Analysts expect W&T Offshore, Inc. (NYSE:WTI) to report sales of $74.24 million for the current quarter, Zacks reports. Two analysts have made estimates for W&T Offshore’s earnings, with the highest sales estimate coming in at $83.08 million and the lowest estimate coming in at $65.40 million. W&T Offshore posted sales of $134.70 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 44.9%. The business is scheduled to issue its next quarterly earnings results on Wednesday, July 29th.

According to Zacks, analysts expect that W&T Offshore will report full-year sales of $374.99 million for the current fiscal year, with estimates ranging from $354.40 million to $395.57 million. For the next financial year, analysts anticipate that the business will post sales of $396.23 million, with estimates ranging from $348.40 million to $444.05 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover W&T Offshore.

W&T Offshore (NYSE:WTI) last released its quarterly earnings results on Monday, June 22nd. The oil and gas company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.31. W&T Offshore had a negative return on equity of 30.31% and a net margin of 34.59%. The company had revenue of $124.13 million during the quarter, compared to analysts’ expectations of $129.93 million.

A number of equities analysts have commented on WTI shares. Stifel Nicolaus cut W&T Offshore from a “buy” rating to a “hold” rating and reduced their target price for the company from $8.00 to $2.00 in a report on Monday, March 9th. ValuEngine raised W&T Offshore from a “strong sell” rating to a “sell” rating in a report on Thursday, April 23rd. Roth Capital upgraded W&T Offshore from a “neutral” rating to a “buy” rating and set a $3.80 price target for the company in a research report on Friday, April 17th. Finally, Capital One Financial lowered W&T Offshore from an “equal weight” rating to an “underweight” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $3.85.

Shares of W&T Offshore stock traded up $0.09 during mid-day trading on Thursday, reaching $2.32. 5,785,600 shares of the stock traded hands, compared to its average volume of 6,061,984. The business has a 50-day moving average of $2.74 and a 200 day moving average of $3.26. W&T Offshore has a fifty-two week low of $1.07 and a fifty-two week high of $6.10. The stock has a market capitalization of $328.93 million, a PE ratio of 1.77 and a beta of 3.22.

In related news, Director B Frank Stanley purchased 20,000 shares of the company’s stock in a transaction dated Thursday, June 25th. The stock was acquired at an average cost of $2.39 per share, for a total transaction of $47,800.00. Following the completion of the transaction, the director now directly owns 203,653 shares of the company’s stock, valued at $486,730.67. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 34.08% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can purchased a new position in W&T Offshore in the fourth quarter worth approximately $40,000. Ellington Management Group LLC purchased a new position in W&T Offshore in the fourth quarter worth approximately $56,000. Creative Planning grew its position in W&T Offshore by 63.4% in the first quarter. Creative Planning now owns 16,894 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 6,554 shares during the period. Alpine Global Management LLC purchased a new position in W&T Offshore in the first quarter worth approximately $31,000. Finally, Two Sigma Securities LLC purchased a new position in W&T Offshore in the first quarter worth approximately $32,000. Institutional investors own 45.00% 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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