W & T Offshore Inc (NYSE:WTI) shares, rose in value, without any change to the previous day’s close as strong demand from buyers drove the stock to $2.74.
Actively observing the price movement in the last trading, the stock closed the session at $2.74. The value of beta (5-year monthly) was 1.56 whereas the PE ratio was 26.52 over 12-month period. Referring to stock’s 52-week performance, its high was $5.46, and the low was $2.45. On the whole, WTI has fluctuated by 4.58% over the past month.
With the market capitalization of W & T Offshore Inc currently standing at about $402.40 million, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024. The company’s Forward Dividend Ratio is 0.02, with its dividend yield at 0.73%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.01, which is expected to increase to $0.04 for fiscal year $0.2 and then to about $0.2 by fiscal year 2025.
Analysts have estimated the company’s revenue for the quarter at $139.27 million, with a low estimate of $132.55 million and a high estimate of $146 million. According to the average forecast, sales growth in current quarter could jump down -14.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $590.56 million, representing an increase of 10.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that WTI’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of WTI currently trading nearly 5.40% and -3.05% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 52.84, while the 7-day volatility ratio is showing 3.48% which for the 30-day chart, stands at 4.28%. Furthermore, W & T Offshore Inc (WTI)’s beta value is 1.53, and its average true range (ATR) is 0.11.
A comparison of W & T Offshore Inc (WTI) with its peers suggests the former has fared considerably weaker in the market. WTI showed an intraday change of 0.00% in last session, and over the past year, it shrunk by -49.72%%.
Data on historical trading for W & T Offshore Inc (NYSE:WTI) indicates that the trading volumes over the past 10 days have averaged 2.04 million and over the past 3 months, they’ve averaged 2.96 million. According to company’s latest data on outstanding shares, there are 146.58 million shares outstanding.
Nearly 33.84% of W & T Offshore Inc’s shares belong to company insiders and institutional investors own 43.44% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 23.32 million shares as on Mar 15, 2024, resulting in a short ratio of 6. According to the data, the short interest in W & T Offshore Inc (WTI) stood at 15.88% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 20.06 million. The stock has fallen by -15.95% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the WTI stock heading into the next quarter.
