Equities analysts expect W&T Offshore, Inc. (NYSE:WTI) to announce sales of $151.01 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for W&T Offshore’s earnings. The highest sales estimate is $155.54 million and the lowest is $147.40 million. W&T Offshore posted sales of $143.42 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.3%. The company is scheduled to report its next quarterly earnings results on Wednesday, February 26th.
According to Zacks, analysts expect that W&T Offshore will report full year sales of $532.55 million for the current fiscal year, with estimates ranging from $528.70 million to $538.54 million. For the next year, analysts anticipate that the business will report sales of $596.27 million, with estimates ranging from $573.00 million to $617.02 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for W&T Offshore.
W&T Offshore (NYSE:WTI) last announced its earnings results on Wednesday, October 30th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.08. The business had revenue of $132.20 million for the quarter, compared to analysts’ expectations of $133.52 million. W&T Offshore had a negative return on equity of 29.02% and a net margin of 38.63%. The business’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share.
Several equities analysts recently weighed in on the company. Stifel Nicolaus set a $10.00 target price on W&T Offshore and gave the company a “buy” rating in a research report on Monday, August 12th. ValuEngine raised W&T Offshore from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded W&T Offshore from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research note on Monday, October 21st. Finally, Roth Capital set a $11.00 target price on shares of W&T Offshore and gave the stock a “buy” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. W&T Offshore currently has a consensus rating of “Buy” and a consensus target price of $8.75.
Shares of NYSE:WTI traded down $0.07 during midday trading on Monday, hitting $4.35. The company had a trading volume of 46,536 shares, compared to its average volume of 2,552,570. The company has a market cap of $623.26 million, a price-to-earnings ratio of 4.31 and a beta of 2.97. W&T Offshore has a 12-month low of $3.62 and a 12-month high of $7.18. The company has a fifty day moving average of $4.25 and a two-hundred day moving average of $4.44.
Large investors have recently bought and sold shares of the business. Rhumbline Advisers lifted its position in W&T Offshore by 9.4% during the third quarter. Rhumbline Advisers now owns 151,580 shares of the oil and gas company’s stock valued at $662,000 after purchasing an additional 13,061 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of W&T Offshore by 9.0% in the second quarter. Panagora Asset Management Inc. now owns 857,952 shares of the oil and gas company’s stock valued at $4,255,000 after acquiring an additional 70,749 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of W&T Offshore by 9.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,335,635 shares of the oil and gas company’s stock worth $25,398,000 after acquiring an additional 446,978 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of W&T Offshore by 8.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 40,274 shares of the oil and gas company’s stock worth $176,000 after acquiring an additional 3,298 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in shares of W&T Offshore by 79.0% during the 2nd quarter. Aperio Group LLC now owns 24,978 shares of the oil and gas company’s stock worth $124,000 after purchasing an additional 11,027 shares during the period. 59.32% of the stock is currently owned by institutional investors and hedge funds.
W&T Offshore Company Profile
W&T Offshore, Inc, an independent oil and natural gas producer, acquires, explores for, and develops oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interests in approximately 49 offshore fields in federal and state waters.
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