W&T Offshore, Inc. (NYSE:WTI – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $4.32, but opened at $4.43. W&T Offshore shares last traded at $4.21, with a volume of 39,122 shares.
Separately, StockNews.com upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating in a report on Wednesday.
The stock’s 50-day simple moving average is $5.95 and its 200 day simple moving average is $4.84. The company has a market cap of $596.36 million, a PE ratio of -13.94 and a beta of 2.19.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC raised its holdings in W&T Offshore by 40.5% in the third quarter. Cubist Systematic Strategies LLC now owns 169,018 shares of the oil and gas company’s stock valued at $629,000 after buying an additional 48,748 shares during the period. Millennium Management LLC grew its position in W&T Offshore by 105.7% in the 3rd quarter. Millennium Management LLC now owns 1,651,044 shares of the oil and gas company’s stock worth $6,142,000 after purchasing an additional 848,416 shares during the last quarter. Russell Investments Group Ltd. grew its position in W&T Offshore by 11.1% in the 4th quarter. Russell Investments Group Ltd. now owns 897,077 shares of the oil and gas company’s stock worth $2,895,000 after purchasing an additional 89,832 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in W&T Offshore in the 4th quarter worth about $6,849,000. Finally, Octavia Wealth Advisors LLC bought a new position in W&T Offshore in the 4th quarter worth about $41,000. 36.85% of the stock is currently owned by institutional investors and hedge funds.
About W&T Offshore (NYSE:WTI)
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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