Equities research analysts expect W&T Offshore, Inc. (NYSE:WTI) to report $0.20 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for W&T Offshore’s earnings. The highest EPS estimate is $0.27 and the lowest is $0.16. W&T Offshore posted earnings of $0.04 per share during the same quarter last year, which would indicate a positive year over year growth rate of 400%. The firm is scheduled to issue its next earnings results on Wednesday, November 7th.
On average, analysts expect that W&T Offshore will report full year earnings of $0.90 per share for the current year, with EPS estimates ranging from $0.87 to $0.93. For the next financial year, analysts anticipate that the business will report earnings of $0.73 per share, with EPS estimates ranging from $0.69 to $0.76. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for W&T Offshore.
W&T Offshore (NYSE:WTI) last posted its earnings results on Wednesday, August 1st. The oil and gas company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The firm had revenue of $149.60 million for the quarter, compared to analyst estimates of $150.66 million. W&T Offshore had a negative return on equity of 18.00% and a net margin of 16.40%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share.
WTI has been the topic of several recent analyst reports. Seaport Global Securities reiterated a “buy” rating on shares of W&T Offshore in a report on Wednesday, July 25th. Zacks Investment Research upgraded W&T Offshore from a “hold” rating to a “strong-buy” rating and set a $9.25 target price on the stock in a report on Thursday, September 27th. Finally, KLR Group reiterated a “sell” rating and set a $6.25 target price on shares of W&T Offshore in a report on Monday, August 20th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $8.08.
A number of hedge funds have recently bought and sold shares of WTI. Renaissance Technologies LLC raised its stake in shares of W&T Offshore by 191.7% in the 2nd quarter. Renaissance Technologies LLC now owns 4,917,100 shares of the oil and gas company’s stock valued at $35,157,000 after purchasing an additional 3,231,300 shares during the period. LSV Asset Management raised its stake in shares of W&T Offshore by 750.9% in the 2nd quarter. LSV Asset Management now owns 3,634,000 shares of the oil and gas company’s stock valued at $25,983,000 after purchasing an additional 3,206,900 shares during the period. Bank of America Corp DE raised its stake in shares of W&T Offshore by 941.9% in the 2nd quarter. Bank of America Corp DE now owns 1,111,047 shares of the oil and gas company’s stock valued at $7,944,000 after purchasing an additional 1,004,406 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of W&T Offshore by 34.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,628,768 shares of the oil and gas company’s stock valued at $16,075,000 after purchasing an additional 932,107 shares during the period. Finally, Foundry Partners LLC acquired a new stake in shares of W&T Offshore in the 1st quarter valued at about $3,191,000. Hedge funds and other institutional investors own 57.59% of the company’s stock.
WTI stock opened at $7.38 on Friday. The company has a debt-to-equity ratio of -1.50, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 13.18 and a beta of 2.55. W&T Offshore has a 1-year low of $2.60 and a 1-year high of $9.88.
About W&T Offshore
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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