W&T Offshore, Inc. (WTI) to Release Earnings on Tuesday
W&T Offshore, Inc. (NYSE:WTI) will be releasing its earnings data after the market closes on Tuesday, October 31st. Analysts expect W&T Offshore to post earnings of ($0.02) per share for the quarter.
W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.21. W&T Offshore had a negative return on equity of 6.08% and a net margin of 25.52%. The company had revenue of $123.32 million during the quarter, compared to analyst estimates of $121.30 million. During the same period in the prior year, the company earned ($0.47) earnings per share. The firm’s revenue was up 23.7% on a year-over-year basis. On average, analysts expect W&T Offshore to post $0.56 EPS for the current fiscal year and $0.18 EPS for the next fiscal year.
Shares of W&T Offshore, Inc. (WTI) traded up 2.01% during trading on Tuesday, reaching $3.04. The company had a trading volume of 357,081 shares. The company has a market capitalization of $418.23 million, a PE ratio of 3.26 and a beta of 2.49. The stock’s 50-day moving average price is $2.80 and its 200-day moving average price is $2.24. W&T Offshore, Inc. has a 52 week low of $1.31 and a 52 week high of $3.69.
In other news, CEO Tracy W. Krohn acquired 918,763 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was bought at an average cost of $2.08 per share, for a total transaction of $1,911,027.04. Following the purchase, the chief executive officer now owns 44,532,480 shares in the company, valued at $92,627,558.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stuart B. Katz acquired 50,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were purchased at an average price of $1.85 per share, with a total value of $92,500.00. Following the completion of the purchase, the director now owns 205,113 shares in the company, valued at approximately $379,459.05. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 1,388,841 shares of company stock valued at $2,804,309. 32.58% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in shares of W&T Offshore by 782.6% in the second quarter. The Manufacturers Life Insurance Company now owns 82,579 shares of the oil and gas company’s stock valued at $162,000 after purchasing an additional 73,223 shares in the last quarter. California State Teachers Retirement System grew its position in shares of W&T Offshore by 132.2% in the second quarter. California State Teachers Retirement System now owns 166,175 shares of the oil and gas company’s stock valued at $326,000 after purchasing an additional 94,600 shares in the last quarter. Finally, State Street Corp grew its position in shares of W&T Offshore by 103.7% in the second quarter. State Street Corp now owns 1,265,497 shares of the oil and gas company’s stock valued at $2,481,000 after purchasing an additional 644,138 shares in the last quarter. Institutional investors and hedge funds own 49.10% of the company’s stock.
Several research firms have commented on WTI. Zacks Investment Research upgraded W&T Offshore from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. ValuEngine lowered W&T Offshore from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Barclays PLC reiterated a “sell” rating and set a $1.50 price objective on shares of W&T Offshore in a research note on Friday, July 7th. Finally, BidaskClub lowered W&T Offshore from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 11th. Two analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $2.50.
About W&T Offshore
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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