Equities research analysts expect W&T Offshore, Inc. (NYSE:WTI) to report sales of $156.88 million for the current quarter, Zacks reports. Two analysts have made estimates for W&T Offshore’s earnings. The lowest sales estimate is $155.70 million and the highest is $158.05 million. W&T Offshore reported sales of $110.28 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 42.3%. The business is expected to issue its next earnings results on Wednesday, November 7th.
According to Zacks, analysts expect that W&T Offshore will report full-year sales of $596.30 million for the current year, with estimates ranging from $595.30 million to $597.30 million. For the next fiscal year, analysts forecast that the company will report sales of $613.95 million per share, with estimates ranging from $589.80 million to $638.10 million. Zacks’ sales averages are an average based on a survey of analysts that follow W&T Offshore.
W&T Offshore (NYSE:WTI) last released its earnings results on Wednesday, August 1st. The oil and gas company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. W&T Offshore had a negative return on equity of 18.00% and a net margin of 16.40%. The firm had revenue of $149.60 million for the quarter, compared to analysts’ expectations of $150.66 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis.
A number of equities research analysts have recently commented on WTI shares. Seaport Global Securities reissued a “buy” rating on shares of W&T Offshore in a research note on Wednesday, July 25th. Zacks Investment Research raised W&T Offshore from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Tuesday, July 17th. Roth Capital started coverage on W&T Offshore in a research note on Wednesday, May 23rd. They issued a “neutral” rating and a $8.75 target price on the stock. KLR Group reissued a “sell” rating and issued a $6.25 target price on shares of W&T Offshore in a research note on Monday, August 20th. Finally, Capital One Financial cut W&T Offshore from an “equal weight” rating to an “underweight” rating in a research note on Thursday, May 31st. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. W&T Offshore currently has a consensus rating of “Hold” and a consensus target price of $8.00.
In other W&T Offshore news, Director Virginia Boulet acquired 5,950 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The shares were bought at an average cost of $6.83 per share, with a total value of $40,638.50. Following the completion of the transaction, the director now directly owns 195,783 shares of the company’s stock, valued at approximately $1,337,197.89. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 32.58% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates purchased a new stake in shares of W&T Offshore during the second quarter valued at $101,000. Teacher Retirement System of Texas purchased a new stake in shares of W&T Offshore during the second quarter valued at $141,000. Thompson Davis & CO. Inc. purchased a new stake in shares of W&T Offshore during the second quarter valued at $152,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of W&T Offshore during the second quarter valued at $170,000. Finally, Globeflex Capital L P purchased a new stake in shares of W&T Offshore during the second quarter valued at $172,000. 57.62% of the stock is currently owned by institutional investors.
Shares of NYSE WTI traded up $0.17 during trading on Friday, reaching $6.90. The company had a trading volume of 2,391,500 shares, compared to its average volume of 3,293,626. W&T Offshore has a 12-month low of $1.86 and a 12-month high of $9.12. The stock has a market cap of $947.64 million, a P/E ratio of 12.11 and a beta of 2.65. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of -1.50.
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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