Brokerages forecast that W&T Offshore, Inc. (NYSE:WTI) will report sales of $114.70 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for W&T Offshore’s earnings. The lowest sales estimate is $113.39 million and the highest is $116.00 million. W&T Offshore reported sales of $124.13 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 7.6%. The firm is expected to issue its next quarterly earnings results on Monday, June 28th.
According to Zacks, analysts expect that W&T Offshore will report full year sales of $499.82 million for the current year, with estimates ranging from $483.00 million to $516.63 million. For the next financial year, analysts expect that the business will report sales of $481.05 million, with estimates ranging from $481.00 million to $481.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow W&T Offshore.
W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Tuesday, March 2nd. The oil and gas company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.08. W&T Offshore had a net margin of 31.40% and a negative return on equity of 21.21%. The company had revenue of $94.75 million for the quarter, compared to the consensus estimate of $82.11 million.
Hedge funds and other institutional investors have recently modified their holdings of the stock. A.R.T. Advisors LLC bought a new position in W&T Offshore in the 3rd quarter valued at approximately $27,000. ProShare Advisors LLC raised its holdings in W&T Offshore by 80.8% in the 4th quarter. ProShare Advisors LLC now owns 20,888 shares of the oil and gas company’s stock valued at $45,000 after buying an additional 9,334 shares during the last quarter. SG Americas Securities LLC bought a new position in W&T Offshore in the 4th quarter valued at approximately $46,000. Squarepoint Ops LLC bought a new position in W&T Offshore during the 3rd quarter worth approximately $39,000. Finally, Junson Asset Management Hong Kong Ltd bought a new position in W&T Offshore during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 36.60% of the company’s stock.
Shares of WTI traded down $0.08 during mid-day trading on Monday, reaching $3.52. The company had a trading volume of 51,758 shares, compared to its average volume of 4,475,959. The company’s 50 day simple moving average is $3.67 and its 200 day simple moving average is $2.50. W&T Offshore has a 1-year low of $1.35 and a 1-year high of $5.00. The company has a market capitalization of $500.91 million, a price-to-earnings ratio of 3.44 and a beta of 3.16.
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 interest in approximately 43 offshore fields in federal and state waters.
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