W&T Offshore, Inc. (WTI) Expected to Announce Quarterly Sales of $151.80 Million

Equities analysts predict that W&T Offshore, Inc. (NYSE:WTI) will report $151.80 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for W&T Offshore’s earnings. The highest sales estimate is $158.30 million and the lowest is $145.30 million. W&T Offshore reported sales of $129.10 million during the same quarter last year, which would suggest a positive year over year growth rate of 17.6%. The business is scheduled to report its next quarterly earnings report on Wednesday, February 27th.

On average, analysts expect that W&T Offshore will report full year sales of $587.90 million for the current fiscal year, with estimates ranging from $582.59 million to $593.20 million. For the next fiscal year, analysts anticipate that the firm will post sales of $593.27 million, with estimates ranging from $585.64 million to $600.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow W&T Offshore.

W&T Offshore (NYSE:WTI) last posted its earnings results on Wednesday, October 31st. The oil and gas company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. W&T Offshore had a negative return on equity of 26.51% and a net margin of 23.54%. The firm had revenue of $153.50 million for the quarter, compared to analyst estimates of $146.97 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. W&T Offshore’s revenue for the quarter was up 39.2% compared to the same quarter last year.

A number of analysts recently issued reports on the stock. Roth Capital upgraded shares of W&T Offshore from a “neutral” rating to a “buy” rating and raised their target price for the stock from $8.50 to $10.75 in a research report on Monday, October 15th. KLR Group restated a “sell” rating and set a $6.25 target price on shares of W&T Offshore in a research report on Monday, August 20th. Zacks Investment Research lowered shares of W&T Offshore from a “buy” rating to a “hold” rating in a research report on Monday, October 22nd. Finally, ValuEngine lowered shares of W&T Offshore from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. Three investment analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $7.92.

NYSE WTI traded up $0.03 during trading hours on Friday, hitting $6.34. 39,497 shares of the stock were exchanged, compared to its average volume of 2,996,904. W&T Offshore has a 12-month low of $2.60 and a 12-month high of $9.88. The stock has a market capitalization of $808.48 million, a P/E ratio of 11.34 and a beta of 2.78.

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates acquired a new position in shares of W&T Offshore in the 2nd quarter valued at $101,000. Paloma Partners Management Co acquired a new position in shares of W&T Offshore in the 3rd quarter valued at $102,000. LPL Financial LLC acquired a new position in shares of W&T Offshore in the 3rd quarter valued at $140,000. Teacher Retirement System of Texas acquired a new position in shares of W&T Offshore in the 2nd quarter valued at $141,000. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of W&T Offshore in the 2nd quarter valued at $152,000. Institutional investors own 66.27% of the company’s stock.

W&T Offshore Company Profile

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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Earnings History and Estimates for W&T Offshore (NYSE:WTI)

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