Zacks: Brokerages Expect W&T Offshore, Inc. (NYSE:WTI) to Announce $0.05 EPS

Equities research analysts expect W&T Offshore, Inc. (NYSE:WTI) to report earnings of $0.05 per share for the current quarter, according to Zacks. Two analysts have made estimates for W&T Offshore’s earnings. The lowest EPS estimate is $0.04 and the highest is $0.06. W&T Offshore reported earnings per share of $0.04 in the same quarter last year, which would indicate a positive year over year growth rate of 25%. The company is scheduled to report its next quarterly earnings results on Monday, June 28th.

On average, analysts expect that W&T Offshore will report full-year earnings of $0.35 per share for the current fiscal year, with EPS estimates ranging from $0.22 to $0.42. For the next financial year, analysts expect that the firm will post earnings of $0.46 per share, with EPS estimates ranging from $0.11 to $0.77. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover W&T Offshore.

W&T Offshore (NYSE:WTI) last issued its earnings results on Tuesday, March 2nd. The oil and gas company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.08. The company had revenue of $94.75 million for the quarter, compared to the consensus estimate of $82.11 million. W&T Offshore had a net margin of 31.40% and a negative return on equity of 21.21%.

Separately, Zacks Investment Research raised shares of W&T Offshore from a “hold” rating to a “strong-buy” rating and set a $2.50 price objective on the stock in a research report on Tuesday, January 5th.

Institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings in shares of W&T Offshore by 5.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 66,243 shares of the oil and gas company’s stock valued at $144,000 after buying an additional 3,710 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of W&T Offshore by 0.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,203,587 shares of the oil and gas company’s stock valued at $2,612,000 after buying an additional 6,945 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of W&T Offshore by 3.8% during the 3rd quarter. California Public Employees Retirement System now owns 216,619 shares of the oil and gas company’s stock valued at $390,000 after buying an additional 7,900 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of W&T Offshore by 80.8% during the 4th quarter. ProShare Advisors LLC now owns 20,888 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 9,334 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of W&T Offshore by 0.6% during the 3rd quarter. State Street Corp now owns 1,989,873 shares of the oil and gas company’s stock valued at $3,582,000 after buying an additional 12,193 shares in the last quarter. 36.60% of the stock is currently owned by institutional investors and hedge funds.

W&T Offshore stock traded down $0.08 during mid-day trading on Friday, reaching $3.52. 51,758 shares of the company traded hands, compared to its average volume of 4,475,959. The firm’s 50 day moving average price is $3.67 and its 200 day moving average price is $2.50. The firm has a market capitalization of $500.91 million, a price-to-earnings ratio of 3.44 and a beta of 3.16. W&T Offshore has a 52-week low of $1.35 and a 52-week high of $5.00.

About W&T Offshore

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interest in approximately 43 offshore fields in federal and state waters.

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