Brokerages expect that W&T Offshore, Inc. (NYSE:WTI) will post earnings of $0.12 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for W&T Offshore’s earnings. The highest EPS estimate is $0.20 and the lowest is $0.04. W&T Offshore posted earnings per share of $0.19 during the same quarter last year, which would suggest a negative year over year growth rate of 36.8%. The business is expected to announce its next earnings results on Wednesday, May 1st.

According to Zacks, analysts expect that W&T Offshore will report full year earnings of $0.54 per share for the current fiscal year, with EPS estimates ranging from $0.46 to $0.65. For the next year, analysts forecast that the company will post earnings of $0.57 per share, with EPS estimates ranging from $0.46 to $0.67. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for W&T Offshore.

W&T Offshore (NYSE:WTI) last posted its earnings results on Wednesday, February 27th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The firm had revenue of $143.42 million during the quarter, compared to analyst estimates of $137.84 million. W&T Offshore had a net margin of 42.85% and a negative return on equity of 31.81%.

A number of research analysts have issued reports on WTI shares. Stifel Nicolaus started coverage on shares of W&T Offshore in a research note on Thursday, March 7th. They set a “buy” rating and a $10.00 target price for the company. ValuEngine downgraded shares of W&T Offshore from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 6th. Finally, Zacks Investment Research downgraded shares of W&T Offshore from a “buy” rating to a “hold” rating in a report on Wednesday, January 30th. Three equities research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $8.75.

In other W&T Offshore news, insider David M. Bump sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $5.40, for a total transaction of $54,000.00. Following the sale, the insider now directly owns 54,719 shares in the company, valued at approximately $295,482.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shahid Ghauri bought 7,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were bought at an average price of $6.01 per share, for a total transaction of $42,070.00. Following the completion of the acquisition, the insider now directly owns 8,000 shares in the company, valued at approximately $48,080. The disclosure for this purchase can be found here. Company insiders own 33.60% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of WTI. Capital Impact Advisors LLC boosted its position in W&T Offshore by 26.4% during the fourth quarter. Capital Impact Advisors LLC now owns 266,621 shares of the oil and gas company’s stock worth $1,090,000 after purchasing an additional 55,670 shares during the period. Vanguard Group Inc. lifted its holdings in shares of W&T Offshore by 14.8% during the third quarter. Vanguard Group Inc. now owns 8,180,823 shares of the oil and gas company’s stock worth $78,864,000 after buying an additional 1,053,062 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of W&T Offshore by 43.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 570,260 shares of the oil and gas company’s stock worth $2,349,000 after buying an additional 172,312 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of W&T Offshore during the third quarter worth $102,000. Finally, Cigna Investments Inc. New lifted its holdings in shares of W&T Offshore by 38.5% during the fourth quarter. Cigna Investments Inc. New now owns 15,322 shares of the oil and gas company’s stock worth $63,000 after buying an additional 4,256 shares in the last quarter. Institutional investors own 63.89% of the company’s stock.

W&T Offshore stock traded up $0.08 during midday trading on Tuesday, reaching $6.90. 1,941,766 shares of the stock traded hands, compared to its average volume of 2,568,132. The firm has a market capitalization of $920.88 million, a price-to-earnings ratio of 6.82 and a beta of 2.93. W&T Offshore has a fifty-two week low of $3.62 and a fifty-two week high of $9.88.

About W&T Offshore

W&T Offshore, Inc, an independent oil and natural gas producer, acquires, explores for, and develops oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interests in approximately 49 offshore fields in federal and state waters.

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