Analysts expect that W&T Offshore, Inc. (NYSE:WTI) will announce sales of $114.70 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for W&T Offshore’s earnings, with estimates ranging from $113.39 million to $116.00 million. W&T Offshore posted sales of $124.13 million in the same quarter last year, which suggests a negative year-over-year growth rate of 7.6%. The company is scheduled to issue its next earnings results on Monday, June 28th.
On average, analysts expect that W&T Offshore will report full-year sales of $499.82 million for the current fiscal year, with estimates ranging from $483.00 million to $516.63 million. For the next financial year, analysts forecast that the company will report sales of $481.05 million, with estimates ranging from $481.00 million to $481.10 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow W&T Offshore.
W&T Offshore (NYSE:WTI) last released its earnings results on Tuesday, March 2nd. The oil and gas company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.08. The firm had revenue of $94.75 million during the quarter, compared to the consensus estimate of $82.11 million. W&T Offshore had a negative return on equity of 21.21% and a net margin of 31.40%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP raised its stake in W&T Offshore by 54.4% during the 1st quarter. First Trust Advisors LP now owns 504,062 shares of the oil and gas company’s stock valued at $3,478,000 after purchasing an additional 177,621 shares during the period. California Public Employees Retirement System raised its stake in W&T Offshore by 3.8% during the 3rd quarter. California Public Employees Retirement System now owns 216,619 shares of the oil and gas company’s stock valued at $390,000 after purchasing an additional 7,900 shares during the period. BlackRock Inc. raised its stake in W&T Offshore by 5.9% during the 3rd quarter. BlackRock Inc. now owns 7,303,472 shares of the oil and gas company’s stock valued at $13,147,000 after purchasing an additional 404,367 shares during the period. Acadian Asset Management LLC acquired a new stake in W&T Offshore during the 3rd quarter valued at $63,000. Finally, State Street Corp raised its stake in W&T Offshore by 0.6% during the 3rd quarter. State Street Corp now owns 1,989,873 shares of the oil and gas company’s stock valued at $3,582,000 after purchasing an additional 12,193 shares during the period. 36.60% of the stock is currently owned by institutional investors.
WTI traded down $0.08 during trading on Monday, reaching $3.52. The stock had a trading volume of 51,758 shares, compared to its average volume of 4,475,959. The firm has a market capitalization of $500.91 million, a price-to-earnings ratio of 3.44 and a beta of 3.16. W&T Offshore has a 1-year low of $1.35 and a 1-year high of $5.00. The stock has a 50 day moving average of $3.67 and a two-hundred day moving average of $2.50.
About W&T Offshore
W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interest in approximately 43 offshore fields in federal and state waters.
Read More: How to identify percentage decliners
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for W&T Offshore Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W&T Offshore and related companies with MarketBeat.com's FREE daily email newsletter.