W&T Offshore, Inc. (WTI) Expected to Announce Earnings of $0.15 Per Share

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Equities analysts expect W&T Offshore, Inc. (NYSE:WTI) to report earnings of $0.15 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for W&T Offshore’s earnings, with the highest EPS estimate coming in at $0.20 and the lowest estimate coming in at $0.11. W&T Offshore reported earnings of $0.19 per share in the same quarter last year, which would indicate a negative year over year growth rate of 21.1%. The company is expected to report its next earnings results on Wednesday, May 1st.

According to Zacks, analysts expect that W&T Offshore will report full-year earnings of $0.71 per share for the current financial year, with EPS estimates ranging from $0.34 to $1.56. For the next year, analysts forecast that the company will report earnings of $0.66 per share, with EPS estimates ranging from $0.26 to $0.88. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover W&T Offshore.

WTI has been the subject of several research analyst reports. ValuEngine upgraded W&T Offshore from a “strong sell” rating to a “sell” rating in a research report on Monday, January 7th. Stifel Nicolaus initiated coverage on W&T Offshore in a research report on Thursday, March 7th. They set a “buy” rating and a $10.00 price target for the company. Finally, Zacks Investment Research lowered W&T Offshore from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $8.25.

In other news, insider Shahid Ghauri bought 7,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $6.01 per share, for a total transaction of $42,070.00. Following the completion of the transaction, the insider now owns 8,000 shares of the company’s stock, valued at $48,080. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director B Frank Stanley bought 10,000 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were purchased at an average price of $6.51 per share, for a total transaction of $65,100.00. Following the transaction, the director now directly owns 172,063 shares of the company’s stock, valued at approximately $1,120,130.13. The disclosure for this purchase can be found here. 33.76% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its position in W&T Offshore by 2.5% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 89,400 shares of the oil and gas company’s stock valued at $368,000 after acquiring an additional 2,200 shares during the period. Legal & General Group Plc boosted its holdings in W&T Offshore by 22.9% in the 4th quarter. Legal & General Group Plc now owns 17,914 shares of the oil and gas company’s stock valued at $74,000 after purchasing an additional 3,335 shares in the last quarter. Cigna Investments Inc. New boosted its holdings in W&T Offshore by 38.5% in the 4th quarter. Cigna Investments Inc. New now owns 15,322 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 4,256 shares in the last quarter. American Century Companies Inc. boosted its holdings in W&T Offshore by 0.5% in the 4th quarter. American Century Companies Inc. now owns 1,090,851 shares of the oil and gas company’s stock valued at $4,494,000 after purchasing an additional 4,909 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in W&T Offshore by 33.9% in the 4th quarter. LPL Financial LLC now owns 19,476 shares of the oil and gas company’s stock valued at $80,000 after purchasing an additional 4,930 shares in the last quarter. Hedge funds and other institutional investors own 63.70% of the company’s stock.

WTI stock traded down $0.34 during midday trading on Friday, hitting $6.70. 3,952,293 shares of the company’s stock were exchanged, compared to its average volume of 3,456,440. W&T Offshore has a 1-year low of $3.62 and a 1-year high of $9.88. The stock has a market cap of $942.31 million, a price-to-earnings ratio of 6.63 and a beta of 2.88.

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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