W&T Offshore (NYSE:WTI) Issues Quarterly Earnings Results

W&T Offshore (NYSE:WTI) issued its quarterly earnings data on Tuesday. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03), Briefing.com reports. W&T Offshore had a net margin of 17.37% and a return on equity of 1,591.08%. The company had revenue of $142.40 million during the quarter, compared to analyst estimates of $138.85 million. During the same period last year, the firm earned $0.33 EPS. The business’s quarterly revenue was down 46.6% compared to the same quarter last year.

W&T Offshore Stock Performance

NYSE:WTI opened at $3.81 on Wednesday. The company has a market cap of $557.36 million, a price-to-earnings ratio of 4.48 and a beta of 1.86. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 15.05. W&T Offshore has a 52 week low of $3.62 and a 52 week high of $9.00. The company has a fifty day simple moving average of $4.14 and a two-hundred day simple moving average of $4.10.

Hedge Funds Weigh In On W&T Offshore

A number of institutional investors and hedge funds have recently made changes to their positions in WTI. Point72 Hong Kong Ltd purchased a new position in shares of W&T Offshore in the 1st quarter valued at about $33,000. Walleye Capital LLC purchased a new position in shares of W&T Offshore in the 2nd quarter valued at about $43,000. PEAK6 Investments LLC purchased a new position in shares of W&T Offshore in the 1st quarter valued at about $45,000. Principal Financial Group Inc. purchased a new position in shares of W&T Offshore in the 2nd quarter valued at about $56,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of W&T Offshore by 3,299.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,562 shares of the oil and gas company’s stock worth $59,000 after purchasing an additional 13,163 shares in the last quarter. 39.72% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WTI. StockNews.com began coverage on shares of W&T Offshore in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Stifel Nicolaus lifted their target price on shares of W&T Offshore from $7.90 to $8.30 and gave the company a “buy” rating in a research report on Friday, August 25th.

About W&T Offshore

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. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.