W&T Offshore (NYSE:WTI) Receives New Coverage from Analysts at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of W&T Offshore (NYSE:WTI – Get Rating) in a note issued to investors on Thursday. The brokerage set a “buy” rating on the oil and gas company’s stock.

W&T Offshore Price Performance

NYSE WTI opened at $4.65 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 14.56. W&T Offshore has a 52 week low of $3.57 and a 52 week high of $9.16. The firm has a market capitalization of $681.04 million, a P/E ratio of 2.92 and a beta of 1.97. The company has a 50-day moving average price of $5.78 and a 200-day moving average price of $6.36.

W&T Offshore (NYSE:WTI – Get Rating) last posted its quarterly earnings results on Tuesday, March 7th. The oil and gas company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.07. The business had revenue of $189.70 million for the quarter, compared to analysts’ expectations of $182.38 million. W&T Offshore had a negative return on equity of 270.10% and a net margin of 25.10%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. Equities research analysts anticipate that W&T Offshore will post 1.08 earnings per share for the current year.

Hedge Funds Weigh In On W&T Offshore

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY boosted its position in shares of W&T Offshore by 64.4% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 5,677 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 2,224 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of W&T Offshore in the 1st quarter worth $33,000. Triasima Portfolio Management inc. increased its holdings in shares of W&T Offshore by 31.9% in the 3rd quarter. Triasima Portfolio Management inc. now owns 9,500 shares of the oil and gas company’s stock worth $56,000 after buying an additional 2,300 shares during the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of W&T Offshore during the 3rd quarter valued at about $59,000. Finally, Walleye Capital LLC bought a new position in shares of W&T Offshore in the 2nd quarter valued at about $43,000. 51.19% of the stock is owned by institutional investors.

About W&T Offshore

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W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.