Brokers Offer Predictions for W&T Offshore, Inc.’s Q3 2017 Earnings (WTI)
W&T Offshore, Inc. (NYSE:WTI) – Capital One Financial Corporation decreased their Q3 2017 earnings per share estimates for W&T Offshore in a report released on Wednesday. Capital One Financial Corporation analyst R. Tullis now forecasts that the oil and gas company will post earnings per share of $0.09 for the quarter, down from their previous estimate of $0.11. Capital One Financial Corporation also issued estimates for W&T Offshore’s Q4 2017 earnings at $0.09 EPS, FY2017 earnings at $0.56 EPS and FY2018 earnings at $0.18 EPS.
W&T Offshore (NYSE:WTI) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.21. The firm had revenue of $123.32 million for the quarter, compared to analyst estimates of $121.30 million. W&T Offshore had a negative return on equity of 6.08% and a net margin of 25.52%. The business’s revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.47) earnings per share. COPYRIGHT VIOLATION WARNING: This piece was first published by American Banking News and is the sole property of of American Banking News. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/09/08/brokers-offer-predictions-for-wt-offshore-inc-s-q3-2017-earnings-wti.html.
WTI has been the topic of several other reports. BidaskClub cut W&T Offshore from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 11th. ValuEngine raised W&T Offshore from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research raised W&T Offshore from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Barclays PLC reissued a “sell” rating and set a $1.50 price target on shares of W&T Offshore in a report on Friday, July 7th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. W&T Offshore has a consensus rating of “Hold” and a consensus price target of $2.58.
Shares of W&T Offshore (WTI) opened at 1.94 on Friday. The company has a market capitalization of $266.90 million, a price-to-earnings ratio of 2.08 and a beta of 2.41. W&T Offshore has a 52 week low of $1.31 and a 52 week high of $3.47. The firm has a 50 day moving average price of $1.93 and a 200 day moving average price of $2.22.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WTI. Nationwide Fund Advisors lifted its holdings in shares of W&T Offshore by 165.5% during the 1st quarter. Nationwide Fund Advisors now owns 59,735 shares of the oil and gas company’s stock valued at $165,000 after buying an additional 37,238 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of W&T Offshore by 5.6% during the 1st quarter. Bank of New York Mellon Corp now owns 151,848 shares of the oil and gas company’s stock valued at $420,000 after buying an additional 8,072 shares during the period. Engineers Gate Manager LP bought a new position in shares of W&T Offshore during the 1st quarter valued at $489,000. Quantitative Investment Management LLC bought a new position in shares of W&T Offshore during the 1st quarter valued at $775,000. Finally, Airain ltd bought a new position in shares of W&T Offshore during the 1st quarter valued at $245,000. 50.88% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Tracy W. Krohn purchased 271,444 shares of the stock in a transaction dated Thursday, August 31st. The shares were purchased at an average cost of $1.90 per share, with a total value of $515,743.60. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stuart B. Katz purchased 50,000 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were purchased at an average cost of $1.85 per share, for a total transaction of $92,500.00. Following the completion of the acquisition, the director now directly owns 205,113 shares in the company, valued at $379,459.05. The disclosure for this purchase can be found here. Insiders have bought a total of 453,578 shares of company stock worth $852,692 over the last three months. Insiders own 32.58% of the company’s stock.
W&T Offshore Company Profile
W&T Offshore, Inc is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. As of December 31, 2016, the Company had interests in offshore leases covering approximately 750,000 gross acres (450,000 net acres) spanning across the Outer Continental Shelf (OCS) off the coasts of Louisiana, Texas, Mississippi and Alabama.
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