Equities research analysts expect that W&T Offshore, Inc. (NYSE:WTI – Get Rating) will announce sales of $200.30 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for W&T Offshore’s earnings, with estimates ranging from $160.30 million to $240.30 million. W&T Offshore reported sales of $132.83 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 50.8%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that W&T Offshore will report full year sales of $810.78 million for the current fiscal year, with estimates ranging from $675.57 million to $946.00 million. For the next fiscal year, analysts anticipate that the business will post sales of $870.40 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover W&T Offshore.
W&T Offshore (NYSE:WTI – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The oil and gas company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. The business had revenue of $191.00 million during the quarter, compared to analyst estimates of $159.49 million. W&T Offshore had a negative net margin of 6.93% and a negative return on equity of 18.05%. The company’s quarterly revenue was up 52.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS.
NYSE WTI opened at $5.58 on Friday. The firm has a market cap of $798.01 million, a PE ratio of -18.00 and a beta of 2.22. The company has a 50 day moving average price of $4.73 and a 200 day moving average price of $4.30. W&T Offshore has a 52 week low of $2.64 and a 52 week high of $6.68.
In other news, insider Shahid Ghauri sold 116,411 shares of the company’s stock in a transaction 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 filing with the SEC, which can be accessed through the SEC website. 34.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Citigroup Inc. raised its position in W&T Offshore by 30.9% during the third quarter. Citigroup Inc. now owns 11,126 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 2,625 shares during the period. Deutsche Bank AG raised its position in W&T Offshore by 1.1% during the fourth quarter. Deutsche Bank AG now owns 285,218 shares of the oil and gas company’s stock worth $921,000 after acquiring an additional 3,023 shares during the period. Ethic Inc. raised its position in W&T Offshore by 20.4% during the first quarter. Ethic Inc. now owns 18,956 shares of the oil and gas company’s stock worth $72,000 after acquiring an additional 3,213 shares during the period. State of Tennessee Treasury Department raised its position in W&T Offshore by 8.3% during the first quarter. State of Tennessee Treasury Department now owns 43,201 shares of the oil and gas company’s stock worth $165,000 after acquiring an additional 3,310 shares during the period. Finally, Rhumbline Advisers raised its position in W&T Offshore by 2.9% during the fourth quarter. Rhumbline Advisers now owns 153,952 shares of the oil and gas company’s stock worth $497,000 after acquiring an additional 4,339 shares during the period. 36.85% of the stock is currently owned by hedge funds and other institutional investors.
About W&T Offshore (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. As of December 31, 2021, the company had working interests in 43 fields in federal and state waters; and under lease approximately 606,000 gross acres, including approximately 419,000 gross acres on the Gulf of Mexico Shelf, as well as approximately 187,000 gross acres in the Gulf of Mexico deepwater.
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