value of 3.28. The stock’s trailing 12-month PE ratio is 2.29, while the earnings-per-share (ttm) stands at $1.03. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.22% over the week and 4.91% over the month.
Analysts forecast that W&T Offshore Inc. (WTI) will achieve an EPS of -$0.19 for the current quarter, -$0.17 for the next quarter and -$0.19 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.41 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was $0.53 a year ago. Earnings per share for the fiscal year are expected to decrease by -70.60%, and 50.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate W&T Offshore Inc. (WTI) as a “Hold” at a consensus score of 3.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the WTI, a number of firms have released research notes about the stock. ROTH Capital stated their Buy rating for the stock in a research note on April 17, 2020, with the firm’s price target at. Stifel coverage for the W&T Offshore Inc. (WTI) stock in a research note released on March 09, 2020 offered a Hold rating with a price target of $2. Stifel was of a view on March 08, 2019 that the stock is Buy, while ROTH Capital gave the stock Neutral rating on May 23, 2018, issuing a price target of $8.75. CapitalOne on their part issued Underweight rating on May 16, 2018.