W&T Offshore (NYSE:WTI) has risen sharply, recording gains of 5.83% in the past 4 weeks. However, the stock has corrected -4.39% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 4.14% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The company shares have dropped -53.22% from its 1 Year high price. On Jul 15, 2015, the shares registered one year high at $4.99 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $2.16 and the 200 Day Moving Average price is recorded at $2.13.
The stock has recorded a 20-day Moving Average of 0.25% and the 50-Day Moving Average is 0.79%.
W&T Offshore (NYSE:WTI): stock turned positive on Friday. Though the stock opened at $2.18, the bulls momentum made the stock top out at $2.215 level for the day. The stock recorded a low of $2.15 and closed the trading day at $2.18, in the green by 0.46%. The total traded volume for the day was 656,545. The stock had closed at $2.17 in the previous days trading.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of W&T Offshore Inc, Nelson S James, had purchased 9,000 shares in a transaction dated on November 11, 2015. The transaction was executed at $3.7 per share with total amount equaling $33,300.
W&T Offshore, Inc. is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties primarily in the Gulf of Mexico and the Permian Basin in West Texas. Its onshore activities are primarily in the Permian Basin in West Texas. The Company owns a platform in the Gulf of Mexico located in a National Marine Sanctuary. The offshore fields are found in water depths ranging from less than 10 feet up to 7,200 feet. Its properties include Spraberry Field (Yellow Rose), Ship Shoal 349 Field (Mahogany), Fairway Field, The Viosca Knoll 783 field, Mississippi Canyon 243 Field (Matterhorn), Main Pass 108 Field, Mississippi Canyon 782 Field (Dantzler), Viosca Knoll 823 Field (Virgo), East Cameron 321 and Main Pass 283.