W&T Offshore Inc. (WTI) Stock Price Up 4.1%
Shares of W&T Offshore Inc. (NYSE:WTI) rose 4.1% during mid-day trading on Wednesday . The stock traded as high as $2.27 and last traded at $2.27, with a volume of 683,007 shares trading hands. The stock had previously closed at $2.18.
WTI has been the topic of several recent analyst reports. KLR Group cut shares of W&T Offshore from a “buy” rating to a “hold” rating and set a $3.50 price target on the stock. in a report on Thursday, March 10th. Capital One Financial Corp. upgraded shares of W&T Offshore from an “underweight” rating to an “equal weight” rating in a research note on Monday, March 28th. Six equities research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and a consensus target price of $3.04.
The company has a 50-day moving average of $2.15 and a 200-day moving average of $2.13. The stock’s market capitalization is $173.49 million.
W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.90) by $0.05. The business earned $77.70 million during the quarter, compared to the consensus estimate of $97.92 million. During the same quarter in the previous year, the business posted ($0.92) EPS. The firm’s revenue was down 39.2% on a year-over-year basis. Equities research analysts expect that W&T Offshore Inc. will post ($2.71) EPS for the current fiscal year.
An institutional investor recently raised its position in W&T Offshore stock. California Public Employees Retirement System increased its stake in shares of W&T Offshore Inc. (NYSE:WTI) by 6.0% during the fourth quarter, Holdings Channel reports. The firm 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 filing with the SEC.
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.