W&T Offshore, Inc. (NYSE:WTI)’s share price was up 5.2% on Tuesday . The stock traded as high as $8.12 and last traded at $8.09. Approximately 2,528,873 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 3,317,637 shares. The stock had previously closed at $7.69.
Several equities analysts have weighed in on WTI shares. Roth Capital raised W&T Offshore from a “neutral” rating to a “buy” rating and lifted their target price for the company from $8.50 to $10.75 in a research report on Monday. Seaport Global Securities reaffirmed a “buy” rating on shares of W&T Offshore in a research report on Wednesday, July 25th. Zacks Investment Research raised W&T Offshore from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Tuesday, July 17th. Finally, KLR Group reaffirmed a “sell” rating and issued a $6.25 target price on shares of W&T Offshore in a research report on Monday, August 20th. Three analysts have rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the company. W&T Offshore presently has an average rating of “Hold” and an average target price of $8.75.
The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 13.89 and a beta of 2.55. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of -1.50.
W&T Offshore (NYSE:WTI) last released its earnings results on Wednesday, August 1st. The oil and gas company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.10. The company had revenue of $149.60 million during the quarter, compared to the consensus estimate of $150.66 million. W&T Offshore had a negative return on equity of 18.00% and a net margin of 16.40%. W&T Offshore’s revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. On average, research analysts predict that W&T Offshore, Inc. will post 0.9 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James & Associates purchased a new position in shares of W&T Offshore in the 2nd quarter valued at about $101,000. Teacher Retirement System of Texas purchased a new position in shares of W&T Offshore in the 2nd quarter valued at about $141,000. Thompson Davis & CO. Inc. purchased a new position in shares of W&T Offshore in the 2nd quarter valued at about $152,000. Campbell & CO Investment Adviser LLC purchased a new position in shares of W&T Offshore in the 2nd quarter valued at about $170,000. Finally, Globeflex Capital L P purchased a new position in shares of W&T Offshore in the 2nd quarter valued at about $172,000. 57.59% of the stock is owned by institutional investors.
W&T Offshore Company Profile (NYSE:WTI)
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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