W&T Offshore, Inc. (NYSE:WTI) – Research analysts at Capital One Financial cut their FY2021 earnings per share estimates for shares of W&T Offshore in a research report issued to clients and investors on Tuesday, January 12th. Capital One Financial analyst R. Tullis now expects that the oil and gas company will post earnings of $0.10 per share for the year, down from their previous forecast of $0.26. Capital One Financial has a “Equal Weight” rating on the stock.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of W&T Offshore from a “hold” rating to a “strong-buy” rating and set a $2.50 price objective on the stock in a report on Tuesday, January 5th. ValuEngine raised shares of W&T Offshore from a “hold” rating to a “buy” rating in a report on Monday, November 2nd. Finally, BidaskClub cut shares of W&T Offshore from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $2.77.
W&T Offshore (NYSE:WTI) last issued its earnings results on Wednesday, November 4th. The oil and gas company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.10. The firm had revenue of $72.52 million for the quarter, compared to analysts’ expectations of $68.82 million. W&T Offshore had a net margin of 31.40% and a negative return on equity of 21.21%.
Hedge funds have recently modified their holdings of the business. Great West Life Assurance Co. Can grew its holdings in W&T Offshore by 71,644.0% in the third quarter. Great West Life Assurance Co. Can now owns 5,167,000 shares of the oil and gas company’s stock worth $665,000 after purchasing an additional 5,159,798 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of W&T Offshore by 374.8% during the second quarter. Goldman Sachs Group Inc. now owns 1,474,019 shares of the oil and gas company’s stock valued at $3,361,000 after buying an additional 1,163,550 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of W&T Offshore by 289.2% during the third quarter. GSA Capital Partners LLP now owns 594,818 shares of the oil and gas company’s stock valued at $1,071,000 after buying an additional 442,003 shares during the last quarter. BlackRock Inc. boosted its holdings in W&T Offshore by 5.9% in the third quarter. BlackRock Inc. now owns 7,303,472 shares of the oil and gas company’s stock worth $13,147,000 after purchasing an additional 404,367 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in W&T Offshore by 448.7% in the second quarter. Jane Street Group LLC now owns 309,886 shares of the oil and gas company’s stock worth $707,000 after purchasing an additional 253,410 shares during the last quarter. 36.60% of the stock is currently owned by hedge funds and other institutional investors.
About W&T Offshore
W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of 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 51 offshore fields in federal and state waters.
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