Zacks: Brokerages Anticipate W&T Offshore, Inc. (NYSE:WTI) Will Announce Earnings of $0.07 Per Share

Equities research analysts expect W&T Offshore, Inc. (NYSE:WTI) to post earnings of $0.07 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for W&T Offshore’s earnings. The lowest EPS estimate is ($0.02) and the highest is $0.16. W&T Offshore posted earnings of ($0.14) per share in the same quarter last year, which suggests a positive year over year growth rate of 150%. The firm is expected to announce its next earnings results on Wednesday, November 3rd.

According to Zacks, analysts expect that W&T Offshore will report full-year earnings of $0.19 per share for the current fiscal year. For the next financial year, analysts anticipate that the company will report earnings of $0.84 per share, with EPS estimates ranging from $0.70 to $0.98. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for W&T Offshore.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Tuesday, August 3rd. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.07). The firm had revenue of $132.83 million for the quarter, compared to analysts’ expectations of $122.04 million.

A number of research firms recently weighed in on WTI. Roth Capital restated a “buy” rating and issued a $5.50 target price (up previously from $4.50) on shares of W&T Offshore in a report on Monday, July 26th. Zacks Investment Research raised shares of W&T Offshore from a “hold” rating to a “strong-buy” rating and set a $4.25 price objective for the company in a research report on Tuesday, July 20th.

Shares of WTI traded down $0.30 on Friday, reaching $4.08. The company’s stock had a trading volume of 170,771 shares, compared to its average volume of 3,205,827. W&T Offshore has a twelve month low of $1.35 and a twelve month high of $5.14. The stock has a market capitalization of $580.86 million, a PE ratio of -7.88 and a beta of 3.22. The firm has a fifty day moving average of $3.41 and a 200-day moving average of $3.75.

In related news, Director Virginia Boulet bought 14,000 shares of W&T Offshore stock in a transaction dated Thursday, August 5th. The stock was purchased at an average cost of $3.24 per share, with a total value of $45,360.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 34.65% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in WTI. Goldman Sachs Group Inc. lifted its stake in W&T Offshore by 47.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 858,516 shares of the oil and gas company’s stock worth $3,082,000 after purchasing an additional 276,794 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new stake in shares of W&T Offshore during the 1st quarter valued at $47,000. Walleye Trading LLC purchased a new stake in shares of W&T Offshore during the 1st quarter valued at $79,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of W&T Offshore during the 2nd quarter valued at $55,000. Finally, Russell Investments Group Ltd. raised its position in shares of W&T Offshore by 136.5% during the 1st quarter. Russell Investments Group Ltd. now owns 165,536 shares of the oil and gas company’s stock valued at $594,000 after buying an additional 95,536 shares in the last quarter. 41.75% of the stock is owned by hedge funds and other institutional investors.

About W&T Offshore

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.

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