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On Thursday, analysts at KLR group upgraded shares of W&T Offshore Inc. (NYSE: WTI) to Buy, and maintained an $18 price target on the stock.
Gail Nicholson finds that the company offers 45 percent upside to their price target.
In addition, W&T has future catalysts ahead with the company’s new oil well at its Mahogany Field. Production at this well is expected to begin in the fourth quarter 2014.
Nicholson is forecasting WTI to grow liquid volumes by 30 percent in 2016 prompted by the Big Bend and Dantzler prospects. WTI’s Big Bend well is projected to begin production in late 2015.
W&T has roughly 1.2 million gross acres in the Gulf of Mexico and is currently running four rigs on these properties.
Shares of W&T closed Wednesday’s session at $12.18.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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