W&T Offshore, Inc. (NYSE:WTI) – Capital One Financial decreased their FY2018 earnings per share estimates for shares of W&T Offshore in a report released on Monday. Capital One Financial analyst R. Tullis now forecasts that the oil and gas company will earn $0.58 per share for the year, down from their previous estimate of $0.60. Capital One Financial currently has a “Equal Weight” rating on the stock. Capital One Financial also issued estimates for W&T Offshore’s FY2019 earnings at $0.80 EPS.
Several other equities analysts have also recently weighed in on the company. Zacks Investment Research upgraded W&T Offshore from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a report on Friday, March 2nd. ValuEngine cut W&T Offshore from a “hold” rating to a “sell” rating in a report on Wednesday, February 28th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. W&T Offshore has a consensus rating of “Hold” and an average price target of $2.88.
W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Wednesday, February 28th. The oil and gas company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.02. The company had revenue of $129.10 million during the quarter. W&T Offshore had a negative return on equity of 13.99% and a net margin of 16.36%.
A number of institutional investors have recently bought and sold shares of WTI. TIAA CREF Investment Management LLC grew its holdings in W&T Offshore by 314.9% during the fourth quarter. TIAA CREF Investment Management LLC now owns 2,769,368 shares of the oil and gas company’s stock worth $9,167,000 after purchasing an additional 2,101,835 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in W&T Offshore during the fourth quarter worth about $4,991,000. JPMorgan Chase & Co. grew its holdings in W&T Offshore by 29.7% during the third quarter. JPMorgan Chase & Co. now owns 4,090,772 shares of the oil and gas company’s stock worth $14,318,000 after purchasing an additional 937,872 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in W&T Offshore by 3,320.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 963,567 shares of the oil and gas company’s stock worth $3,189,000 after purchasing an additional 935,398 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of W&T Offshore by 58.3% during the fourth quarter. Geode Capital Management LLC now owns 2,536,243 shares of the oil and gas company’s stock worth $8,394,000 after acquiring an additional 934,315 shares during the period. Institutional investors and hedge funds own 48.72% of the company’s stock.
In related news, SVP Stephen L. Schroeder sold 18,762 shares of W&T Offshore stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $2.81, for a total transaction of $52,721.22. Following the completion of the transaction, the senior vice president now owns 366,592 shares in the company, valued at $1,030,123.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John D. Gibbons sold 29,000 shares of W&T Offshore stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $2.79, for a total value of $80,910.00. Following the transaction, the insider now owns 476,030 shares of the company’s stock, valued at approximately $1,328,123.70. The disclosure for this sale can be found here. Company insiders own 32.58% of the company’s stock.
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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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