W&T Offshore, Inc. to Post Q3 2023 Earnings of $0.13 Per Share, Zacks Research Forecasts (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI – Get Rating) – Analysts at Zacks Research cut their Q3 2023 earnings estimates for W&T Offshore in a research report issued on Tuesday, May 23rd. Zacks Research analyst N. Banerjee now expects that the oil and gas company will post earnings per share of $0.13 for the quarter, down from their prior forecast of $0.19. The consensus estimate for W&T Offshore’s current full-year earnings is $0.48 per share. Zacks Research also issued estimates for W&T Offshore’s Q3 2024 earnings at $0.14 EPS, Q4 2024 earnings at $0.10 EPS, Q1 2025 earnings at $0.08 EPS and FY2025 earnings at $0.51 EPS.

W&T Offshore (NYSE:WTI – Get Rating) last released its quarterly earnings results on Tuesday, May 9th. The oil and gas company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.18). W&T Offshore had a net margin of 30.13% and a negative return on equity of 735.09%. The firm had revenue of $131.73 million during the quarter, compared to the consensus estimate of $142.08 million. During the same period in the prior year, the business earned $0.21 EPS. The company’s revenue for the quarter was down 31.0% compared to the same quarter last year.

Several other equities research analysts also recently issued reports on the stock. Stifel Nicolaus raised their price objective on shares of W&T Offshore from $8.00 to $8.20 in a research note on Thursday, April 27th. StockNews.com began coverage on shares of W&T Offshore in a research note on Thursday, May 18th. They issued a “hold” rating on the stock.

W&T Offshore Trading Down 1.0 %

Shares of W&T Offshore stock opened at $4.06 on Friday. The company’s fifty day simple moving average is $4.60 and its 200-day simple moving average is $5.52. The company has a market cap of $594.63 million, a price-to-earnings ratio of 2.28 and a beta of 1.98. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 10.69. W&T Offshore has a 1 year low of $3.57 and a 1 year high of $9.16.

Institutional Investors Weigh In On W&T Offshore

A number of institutional investors have recently bought and sold shares of the business. Brandywine Global Investment Management LLC boosted its stake in W&T Offshore by 92.4% during the first quarter. Brandywine Global Investment Management LLC now owns 380,635 shares of the oil and gas company’s stock worth $1,934,000 after buying an additional 182,780 shares in the last quarter. Capital Impact Advisors LLC boosted its stake in W&T Offshore by 5.5% during the first quarter. Capital Impact Advisors LLC now owns 115,774 shares of the oil and gas company’s stock worth $588,000 after buying an additional 6,015 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in W&T Offshore by 17.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 16,602 shares of the oil and gas company’s stock worth $84,000 after buying an additional 2,522 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of W&T Offshore by 11.5% in the 1st quarter. Thrivent Financial for Lutherans now owns 37,810 shares of the oil and gas company’s stock valued at $192,000 after purchasing an additional 3,897 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of W&T Offshore by 3.6% in the 1st quarter. Geode Capital Management LLC now owns 1,759,060 shares of the oil and gas company’s stock valued at $8,936,000 after purchasing an additional 61,527 shares in the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

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.