Equities research analysts expect W&T Offshore, Inc. (NYSE:WTI) to post earnings of $0.21 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for W&T Offshore’s earnings, with the lowest EPS estimate coming in at $0.16 and the highest estimate coming in at $0.29. W&T Offshore posted earnings of $0.04 per share in the same quarter last year, which would indicate a positive year over year growth rate of 425%. The business is expected to issue its next earnings results after the market closes on Wednesday, October 31st.
On average, analysts expect that W&T Offshore will report full year earnings of $0.89 per share for the current fiscal year, with EPS estimates ranging from $0.87 to $0.90. For the next financial year, analysts forecast that the business will post earnings of $0.73 per share, with EPS estimates ranging from $0.69 to $0.76. Zacks’ EPS averages are an average based on a survey of research analysts that follow W&T Offshore.
W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.10. W&T Offshore had a net margin of 16.40% and a negative return on equity of 18.00%. The company had revenue of $149.60 million during the quarter, compared to analysts’ expectations of $150.66 million. During the same period in the prior year, the company posted $0.22 earnings per share. W&T Offshore’s revenue for the quarter was up 21.3% compared to the same quarter last year.
A number of equities research analysts have commented on the stock. Roth Capital upgraded shares of W&T Offshore from a “neutral” rating to a “buy” rating and raised their price target for the stock from $8.50 to $10.75 in a report on Monday, October 15th. Zacks Investment Research upgraded shares of W&T Offshore from a “hold” rating to a “strong-buy” rating and set a $9.25 price target for the company in a report on Thursday, September 27th. KLR Group restated a “sell” rating and issued a $6.25 price target on shares of W&T Offshore in a report on Monday, August 20th. Finally, Seaport Global Securities restated a “buy” rating on shares of W&T Offshore in a report on Wednesday, July 25th. Three investment analysts have rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $8.75.
NYSE:WTI traded up $0.10 during trading hours on Friday, reaching $7.74. The company had a trading volume of 2,286,570 shares, compared to its average volume of 4,069,892. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of -1.50. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 13.82 and a beta of 2.56. W&T Offshore has a twelve month low of $2.60 and a twelve month high of $9.88.
A number of large investors have recently bought and sold shares of WTI. Raymond James & Associates acquired a new stake in W&T Offshore in the second quarter worth $101,000. Teacher Retirement System of Texas acquired a new stake in W&T Offshore in the second quarter worth $141,000. Thompson Davis & CO. Inc. acquired a new stake in W&T Offshore in the second quarter worth $152,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of W&T Offshore during the second quarter valued at about $170,000. Finally, Globeflex Capital L P acquired a new position in shares of W&T Offshore during the second quarter valued at about $172,000. Institutional investors and hedge funds own 57.56% of the company’s stock.
W&T Offshore Company Profile
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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