Zacks: Brokerages Anticipate W&T Offshore, Inc. (NYSE:WTI) Will Post Earnings of $0.33 Per Share – Defense World

Wall Street analysts predict that W&T Offshore, Inc. (NYSE:WTI Get Rating) will report earnings per share of $0.33 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for W&T Offshores earnings, with estimates ranging from $0.19 to $0.47. W&T Offshore posted earnings per share of $0.02 in the same quarter last year, which indicates a positive year over year growth rate of 1,550%. The company is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that W&T Offshore will report full-year earnings of $1.46 per share for the current fiscal year, with EPS estimates ranging from $0.89 to $2.03. For the next fiscal year, analysts forecast that the business will post earnings of $1.68 per share. Zacks earnings per share calculations are an average based on a survey of analysts 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 earnings per share (EPS) for the quarter, topping analysts consensus estimates of $0.18 by $0.03. W&T Offshore had a negative net margin of 6.93% and a negative return on equity of 18.05%. The company had revenue of $191.00 million for the quarter, compared to the consensus estimate of $159.49 million. During the same period last year, the firm posted $0.11 EPS. The companys revenue for the quarter was up 52.1% on a year-over-year basis.

NYSE:WTI opened at $5.63 on Thursday. The firm has a market capitalization of $805.16 million, a PE ratio of -18.16 and a beta of 2.22. W&T Offshore has a 52 week low of $2.64 and a 52 week high of $6.68. The stock has a 50 day moving average of $4.70 and a 200-day moving average of $4.28.

In related news, insider Shahid Ghauri sold 116,411 shares of the stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $4.50, for a total value of $523,849.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 34.40% of the companys stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its holdings in W&T Offshore by 54.4% during the first quarter. First Trust Advisors LP now owns 504,062 shares of the oil and gas companys stock worth $3,478,000 after acquiring an additional 177,621 shares during the period. SG Americas Securities LLC acquired a new position in shares of W&T Offshore in the 3rd quarter worth approximately $215,000. Advisor Group Holdings Inc. raised its holdings in shares of W&T Offshore by 161.9% in the 3rd quarter. Advisor Group Holdings Inc. now owns 56,035 shares of the oil and gas companys stock worth $209,000 after purchasing an additional 34,639 shares in the last quarter. BlackRock Inc. lifted its stake in W&T Offshore by 18.5% during the third quarter. BlackRock Inc. now owns 10,290,646 shares of the oil and gas companys stock valued at $38,280,000 after purchasing an additional 1,604,736 shares during the last quarter. Finally, Barclays PLC boosted its holdings in W&T Offshore by 210.5% during the third quarter. Barclays PLC now owns 168,951 shares of the oil and gas companys stock worth $629,000 after buying an additional 114,533 shares in the last quarter. Hedge funds and other institutional investors own 36.85% of the companys stock.

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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Zacks: Brokerages Anticipate W&T Offshore, Inc. (NYSE:WTI) Will Post Earnings of $0.33 Per Share - Defense World