Zacks: Analysts Anticipate W&T Offshore, Inc. (NYSE:WTI) to Announce $0.05 Earnings Per Share

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Brokerages expect W&T Offshore, Inc. (NYSE:WTI) to announce earnings of $0.05 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for W&T Offshore’s earnings, with the highest EPS estimate coming in at $0.05 and the lowest estimate coming in at $0.04. W&T Offshore reported earnings of $0.22 per share in the same quarter last year, which would indicate a negative year over year growth rate of 77.3%. The business is scheduled to issue its next quarterly earnings report on Wednesday, February 26th.

On average, analysts expect that W&T Offshore will report full-year earnings of ($0.05) per share for the current fiscal year, with EPS estimates ranging from ($0.12) to $0.03. For the next year, analysts anticipate that the business will report earnings of $0.06 per share, with EPS estimates ranging from ($0.02) to $0.24. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow W&T Offshore.

W&T Offshore (NYSE:WTI) last released its earnings results on Wednesday, October 30th. The oil and gas company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.08. The company had revenue of $132.20 million during the quarter, compared to the consensus estimate of $133.52 million. W&T Offshore had a negative return on equity of 29.02% and a net margin of 38.63%. W&T Offshore’s revenue was down 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS.

WTI has been the subject of several research reports. Zacks Investment Research raised W&T Offshore from a “hold” rating to a “buy” rating and set a $5.25 target price for the company in a research report on Monday, October 21st. Roth Capital set a $11.00 target price on W&T Offshore and gave the company a “buy” rating in a research report on Friday, August 16th. Stifel Nicolaus set a $10.00 target price on W&T Offshore and gave the company a “buy” rating in a research report on Monday, August 12th. Finally, ValuEngine raised W&T Offshore from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $8.75.

NYSE WTI traded down $0.01 during trading on Thursday, hitting $4.32. The stock had a trading volume of 1,765,643 shares, compared to its average volume of 2,545,894. The company has a market capitalization of $623.96 million, a PE ratio of 4.28 and a beta of 2.92. The firm has a 50 day moving average price of $4.26 and a 200 day moving average price of $4.60. W&T Offshore has a twelve month low of $3.62 and a twelve month high of $7.18.

In other news, insider David M. Bump sold 13,500 shares of W&T Offshore stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $4.31, for a total value of $58,185.00. Following the completion of the transaction, the insider now owns 41,219 shares in the company, valued at approximately $177,653.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tracy W. Krohn acquired 100,000 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $4.06 per share, with a total value of $406,000.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 132,563 shares of company stock valued at $541,288. 33.60% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital Impact Advisors LLC boosted its stake in shares of W&T Offshore by 43.9% in the 2nd quarter. Capital Impact Advisors LLC now owns 383,612 shares of the oil and gas company’s stock valued at $1,826,000 after buying an additional 116,991 shares during the period. Panagora Asset Management Inc. boosted its stake in shares of W&T Offshore by 9.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 857,952 shares of the oil and gas company’s stock valued at $4,255,000 after buying an additional 70,749 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of W&T Offshore by 9.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,335,635 shares of the oil and gas company’s stock valued at $25,398,000 after buying an additional 446,978 shares during the period. Aperio Group LLC boosted its stake in shares of W&T Offshore by 79.0% in the 2nd quarter. Aperio Group LLC now owns 24,978 shares of the oil and gas company’s stock valued at $124,000 after buying an additional 11,027 shares during the period. Finally, Denali Advisors LLC boosted its stake in shares of W&T Offshore by 587.2% in the 3rd quarter. Denali Advisors LLC now owns 98,145 shares of the oil and gas company’s stock valued at $429,000 after buying an additional 83,864 shares during the period. Institutional investors and hedge funds own 58.54% 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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