Wall Street analysts expect W&T Offshore, Inc. (NYSE:WTI) to report earnings of $0.03 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for W&T Offshore’s earnings, with the highest EPS estimate coming in at $0.08 and the lowest estimate coming in at $0.00. W&T Offshore reported earnings of $0.22 per share in the same quarter last year, which indicates a negative year over year growth rate of 86.4%. The business is expected to report its next quarterly earnings results on Wednesday, February 26th.
On average, analysts expect that W&T Offshore will report full year earnings of $0.44 per share for the current fiscal year, with EPS estimates ranging from $0.43 to $0.44. For the next fiscal year, analysts forecast that the company will report earnings of $0.26 per share, with EPS estimates ranging from $0.19 to $0.36. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow W&T Offshore.
W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Wednesday, October 30th. The oil and gas company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. The firm had revenue of $132.20 million during the quarter, compared to analysts’ expectations of $133.52 million. W&T Offshore had a net margin of 38.63% and a negative return on equity of 29.02%. The business’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share.
Several research firms have commented on WTI. Zacks Investment Research cut shares of W&T Offshore from a “strong-buy” rating to a “hold” rating and set a $7.00 price target for the company. in a report on Thursday, January 2nd. ValuEngine cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a report on Saturday, December 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $9.33.
Institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd boosted its holdings in shares of W&T Offshore by 1,442.4% in the 2nd quarter. Point72 Hong Kong Ltd now owns 9,825 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 9,188 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of W&T Offshore by 907.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 12,860 shares of the oil and gas company’s stock valued at $57,000 after buying an additional 11,583 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of W&T Offshore in the 3rd quarter valued at $70,000. Nisa Investment Advisors LLC boosted its holdings in shares of W&T Offshore by 17.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 20,040 shares of the oil and gas company’s stock valued at $111,000 after buying an additional 2,940 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of W&T Offshore by 17.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 21,787 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 3,215 shares in the last quarter. Institutional investors and hedge funds own 59.63% of the company’s stock.
Shares of WTI stock traded down $0.13 during trading on Wednesday, reaching $5.17. The company’s stock had a trading volume of 2,187,355 shares, compared to its average volume of 2,291,428. W&T Offshore has a 1-year low of $3.75 and a 1-year high of $7.18. The company has a market capitalization of $727.37 million, a price-to-earnings ratio of 3.69 and a beta of 3.03. The stock’s 50-day moving average price is $5.08 and its 200 day moving average price is $4.59.
About W&T Offshore
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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