BlackRock Fund Advisors has recently announced that it has increased stake in W & T Offshore Inc (NYSE:WTI) by 5.67%. After grabbing 6.49 million shares, the institutional investor is now in possession of 0.35 million shares of the Energy Company. The new investment brought the stake of investor firm to 4.43% having worth around $21.66 million. Moreover, Huber Capital Management LLC increased its share by 0.88 million to have a control over 3.12 million shares. And Dimensional Fund Advisors LP raised its holdings to 45506.0 shares by acquiring 2.58 million shares or 1.76% of the stake.
W & T Offshore Inc (WTI) concluded trading on 12/21/23 at a closing price of $3.31, with 1.87 million shares of worth about $6.2 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -10.30% during that period and on Thursday the price saw a gain of about 3.12%. Currently the company’s common shares owned by public are about 146.13M shares, out of which, 97.08M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 2 analysts are covering the WTI stock and their offered price forecasts bring an average price target of $9.55. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $11.50 and could fall to a lowest price of $7.60. The stock’s current price level is 65.34% above of average price target set by the analysts, while a rise to estimated low would result in gain of 56.45% for the stock. However, touching the estimated high of $11.50 would mean a gain of 71.22% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 24 times over the past 12 months. They bought 309,661 shares in 12 of the transactions. In 12 selling transactions, insiders dumped 101,614 shares.
SPDR S&P Oil & Gas Exploration &, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in W & T Offshore Inc SPDR S&P Oil & Gas Exploration & is currently holding 3.63 million shares of worth totaling $12.11 million. The company recently came buying 0.0 shares which brought its stake up to 2.47% of the company’s outstanding shares. iShares Russell 2000 ETF, after buying 2.38 million shares, have now control over 1.63% of the stake in the company. It holds 1170.0 shares of worth $7.95 million.
However, the stock later moved at a day high price of 3.3200, or with a gain of 3.12%. Stock saw a price change of 0.00% in past 5 days and over the past one month there was a price change of -4.34%. Year-to-date (YTD), WTI shares are showing a performance of -40.68% which decreased to -40.79% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.86 but also hit the highest price of $6.68 during that period. The average intraday trading volume for W & T Offshore Inc shares is 2.76 million. The stock is currently trading 1.71% above its 20-day simple moving average (SMA20), while that difference is down -10.15% for SMA50 and it goes to -20.17% lower than SMA200.
BlackRock Fund Advisors acquired 6.49 million shares of W & T Offshore Inc having value of about $21.66 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.35 million shares in the company valued at close to $1152482.42, or have control over 5.67% stake in the company. W & T Offshore Inc (NYSE: WTI) currently have 146.13M outstanding shares and institutions hold larger chunk of about 42.49% of that. Holding of mutual funds in the company is about 21.71% while other institutional holders and individual stake holders have control over 35.75% and 20.80% of the stake respectively.
The stock has a current market capitalization of $485.15M and its 3Y-monthly beta is at 1.63. PE ratio of stock for trailing 12 months is 7.91, while it has posted earnings per share of $0.42 in the same period. It has Quick Ratio of 1.15 while making debt-to-equity ratio of 13.66. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for WTI, volatility over the week remained 4.13% while standing at 4.58% over the month.
Analysts are in expectations that W & T Offshore Inc (WTI) stock would likely to be making an EPS of $0.04 in the current quarter, while forecast for next quarter EPS is $0.05 and it is $0.2 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0.08 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.3 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -100.26% while it is estimated to increase by 4166.66% in next year.
Analysts at 2 brokerage firms have issued recommendations for the W & T Offshore Inc (WTI)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 2 Wall Street analysts, 2 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Stifel on October 25, 2022 offering a Buy rating for the stock and assigned a target price of $9.10 to it.
