W&T Offshore, Inc. (NYSE:WTI) will issue its quarterly earnings data after the market closes on Tuesday, October 31st. Analysts expect the company to announce earnings of ($0.02) per share for the quarter.
W&T Offshore (NYSE:WTI) last posted its earnings results on Thursday, August 3rd. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.21. W&T Offshore had a negative return on equity of 6.08% and a net margin of 25.52%. The company had revenue of $123.32 million for the quarter, compared to analyst estimates of $121.30 million. During the same quarter in the previous year, the firm earned ($0.47) earnings per share. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. On average, analysts expect W&T Offshore to post $0.52 EPS for the current fiscal year and $0.18 EPS for the next fiscal year.
W&T Offshore, Inc. (NYSE:WTI) opened at 3.01 on Friday. W&T Offshore, Inc. has a 1-year low of $1.31 and a 1-year high of $3.69. The stock has a market cap of $414.10 million, a price-to-earnings ratio of 3.23 and a beta of 2.51. The firm has a 50-day moving average price of $2.89 and a 200 day moving average price of $2.26.
A number of research firms have issued reports on WTI. Zacks Investment Research lowered W&T Offshore from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. ValuEngine lowered W&T Offshore from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. BidaskClub lowered W&T Offshore from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 11th. Finally, Barclays PLC reaffirmed a “sell” rating and issued a $1.50 price target on shares of W&T Offshore in a research report on Friday, July 7th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $2.50.
WARNING: “W&T Offshore, Inc. (WTI) Set to Announce Quarterly Earnings on Tuesday” was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another website, it was stolen and republished in violation of US & international copyright & trademark laws. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2017/10/29/wt-offshore-inc-wti-set-to-announce-quarterly-earnings-on-tuesday.html.
In related news, CEO Tracy W. Krohn purchased 918,763 shares of W&T Offshore stock in a transaction on Wednesday, September 13th. The shares were bought at an average price of $2.08 per share, with a total value of $1,911,027.04. Following the transaction, the chief executive officer now directly owns 44,532,480 shares of the company’s stock, valued at $92,627,558.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Virginia Boulet purchased 16,500 shares of W&T Offshore stock in a transaction on Thursday, September 14th. The stock was bought at an average cost of $2.46 per share, for a total transaction of $40,590.00. Following the transaction, the director now directly owns 178,047 shares in the company, valued at $437,995.62. The disclosure for this purchase can be found here. Insiders acquired a total of 1,388,841 shares of company stock worth $2,804,309 in the last ninety days. 32.58% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of WTI. State Street Corp raised its position in W&T Offshore by 103.7% in the 2nd quarter. State Street Corp now owns 1,265,497 shares of the oil and gas company’s stock valued at $2,481,000 after purchasing an additional 644,138 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of W&T Offshore by 782.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 82,579 shares of the oil and gas company’s stock valued at $162,000 after acquiring an additional 73,223 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of W&T Offshore by 132.2% in the 2nd quarter. California State Teachers Retirement System now owns 166,175 shares of the oil and gas company’s stock valued at $326,000 after acquiring an additional 94,600 shares during the last quarter. 49.10% of the stock is currently owned by institutional investors.
W&T Offshore Company Profile
W&T Offshore, Inc is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. As of December 31, 2016, the Company had interests in offshore leases covering approximately 750,000 gross acres (450,000 net acres) spanning across the Outer Continental Shelf (OCS) off the coasts of Louisiana, Texas, Mississippi and Alabama.
Receive News & Ratings for W&T Offshore Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W&T Offshore Inc. and related companies with MarketBeat.com's FREE daily email newsletter.