Is W & T Offshore Inc (NYSE: WTI) Stock An Instant Disaster Or An Incredible Opportunity?

In the last trading session, 2.05 million W & T Offshore Inc (NYSE:WTI) shares changed hands as the company’s beta touched 1.56. With the company’s per share price at $2.98 changed hands at $0.12 or 4.20% during last session, the market valuation stood at $436.78M. WTI’s last price was a discount, traded about -112.08% off its 52-week high of $6.32. The share price had its 52-week low at $2.55, which suggests the last value was 14.43% up since then. When we look at W & T Offshore Inc’s average trading volume, we note the 10-day average is 2.37 million shares, with the 3-month average coming to 0.73.

W & T Offshore Inc (NYSE:WTI) trade information

Instantly WTI was in green as seen at the end of in last trading. With action 7.97%, the performance over the past five days has been green. The jump to weekly highs of 3.03 added 4.20% to the stock’s daily price. The company’s shares are showing year-to-date downside of -8.59%, with the 5-day performance at 7.97% in the green. However, in the 30-day time frame, W & T Offshore Inc (NYSE:WTI) is 2.05% up. Looking at the short shares, we see there were 19.17 million shares sold at short interest cover period of 7.08 days.

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W & T Offshore Inc (WTI) estimates and forecasts

Data shows that the W & T Offshore Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -27.67% over the past 6 months, a -101.02% in annual growth rate that is considerably lower than the industry average of -28.50%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for W & T Offshore Inc will fall -96.70%, while the growth in revenue is estimated to hit 250.00% for the next quarter. Year-over-year growth is forecast to reach -41.00% down from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $145.3 million. 2 analysts are of the opinion that W & T Offshore Inc’s revenue for the quarter ending Mar 2024 will be $146.15 million. The company’s revenue for the corresponding quarters a year ago was $189.7 million and $163.26 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -23.40%. The estimates for the next quarter sales put growth at -10.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 23.46%. The 2024 estimates are for W & T Offshore Inc earnings to decrease by -102.55%.

WTI Dividends

W & T Offshore Inc is expected to release its next quarterly earnings report between March 05 and March 11. The 0.34% annual yield figure for the share gives it an annual dividend of 0.01. It is important to note, however, that the 0.34% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

W & T Offshore Inc (NYSE:WTI)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 33.84% of W & T Offshore Inc shares while 44.94% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 67.92%. There are 44.94% institutions holding the W & T Offshore Inc stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 4.82% of the shares, roughly 7.06 million WTI shares worth $27.31 million.

State Street Corporation holds the second largest percentage of outstanding shares, with 4.29% or 6.28 million shares worth $24.31 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Oil & Gas Explor & Prod ETF and Vanguard Total Stock Market Index Fund. With 4.63 million shares estimated at $18.9 million under it, the former controlled 3.16% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.98% of the shares, roughly 2.9 million shares worth around $11.21 million.

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