W&T Offshore Inc. (WTI) Sees Strong Trading Volume
W&T Offshore Inc. (NYSE:WTI) saw unusually-high trading volume on Tuesday . Approximately 1,026,119 shares were traded during trading, an increase of 4% from the previous session’s volume of 986,558 shares.The stock last traded at $2.22 and had previously closed at $2.17.
Separately, Capital One Financial Corp. upgraded shares of W&T Offshore from an “underweight” rating to an “equal weight” rating in a report on Monday, March 28th. Six research analysts have rated the stock with a hold rating, W&T Offshore has an average rating of “Hold” and a consensus price target of $3.04.
The company’s market cap is $168.91 million. The stock has a 50 day moving average of $2.16 and a 200 day moving average of $2.12.
W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.95) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.90) by $0.05. The business had revenue of $77.70 million for the quarter, compared to the consensus estimate of $97.92 million. During the same period in the previous year, the company earned ($0.92) EPS. The business’s revenue for the quarter was down 39.2% compared to the same quarter last year. On average, equities analysts expect that W&T Offshore Inc. will post ($2.61) EPS for the current fiscal year.
An institutional investor recently raised its position in W&T Offshore stock. California Public Employees Retirement System raised its position in shares of W&T Offshore Inc. (NYSE:WTI) by 6.0% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,678,967 shares of the company’s stock after buying an additional 95,600 shares during the period. California Public Employees Retirement System owned approximately 2.21% of W&T Offshore worth $3,878,000 as of its most recent SEC filing.
W&T Offshore, Inc is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. The Company owns a platform in the Gulf of Mexico located in a National Marine Sanctuary. The Company’s fields are located in federal and state waters in the Gulf of Mexico.
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