$152.37 Million in Sales Expected for W&T Offshore, Inc. (NYSE:WTI) This Quarter

Analysts expect W&T Offshore, Inc. (NYSE:WTI) to report sales of $152.37 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for W&T Offshore’s earnings. The highest sales estimate is $155.54 million and the lowest is $149.20 million. W&T Offshore reported sales of $143.42 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.2%. The company is scheduled to issue its next quarterly earnings results on Wednesday, February 26th.

On average, analysts expect that W&T Offshore will report full year sales of $535.37 million for the current year, with estimates ranging from $532.20 million to $538.54 million. For the next fiscal year, analysts expect that the company will report sales of $626.11 million, with estimates ranging from $617.02 million to $635.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow W&T Offshore.

W&T Offshore (NYSE:WTI) last released its quarterly earnings results on Wednesday, October 30th. The oil and gas company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 38.63% and a negative return on equity of 29.02%. The firm’s quarterly revenue was down 13.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.30 earnings per share.

WTI has been the subject of several recent research reports. Zacks Investment Research downgraded shares of W&T Offshore from a “strong-buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research report on Thursday, January 2nd. ValuEngine cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a research note on Saturday, December 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. W&T Offshore presently has a consensus rating of “Hold” and a consensus target price of $9.33.

WTI stock traded down $0.13 during midday trading on Friday, hitting $5.17. The stock had a trading volume of 2,187,355 shares, compared to its average volume of 2,291,428. The firm has a market cap of $727.37 million, a P/E ratio of 3.69 and a beta of 3.03. W&T Offshore has a 1-year low of $3.75 and a 1-year high of $7.18. The business has a fifty day moving average price of $5.08 and a two-hundred day moving average price of $4.59.

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd lifted its position in shares of W&T Offshore by 1,442.4% in the 2nd 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. Tower Research Capital LLC TRC grew its position in W&T Offshore by 907.0% during the third quarter. Tower Research Capital LLC TRC now owns 12,860 shares of the oil and gas company’s stock valued at $57,000 after buying an additional 11,583 shares during the period. SG Americas Securities LLC bought a new position in shares of W&T Offshore in the third quarter worth approximately $70,000. Point72 Asset Management L.P. lifted its holdings in shares of W&T Offshore by 17.3% in the second quarter. Point72 Asset Management L.P. now owns 21,787 shares of the oil and gas company’s stock worth $108,000 after buying an additional 3,215 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of W&T Offshore by 17.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 20,040 shares of the oil and gas company’s stock worth $111,000 after buying an additional 2,940 shares in the last quarter. 59.63% of the stock is currently owned by institutional investors.

W&T Offshore Company Profile

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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