In today’s recent session, 2,613,171 shares of the W&T Offshore, Inc.(NYSE:WTI) have been traded, and its beta is 3.3. Most recently the company’s share price was $3.09, and it changed around $0.1 or 0.03% from the last close, which brings the market valuation of the company to $431.01 Million. WTI at last check was trading at a discount to its 52-week high of $3.97, offering almost -28.48% off that amount. The share price’s 52-week low was $1.07, which indicates that the recent value has risen by an impressive 65.37% since then. We note from W&T Offshore, Inc.’s average daily trading volume that its 10-day average is 3.35 Million shares, with the 3-month average coming to 4.5 Million.
W&T Offshore, Inc. stock received a consensus recommendation rating of Overweight, based on a mean score of 2.7. If we narrow it down even further, the data shows that none out of 3 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 2 recommended WTI as a Hold, whereas 1 deemed it a Buy, and no one rated it as Underweight. W&T Offshore, Inc. is expected to report earnings per share of -$0.26 for the current quarter.
W&T Offshore, Inc. (NYSE:WTI): Trading Information Today
Instantly WTI has been showing a green trend so far today with a performance of 3.18% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $3.14- on Monday, Feb 22 increased the stock’s daily price by 3.21%. The company’s shares are currently up 0.4% year-to-date, but still up 0.0064 over the last five days. On the other hand, W&T Offshore, Inc. (NYSE:WTI) is 0.3% up in the 30-day period. We can see from the shorts that 11.34 Million shares have been sold at a short interest cover period of 2.52 day(s).
The consensus price target as assigned by Wall Street analysts is $3.53, which translates to bears needing to increase their stock price by 14.24% from its current value. Analyst projections state that WTI is forecast to be at a low of $2.6 and a high of $4.5. In order for the stock price to hit the forecast high, the stock would need to surge +45.63% from its current level, while the stock would need to crash -15.86% from its current level to reach the projected low.
W&T Offshore, Inc. (WTI) projections and forecasts
W&T Offshore, Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +27.23 percent over the past six months and at a -145% annual growth rate that is well below the industry average of -24.7%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -471.4% in revenue this quarter, and will report a decline of -100% in the next quarter. The year-over-year growth rate is expected to be -38.2%, down from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $78.61 Million in revenue for the current quarter. 2 analysts expect W&T Offshore, Inc. to make $93.97 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarter a year ago was $151.89 Million. Analysts predict that the company’s current quarter sales will drop, forecast at -48.2%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 40.2%. W&T Offshore, Inc. earnings are expected to decrease by -70.6% in 2021, but the outlook is negative 0% per year for the next five years.
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W&T Offshore, Inc. (NYSE:WTI)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 34.97% of W&T Offshore, Inc. shares, and 38.32% of them are in the hands of institutional investors. The stock currently has a share float of 58.92%. W&T Offshore, Inc. stock is held by 163 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2020, it held 4.82% of the shares, which is about 6.84 Million shares worth $14.84 Million.
Vanguard Group, Inc. (The), with 4.46% or 6.32 Million shares worth $11.38 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.