Analysts Expect W&T Offshore, Inc. (NYSE:WTI) Will Post Earnings of $0.20 Per Share

Equities research analysts expect W&T Offshore, Inc. (NYSE:WTI) to announce $0.20 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for W&T Offshore’s earnings, with estimates ranging from $0.09 to $0.46. W&T Offshore reported earnings of $0.30 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 33.3%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, October 30th.

According to Zacks, analysts expect that W&T Offshore will report full-year earnings of $0.29 per share for the current fiscal year, with EPS estimates ranging from ($0.06) to $0.93. For the next financial year, analysts anticipate that the business will report earnings of $0.41 per share, with EPS estimates ranging from $0.25 to $0.52. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for W&T Offshore.

W&T Offshore (NYSE:WTI) last posted its earnings results on Wednesday, July 31st. The oil and gas company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.16. The company had revenue of $134.70 million during the quarter, compared to analyst estimates of $126.50 million. W&T Offshore had a negative return on equity of 31.98% and a net margin of 31.72%. The business’s revenue was down 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 earnings per share.



Several equities analysts have recently issued reports on the company. Stifel Nicolaus set a $10.00 price objective on W&T Offshore and gave the stock a “buy” rating in a research report on Monday. Capital One Financial upgraded W&T Offshore from an “underweight” rating to an “equal weight” rating in a research report on Thursday, May 23rd. ValuEngine downgraded W&T Offshore from a “sell” rating to a “strong sell” rating in a research report on Friday, May 3rd. Zacks Investment Research downgraded W&T Offshore from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Seaport Global Securities reiterated a “buy” rating on shares of W&T Offshore in a research report on Friday, June 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. W&T Offshore currently has a consensus rating of “Hold” and an average target price of $8.75.

Shares of NYSE WTI traded down $0.16 during midday trading on Thursday, hitting $4.17. 2,049,078 shares of the company’s stock were exchanged, compared to its average volume of 2,505,700. The business’s 50 day moving average is $4.58. The stock has a market cap of $655.62 million, a price-to-earnings ratio of 4.10 and a beta of 2.99. W&T Offshore has a twelve month low of $3.62 and a twelve month high of $9.88.

In other news, CEO Tracy W. Krohn bought 15,000 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was purchased at an average cost of $4.65 per share, for a total transaction of $69,750.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Virginia Boulet bought 7,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was purchased at an average price of $4.34 per share, with a total value of $30,380.00. Following the completion of the transaction, the director now directly owns 215,373 shares of the company’s stock, valued at $934,718.82. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 151,350 shares of company stock valued at $689,142. Insiders own 33.60% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd lifted its position in W&T Offshore by 1,442.4% in the second quarter. Point72 Hong Kong Ltd now owns 9,825 shares of the oil and gas company’s stock worth $49,000 after purchasing an additional 9,188 shares during the period. Stone Ridge Asset Management LLC acquired a new position in shares of W&T Offshore during the 2nd quarter worth about $60,000. Meritage Portfolio Management increased its stake in shares of W&T Offshore by 35.2% during the 2nd quarter. Meritage Portfolio Management now owns 13,980 shares of the oil and gas company’s stock worth $69,000 after purchasing an additional 3,637 shares during the last quarter. Denali Advisors LLC increased its stake in shares of W&T Offshore by 4,858.7% during the 2nd quarter. Denali Advisors LLC now owns 14,281 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 13,993 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in shares of W&T Offshore during the 1st quarter worth about $114,000. Hedge funds and other institutional investors own 59.24% of the company’s stock.

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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Earnings History and Estimates for W&T Offshore (NYSE:WTI)

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