W&T Offshore, Inc. (NYSE:WTI) – Seaport Global Securities increased their Q3 2018 earnings per share estimates for W&T Offshore in a research note issued on Wednesday, September 26th. Seaport Global Securities analyst J. Aschenbeck now expects that the oil and gas company will post earnings of $0.16 per share for the quarter, up from their prior estimate of $0.14. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for W&T Offshore’s Q1 2019 earnings at $0.21 EPS, Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.18 EPS, Q4 2019 earnings at $0.19 EPS and FY2019 earnings at $0.76 EPS.

W&T Offshore (NYSE:WTI) last issued its earnings results on Wednesday, August 1st. The oil and gas company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.10. W&T Offshore had a net margin of 16.40% and a negative return on equity of 18.00%. The company had revenue of $149.60 million for the quarter, compared to analysts’ expectations of $150.66 million. During the same period in the prior year, the business earned $0.22 EPS. The firm’s quarterly revenue was up 21.3% on a year-over-year basis.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a report on Tuesday, July 17th. KLR Group reiterated a “sell” rating and set a $6.25 target price on shares of W&T Offshore in a report on Monday, August 20th. Finally, Capital One Financial cut shares of W&T Offshore from an “equal weight” rating to an “underweight” rating in a report on Thursday, May 31st. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. W&T Offshore has an average rating of “Hold” and an average price target of $8.00.

Shares of W&T Offshore stock opened at $8.98 on Thursday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of -1.50. W&T Offshore has a 1 year low of $2.60 and a 1 year high of $9.44. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 16.28 and a beta of 2.65.

Several hedge funds have recently added to or reduced their stakes in the business. PEAK6 Investments L.P. lifted its position in shares of W&T Offshore by 32.9% during the second quarter. PEAK6 Investments L.P. now owns 37,582 shares of the oil and gas company’s stock valued at $269,000 after buying an additional 9,294 shares during the last quarter. Raymond James & Associates purchased a new position in shares of W&T Offshore in the 2nd quarter valued at approximately $101,000. Meeder Asset Management Inc. raised its position in shares of W&T Offshore by 184.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 25,304 shares of the oil and gas company’s stock valued at $181,000 after purchasing an additional 16,408 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of W&T Offshore by 23.8% in the 1st quarter. New York State Common Retirement Fund now owns 89,163 shares of the oil and gas company’s stock valued at $395,000 after purchasing an additional 17,163 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of W&T Offshore in the 2nd quarter valued at approximately $141,000. 57.59% of the stock is owned by institutional investors and hedge funds.

W&T Offshore Company Profile

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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Earnings History and Estimates for W&T Offshore (NYSE:WTI)

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