W&T Offshore Inc. (WTI) Stock Price Down 1.8%
Shares of W&T Offshore Inc. (NYSE:WTI) traded down 1.8% during mid-day trading on Friday . The company traded as low as $2.12 and last traded at $2.14, with a volume of 285,068 shares changing hands. The stock had previously closed at $2.18.
Separately, Capital One Financial Corp. raised W&T Offshore from an “underweight” rating to an “equal weight” rating in a research report on Monday, March 28th. Six investment analysts have rated the stock with a hold rating, W&T Offshore has an average rating of “Hold” and a consensus price target of $3.04.
The firm’s market cap is $160.50 million. The firm has a 50-day moving average price of $2.16 and a 200 day moving average price of $2.12.
W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Wednesday, May 4th. The company reported ($0.95) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.90) by $0.05. The business had revenue of $77.70 million for the quarter, compared to analyst estimates of $97.92 million. The company’s revenue was down 39.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.92) earnings per share. On average, analysts forecast that W&T Offshore Inc. will post ($2.46) EPS for the current year.
A hedge fund recently raised its stake in W&T Offshore stock. California Public Employees Retirement System boosted its position in shares of W&T Offshore Inc. (NYSE:WTI) by 6.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,678,967 shares of the company’s stock after buying an additional 95,600 shares during the period. California Public Employees Retirement System owned approximately 2.21% of W&T Offshore worth $3,878,000 as of its most recent SEC filing.
W&T Offshore, Inc is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. The Company owns a platform in the Gulf of Mexico located in a National Marine Sanctuary. The Company’s fields are located in federal and state waters in the Gulf of Mexico.
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