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Investors Cash In On W & T Offshore Inc’s 2.86% Gain

W & T Offshore Inc (NYSE:WTI) price closed higher on Friday, February 09, jumping 2.86% below its previous close.

A look at the daily price movement shows that the last close reads $9.70. The company’s 5Y monthly beta was ticking 1.58 while its P/E ratio in the trailing 12-month period read 6.84. Taking into account the 52-week price action we note that the stock hit a 52-week high of $6.32 and 52-week low of $2.55. The stock subtracted -1.72% on its value in the past month.

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W & T Offshore Inc, which has a market valuation of $419.19 million, is expected to release its quarterly earnings report Mar 05, 2024 – Mar 11, 2024. The company stock has a Forward Dividend ratio of 0.02 (0.70%), while the dividend yield is 0.01 (0.35%). It is understandable that investor optimism is growing ahead of the company’s current quarter results.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give WTI a short term outlook of 100% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

The overview shows that WTI’s price is at present -80.00% off the SMA20 and -46.56% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 43.67, with weekly volatility standing at 4.16%. The indicator jumps to 5.07% when calculated based on the past 30 days. W & T Offshore Inc (NYSE:WTI)’s beta value is holding at 1.56, while the average true range (ATR) indicator is currently reading 0.14.

Turning out attention to how the W & T Offshore Inc stock has performed in comparison to its peers in the industry, here’s what we find: WTI’s stock is 2.86% on the day and -50.86% in the past 12 months, while Callon Petroleum Co. (CPE) traded -2.50%% in the last session and was positioned -25.30% down on its price 12 months ago. As for W & T Offshore Inc, the P/E ratio stands at 6.84 higher than that of Callon Petroleum Co.’s at 3.86.

An analysis of the W & T Offshore Inc (NYSE:WTI) stock in terms of its daily trading volume indicates that the 3-month average is 0.82. However, this figure increases on the past 10-day timeline to an average of 2.41 million.

Current records show that the company has 146.13M in outstanding shares. The insiders’ percentage holdings are 33.84% of outstanding shares while the percentage share held by institutions stands at 43.69%. The stats also highlight that short interest as of Jan 31, 2024, stood at 19.17 million shares, which puts the short ratio at the time at 7.08. From this we can glean that short interest is 13.08% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 17.17 million. But the -12.27% downside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.