W&T Offshore, Inc. (NYSE:WTI) Expected to Announce Quarterly Sales of $147.96 Million

Equities analysts expect W&T Offshore, Inc. (NYSE:WTI) to report sales of $147.96 million for the current quarter, according to Zacks. Two analysts have issued estimates for W&T Offshore’s earnings, with the highest sales estimate coming in at $166.00 million and the lowest estimate coming in at $129.91 million. W&T Offshore posted sales of $94.75 million in the same quarter last year, which indicates a positive year over year growth rate of 56.2%. The company is scheduled to announce its next earnings report on Wednesday, March 2nd.

According to Zacks, analysts expect that W&T Offshore will report full-year sales of $528.64 million for the current fiscal year, with estimates ranging from $499.28 million to $558.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $615.60 million, with estimates ranging from $593.20 million to $638.00 million. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for W&T Offshore.

Separately, Stifel Nicolaus upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating and increased their price objective for the stock from $5.10 to $6.90 in a research report on Wednesday, October 20th.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its stake in shares of W&T Offshore by 47.6% in the first quarter. Goldman Sachs Group Inc. now owns 858,516 shares of the oil and gas company’s stock valued at $3,082,000 after buying an additional 276,794 shares in the last quarter. Deprince Race & Zollo Inc. bought a new position in shares of W&T Offshore in the first quarter valued at $47,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of W&T Offshore in the second quarter valued at $55,000. Kylin Management LLC bought a new position in shares of W&T Offshore in the second quarter valued at $4,365,000. Finally, Geode Capital Management LLC lifted its stake in shares of W&T Offshore by 31.4% in the second quarter. Geode Capital Management LLC now owns 1,967,799 shares of the oil and gas company’s stock valued at $9,543,000 after buying an additional 470,727 shares in the last quarter. 41.73% of the stock is currently owned by institutional investors and hedge funds.

Shares of WTI traded down $0.01 during trading hours on Thursday, hitting $3.71. 1,778,054 shares of the stock were exchanged, compared to its average volume of 3,158,090. W&T Offshore has a fifty-two week low of $1.94 and a fifty-two week high of $5.14. The business has a 50-day moving average of $3.99 and a 200-day moving average of $3.90. The firm has a market capitalization of $528.18 million, a P/E ratio of -5.30 and a beta of 2.98.

About W&T Offshore

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.

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