Equities analysts expect that W&T Offshore, Inc. (NYSE:WTI) will report sales of $156.88 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for W&T Offshore’s earnings, with estimates ranging from $155.70 million to $158.05 million. W&T Offshore posted sales of $110.28 million in the same quarter last year, which suggests a positive year-over-year growth rate of 42.3%. The company is expected to announce its next earnings report 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 fiscal year, with estimates ranging from $595.30 million to $597.30 million. For the next year, analysts expect that the business will report sales of $613.95 million per share, with estimates ranging from $589.80 million to $638.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover W&T Offshore.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 last year, the business posted $0.22 earnings per share. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis.

Several equities analysts recently issued reports on the company. Seaport Global Securities restated a “buy” rating on shares of W&T Offshore in a research note on Wednesday, July 25th. Zacks Investment Research upgraded W&T Offshore from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a research note on Tuesday, July 17th. Capital One Financial cut W&T Offshore from an “equal weight” rating to an “underweight” rating in a research note on Thursday, May 31st. Roth Capital assumed coverage on W&T Offshore in a research note on Wednesday, May 23rd. They set a “neutral” rating and a $8.75 price objective on the stock. Finally, KLR Group cut W&T Offshore from a “hold” rating to a “sell” rating and set a $6.00 price objective on the stock. in a research note on Tuesday, May 15th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $7.92.

In related news, Director Virginia Boulet bought 5,950 shares of the company’s stock in a transaction on Friday, June 1st. The shares were purchased 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 $1,337,197.89. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 33.76% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Teacher Retirement System of Texas acquired a new stake in W&T Offshore in the second quarter worth $141,000. Thompson Davis & CO. Inc. acquired a new stake in W&T Offshore in the second quarter worth $152,000. Campbell & CO Investment Adviser LLC acquired a new stake in W&T Offshore in the second quarter worth $170,000. Globeflex Capital L P acquired a new stake in W&T Offshore in the second quarter worth $172,000. Finally, Meeder Asset Management Inc. increased its position in W&T Offshore by 184.4% in the second quarter. Meeder Asset Management Inc. now owns 25,304 shares of the oil and gas company’s stock worth $181,000 after buying an additional 16,408 shares during the period. 51.05% of the stock is currently owned by hedge funds and other institutional investors.

WTI traded down $0.27 during trading hours on Wednesday, hitting $6.28. 4,269,200 shares of the stock were exchanged, compared to its average volume of 3,290,761. W&T Offshore has a 12 month low of $1.83 and a 12 month high of $9.12. The stock has a market capitalization of $911.46 million, a PE ratio of 11.20 and a beta of 2.65. The company has a debt-to-equity ratio of -1.50, a current ratio of 0.84 and a quick ratio of 0.84.

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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