Shares of W&T Offshore Inc. (NYSE:WTI) traded today at $5.00, eclipsing its 52-week high. So far today approximately 19.7 million shares have been exchanged, as compared to an average 30-day volume of 4.2 million shares.
W&T Offshore Inc is an oil and gas exploration and production company. The company’s exploration operations are focused in the Gulf of Mexico, where it drills for oil and gas. The company engages in both deepwater drilling and shallow-water shelf drilling. W&T Offshore extracts crude oil, natural gas, and natural gas liquids, which are then sold directly at the wellhead. Overall, crude oil accounts for the majority of the company’s revenue, with natural gas accounting for a much smaller portion.
W&T Offshore Inc. (NYSE:WTI) is currently priced 11.4% above its average consensus analyst price target of $4.23.
In the past 52 weeks, W&T Offshore Inc. share prices are bracketed by a low of $1.07 and a high of $5.00 and is now at $4.78, 346% above that low price.
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