W&T Offshore, Inc. (NYSE:WTI) Expected to Announce Quarterly Sales of $147.96 Million

Brokerages expect that W&T Offshore, Inc. (NYSE:WTI) will post sales of $147.96 million for the current quarter, according to Zacks. Two analysts have issued estimates for W&T Offshore’s earnings. The highest sales estimate is $166.00 million and the lowest is $129.91 million. W&T Offshore reported sales of $94.75 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 56.2%. The company is expected to announce its next earnings results on Wednesday, March 2nd.

On average, analysts expect that W&T Offshore will report full-year sales of $528.64 million for the current financial year, with estimates ranging from $499.28 million to $558.00 million. For the next year, analysts forecast that the business will report sales of $615.60 million, with estimates ranging from $593.20 million to $638.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow W&T Offshore.

Separately, Stifel Nicolaus upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating and boosted their target price for the stock from $5.10 to $6.90 in a report on Wednesday, October 20th.

W&T Offshore stock traded down $0.01 during trading hours on Thursday, reaching $3.71. The stock had a trading volume of 1,778,054 shares, compared to its average volume of 3,158,090. The company has a market cap of $528.18 million, a price-to-earnings ratio of -5.30 and a beta of 2.98. The business’s 50 day moving average price is $3.99 and its 200-day moving average price is $3.90. W&T Offshore has a 52 week low of $1.94 and a 52 week high of $5.14.

Institutional investors and hedge funds have recently bought and sold shares of the company. Dark Forest Capital Management LP increased its holdings in shares of W&T Offshore by 23,750.0% during the third quarter. Dark Forest Capital Management LP now owns 7,155 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 7,125 shares in the last quarter. Citigroup Inc. increased its holdings in shares of W&T Offshore by 30.9% during the third quarter. Citigroup Inc. now owns 11,126 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 2,625 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of W&T Offshore during the first quarter valued at about $47,000. Principal Financial Group Inc. acquired a new position in shares of W&T Offshore during the second quarter valued at about $53,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in W&T Offshore in the second quarter valued at approximately $55,000. Hedge funds and other institutional investors own 41.73% of the company’s stock.

About W&T Offshore

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.

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