W&T Offshore (NYSE:WTI) Trading 5.9% Higher

W&T Offshore, Inc. (NYSE:WTI) shot up 5.9% during trading on Friday . The stock traded as high as $4.34 and last traded at $4.32. 1,556,273 shares were traded during trading, a decline of 36% from the average session volume of 2,433,686 shares. The stock had previously closed at $4.08.

Wall Street Analysts Forecast Growth

WTI has been the subject of several research reports. Stifel Nicolaus lifted their price target on shares of W&T Offshore from $7.90 to $8.30 and gave the company a “buy” rating in a research report on Friday, August 25th. StockNews.com initiated coverage on W&T Offshore in a research note on Thursday, August 17th. They set a “hold” rating for the company.

W&T Offshore Price Performance

The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 15.05. The business has a 50-day moving average of $4.06 and a 200 day moving average of $4.49. The firm has a market capitalization of $643.05 million, a PE ratio of 5.16 and a beta of 1.97.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Tuesday, August 1st. The oil and gas company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The firm had revenue of $126.20 million during the quarter, compared to analysts’ expectations of $123.60 million. W&T Offshore had a net margin of 17.37% and a return on equity of 1,591.08%. The company’s quarterly revenue was down 53.9% on a year-over-year basis. During the same quarter last year, the business posted $1.32 EPS. As a group, research analysts anticipate that W&T Offshore, Inc. will post 0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On W&T Offshore

Large investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC raised its holdings in shares of W&T Offshore by 16.7% in the 4th quarter. ProShare Advisors LLC now owns 12,165 shares of the oil and gas company’s stock valued at $68,000 after acquiring an additional 1,744 shares in the last quarter. Creative Planning raised its stake in shares of W&T Offshore by 15.9% during the fourth quarter. Creative Planning now owns 18,228 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 2,503 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of W&T Offshore by 17.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 16,602 shares of the oil and gas company’s stock worth $84,000 after acquiring an additional 2,522 shares during the last quarter. FMR LLC boosted its stake in shares of W&T Offshore by 18.3% in the 1st quarter. FMR LLC now owns 16,581 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 2,570 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of W&T Offshore by 5.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 53,026 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 2,765 shares during the last quarter. Institutional investors own 39.72% of the company’s stock.

W&T Offshore Company Profile

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. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.