Brokerages expect that W&T Offshore, Inc. (NYSE:WTI) will report $0.23 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for W&T Offshore’s earnings. The highest EPS estimate is $0.25 and the lowest is $0.21. W&T Offshore reported earnings per share of $0.17 during the same quarter last year, which indicates a positive year over year growth rate of 35.3%. The business is scheduled to report its next earnings report on Wednesday, February 27th.
On average, analysts expect that W&T Offshore will report full year earnings of $0.95 per share for the current year, with EPS estimates ranging from $0.91 to $0.99. For the next fiscal year, analysts anticipate that the business will report earnings of $0.85 per share, with EPS estimates ranging from $0.73 to $1.05. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow W&T Offshore.
W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.24 by $0.06. W&T Offshore had a negative return on equity of 26.51% and a net margin of 23.54%. The firm had revenue of $153.50 million for the quarter, compared to the consensus estimate of $146.97 million. During the same quarter last year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was up 39.2% compared to the same quarter last year.
Several research analysts have recently commented on WTI shares. Zacks Investment Research raised W&T Offshore from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research note on Tuesday, November 20th. Roth Capital raised W&T Offshore from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $8.50 to $10.75 in a research note on Monday, October 15th. ValuEngine downgraded W&T Offshore from a “hold” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, KLR Group reaffirmed a “sell” rating and issued a $6.25 price objective on shares of W&T Offshore in a research note on Monday, August 20th. Three equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. W&T Offshore has a consensus rating of “Hold” and a consensus target price of $7.92.
Shares of NYSE WTI traded down $0.39 during trading on Thursday, hitting $5.72. The company had a trading volume of 2,782,000 shares, compared to its average volume of 3,289,198. W&T Offshore has a 12 month low of $2.60 and a 12 month high of $9.88. The company has a market capitalization of $850.23 million, a P/E ratio of 10.21 and a beta of 2.77.
A number of institutional investors and hedge funds have recently modified their holdings of WTI. Bank of Montreal Can bought a new stake in W&T Offshore during the 2nd quarter valued at approximately $2,808,000. Acadian Asset Management LLC bought a new stake in W&T Offshore during the 2nd quarter valued at approximately $1,286,000. Meeder Asset Management Inc. raised its stake in W&T Offshore by 184.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 25,304 shares of the oil and gas company’s stock valued at $181,000 after purchasing an additional 16,408 shares during the period. Cambria Investment Management L.P. bought a new stake in W&T Offshore during the 2nd quarter valued at approximately $434,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in W&T Offshore during the 2nd quarter valued at approximately $561,000. 66.27% of the stock is currently owned by institutional investors.
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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