W&T Offshore, Inc. (NYSE:WTI – Get Rating) shares shot up 2.5% during mid-day trading on Thursday . The stock traded as high as $6.32 and last traded at $6.12. 23,948 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 4,070,061 shares. The stock had previously closed at $5.97.
Analysts Set New Price Targets
Several brokerages have issued reports on WTI. StockNews.com raised shares of W&T Offshore from a “hold” rating to a “buy” rating in a research note on Tuesday, August 9th. Stifel Nicolaus boosted their target price on shares of W&T Offshore to $8.40 and gave the stock a “buy” rating in a research report on Wednesday, July 27th.
W&T Offshore Stock Performance
The company has a market capitalization of $824.54 million, a PE ratio of 6.63 and a beta of 2.15. The firm’s 50-day simple moving average is $5.72 and its 200 day simple moving average is $5.41.
Institutional Investors Weigh In On W&T Offshore
Institutional investors and hedge funds have recently made changes to their positions in the business. Triasima Portfolio Management inc. purchased a new stake in shares of W&T Offshore in the 2nd quarter worth about $31,000. Point72 Hong Kong Ltd purchased a new stake in shares of W&T Offshore in the 1st quarter worth about $33,000. Walleye Capital LLC purchased a new stake in shares of W&T Offshore in the 2nd quarter worth about $43,000. Aaron Wealth Advisors LLC acquired a new position in W&T Offshore in the 1st quarter valued at about $2,980,000. Finally, AE Wealth Management LLC acquired a new position in W&T Offshore in the 2nd quarter valued at about $50,000. 51.06% of the stock is currently owned by hedge funds and other institutional investors.
About W&T Offshore
W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. As of December 31, 2021, the company had working interests in 43 fields in federal and state waters; and under lease approximately 606,000 gross acres, including approximately 419,000 gross acres on the Gulf of Mexico Shelf, as well as approximately 187,000 gross acres in the Gulf of Mexico deepwater.
- Get a free copy of the StockNews.com research report on W&T Offshore (WTI)
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