W&T Offshore, Inc. (WTI) Expected to Announce Earnings of $0.12 Per Share

Equities research analysts forecast that W&T Offshore, Inc. (NYSE:WTI) will post $0.12 earnings per share for the current quarter, Zacks reports. Zero analysts have provided estimates for W&T Offshore’s earnings. W&T Offshore reported earnings per share of $0.16 in the same quarter last year, which would suggest a negative year over year growth rate of 25%. The firm is scheduled to issue its next earnings report on Wednesday, May 2nd.

On average, analysts expect that W&T Offshore will report full year earnings of $0.58 per share for the current fiscal year. For the next year, analysts forecast that the firm will report earnings of $0.80 per share. Zacks Investment Research’s earnings per share 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 issued its quarterly earnings data on Wednesday, February 28th. The oil and gas company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The firm had revenue of $129.10 million during the quarter. W&T Offshore had a negative return on equity of 13.99% and a net margin of 16.36%.



A number of equities analysts have recently weighed in on the company. Capital One Financial downgraded W&T Offshore from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 10th. ValuEngine downgraded W&T Offshore from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. Finally, Zacks Investment Research upgraded W&T Offshore from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a research note on Friday, March 2nd. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $2.88.

Institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new position in W&T Offshore in the third quarter valued at approximately $120,000. The Manufacturers Life Insurance Company lifted its stake in W&T Offshore by 782.6% in the second quarter. The Manufacturers Life Insurance Company now owns 82,579 shares of the oil and gas company’s stock valued at $162,000 after purchasing an additional 73,223 shares during the last quarter. Jefferies Group LLC purchased a new position in W&T Offshore in the fourth quarter valued at approximately $191,000. Jane Street Group LLC purchased a new position in W&T Offshore in the third quarter valued at approximately $225,000. Finally, Algert Global LLC purchased a new position in W&T Offshore in the fourth quarter valued at approximately $228,000. Institutional investors and hedge funds own 48.69% of the company’s stock.

WTI traded up $0.06 during midday trading on Friday, reaching $4.98. 1,681,553 shares of the company were exchanged, compared to its average volume of 2,439,836. The company has a debt-to-equity ratio of -1.69, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $689.89, a P/E ratio of 9.11 and a beta of 2.78. W&T Offshore has a one year low of $1.81 and a one year high of $5.34.

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About W&T Offshore

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.

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