W&T Offshore (WTI) Hits New 12-Month High at $9.44
W&T Offshore, Inc. (NYSE:WTI) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $9.44 and last traded at $9.34, with a volume of 289623 shares trading hands. The stock had previously closed at $8.71.
A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded W&T Offshore from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research report on Tuesday, July 17th. Seaport Global Securities reiterated a “buy” rating on shares of W&T Offshore in a research report on Wednesday, July 25th. Capital One Financial lowered W&T Offshore from an “equal weight” rating to an “underweight” rating in a research report on Thursday, May 31st. Finally, KLR Group reiterated a “sell” rating and set a $6.25 target price on shares of W&T Offshore in a research report on Monday, August 20th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $8.00.
The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of -1.50. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 16.28 and a beta of 2.65.
Hedge funds have recently made changes to their positions in the business. Raymond James & Associates purchased a new position in W&T Offshore in the 2nd quarter valued at $101,000. Teacher Retirement System of Texas purchased a new position in W&T Offshore in the 2nd quarter valued at $141,000. Thompson Davis & CO. Inc. purchased a new position in W&T Offshore in the 2nd quarter valued at $152,000. Campbell & CO Investment Adviser LLC purchased a new position in W&T Offshore in the 2nd quarter valued at $170,000. Finally, Globeflex Capital L P purchased a new position in W&T Offshore in the 2nd quarter valued at $172,000. Institutional investors own 57.59% of the company’s stock.
About W&T Offshore (NYSE:WTI)
W&T Offshore, Inc, an independent oil and natural gas producer, acquires, explores for, and develops oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interests in approximately 49 offshore fields in federal and state waters.
Recommended Story: Diversification For Individual Investors
Receive News & Ratings for W&T Offshore Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W&T Offshore and related companies with MarketBeat.com's FREE daily email newsletter.