W&T Offshore (NYSE:WTI) Releases Earnings Results, Beats Expectations By $0.03 EPS

W&T Offshore (NYSE:WTI – Get Rating) released its earnings results on Tuesday. The oil and gas company reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.03, MarketWatch Earnings reports. The business had revenue of $191.00 million during the quarter, compared to the consensus estimate of $159.49 million. W&T Offshore had a negative return on equity of 13.06% and a negative net margin of 7.43%. The business’s revenue for the quarter was up 52.1% on a year-over-year basis. During the same period last year, the business posted $0.11 earnings per share.

WTI stock opened at $4.95 on Wednesday. The firm has a 50 day moving average of $4.66 and a 200-day moving average of $4.19. The firm has a market capitalization of $707.91 million, a P/E ratio of -16.50 and a beta of 2.22. W&T Offshore has a 12 month low of $2.64 and a 12 month high of $6.68.

In other W&T Offshore news, insider Shahid Ghauri sold 116,411 shares of the stock in a transaction that occurred on Monday, March 21st. The shares were sold at an average price of $4.50, for a total value of $523,849.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 34.40% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC grew its stake in W&T Offshore by 29.9% in the 4th quarter. Barclays PLC now owns 219,513 shares of the oil and gas company’s stock worth $709,000 after buying an additional 50,562 shares in the last quarter. BlackRock Inc. increased its stake in W&T Offshore by 4.4% in the fourth quarter. BlackRock Inc. now owns 10,744,006 shares of the oil and gas company’s stock valued at $34,703,000 after acquiring an additional 453,360 shares during the last quarter. Goldman Sachs Group Inc. raised its position in W&T Offshore by 14.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,180,333 shares of the oil and gas company’s stock valued at $7,043,000 after purchasing an additional 278,610 shares in the last quarter. Virtu Financial LLC bought a new stake in W&T Offshore during the fourth quarter worth about $41,000. Finally, Deutsche Bank AG increased its position in shares of W&T Offshore by 1.1% during the 4th quarter. Deutsche Bank AG now owns 285,218 shares of the oil and gas company’s stock valued at $921,000 after purchasing an additional 3,023 shares during the last quarter. 36.85% of the stock is owned by institutional investors.

WTI has been the topic of a number of research reports. Zacks Investment Research upgraded W&T Offshore from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research note on Monday, January 24th. Roth Capital reaffirmed a “buy” rating on shares of W&T Offshore in a report on Tuesday, March 1st. Finally, StockNews.com cut shares of W&T Offshore from a “strong-buy” rating to a “buy” rating in a report on Tuesday, April 19th.

W&T Offshore Company Profile (Get Rating)

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 41 offshore fields in federal and state waters.

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