$151.01 Million in Sales Expected for W&T Offshore, Inc. (NYSE:WTI) This Quarter

Equities research analysts expect that W&T Offshore, Inc. (NYSE:WTI) will announce $151.01 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for W&T Offshore’s earnings, with estimates ranging from $147.40 million to $155.54 million. W&T Offshore posted sales of $143.42 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5.3%. The business is scheduled to issue its next quarterly earnings results on Wednesday, February 26th.

According to Zacks, analysts expect that W&T Offshore will report full-year sales of $532.55 million for the current financial year, with estimates ranging from $528.70 million to $538.54 million. For the next fiscal year, analysts expect that the business will report sales of $596.27 million, with estimates ranging from $573.00 million to $617.02 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for W&T Offshore.

W&T Offshore (NYSE:WTI) last released its quarterly earnings results on Wednesday, October 30th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. W&T Offshore had a net margin of 38.63% and a negative return on equity of 29.02%. The business had revenue of $132.20 million for the quarter, compared to the consensus estimate of $133.52 million. During the same period in the previous year, the firm earned $0.30 EPS. The business’s revenue was down 13.9% on a year-over-year basis.

Several research analysts have recently issued reports on WTI shares. ValuEngine raised W&T Offshore from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a research note on Monday, October 21st. Roth Capital set a $11.00 price target on W&T Offshore and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus set a $10.00 price objective on W&T Offshore and gave the company a “buy” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $8.75.

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd lifted its position in shares of W&T Offshore by 1,442.4% in the second quarter. Point72 Hong Kong Ltd now owns 9,825 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 9,188 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new position in shares of W&T Offshore in the 2nd quarter worth $60,000. Tower Research Capital LLC TRC lifted its stake in shares of W&T Offshore by 907.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 12,860 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 11,583 shares in the last quarter. Meritage Portfolio Management grew its stake in W&T Offshore by 35.2% during the second quarter. Meritage Portfolio Management now owns 13,980 shares of the oil and gas company’s stock worth $69,000 after buying an additional 3,637 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in W&T Offshore during the 3rd quarter worth $70,000. Institutional investors own 59.32% of the company’s stock.

Shares of NYSE WTI traded down $0.07 during mid-day trading on Monday, hitting $4.35. The company had a trading volume of 46,536 shares, compared to its average volume of 2,552,570. The business’s 50-day simple moving average is $4.25 and its 200 day simple moving average is $4.44. The company has a market capitalization of $623.26 million, a PE ratio of 4.31 and a beta of 2.97. W&T Offshore has a 1-year low of $3.62 and a 1-year high of $7.18.

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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