W and T Offshore (WTI) NewsBite - WTI Downgraded By Jefferies & Co.

Posted: Friday, November 06, 2009 2:04 PM EDT

W and T Offshore (WTI) was downgraded today by analysts at Jefferies & Co. and the stock is now at $10.80, down $0.98 (-8.32%) on volume of 712,256 shares traded. The brokerage reduced WTI to Hold from Buy. Over the last 52 weeks the stock has ranged from a low of $4.94 to a high of $18.05. W and T Offshore stock has been showing support around $10.73 and resistance in the $13.35 range. Technical indicators for the stock are neutral and S&P gives WTI a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on WTI the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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