Several other research analysts have also weighed in on the stock. Stifel Nicolaus set a $10.00 target price on shares of W&T Offshore and gave the stock a buy rating in a research report on Monday, August 12th. Roth Capital set a $11.00 price target on shares of W&T Offshore and gave the company a buy rating in a research report on Friday, August 16th. Finally, Zacks Investment Research raised W&T Offshore from a hold rating to a buy rating and set a $5.25 price objective for the company in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $8.75.
Shares of WTI traded down $0.27 during mid-day trading on Tuesday, hitting $5.39. The company’s stock had a trading volume of 2,251,000 shares, compared to its average volume of 2,525,600. The firm has a 50-day simple moving average of $4.59 and a 200 day simple moving average of $4.49. The firm has a market capitalization of $796.31 million, a P/E ratio of 5.34 and a beta of 2.96. W&T Offshore has a 1-year low of $3.75 and a 1-year high of $7.18.
W&T Offshore (NYSE:WTI) last released its earnings results on Wednesday, October 30th. The oil and gas company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. W&T Offshore had a negative return on equity of 29.02% and a net margin of 38.63%. The company had revenue of $132.20 million during the quarter, compared to the consensus estimate of $133.52 million. During the same quarter last year, the company earned $0.30 earnings per share. W&T Offshore’s quarterly revenue was down 13.9% compared to the same quarter last year. Sell-side analysts anticipate that W&T Offshore will post 0.46 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP lifted its stake in W&T Offshore by 54.4% in the 1st quarter. First Trust Advisors LP now owns 504,062 shares of the oil and gas company’s stock valued at $3,478,000 after buying an additional 177,621 shares in the last quarter. James Investment Research Inc. raised its holdings in shares of W&T Offshore by 15.9% in the second quarter. James Investment Research Inc. now owns 172,940 shares of the oil and gas company’s stock worth $858,000 after acquiring an additional 23,715 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of W&T Offshore in the second quarter valued at $277,000. Meritage Portfolio Management lifted its position in shares of W&T Offshore by 35.2% in the second quarter. Meritage Portfolio Management now owns 13,980 shares of the oil and gas company’s stock valued at $69,000 after acquiring an additional 3,637 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of W&T Offshore by 64.9% during the second quarter. BNP Paribas Arbitrage SA now owns 194,857 shares of the oil and gas company’s stock valued at $966,000 after acquiring an additional 76,712 shares during the last quarter. Institutional investors own 59.63% of the company’s stock.
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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