W&T Offshore Inc. (NYSE:WTI)’s share price was down 3.1% on Thursday . The company traded as low as $2.19 and last traded at $2.20, with a volume of 592,990 shares changing hands. The stock had previously closed at $2.27.

A number of equities analysts recently weighed in on WTI shares. KLR Group cut W&T Offshore from a “buy” rating to a “hold” rating and set a $3.50 price objective on the stock. in a report on Thursday, March 10th. Capital One Financial Corp. upgraded W&T Offshore from an “underweight” rating to an “equal weight” rating in a research report on Monday, March 28th. Six analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus price target of $3.04.

The firm has a 50 day moving average price of $2.15 and a 200 day moving average price of $2.13. The firm’s market cap is $165.85 million.

W&T Offshore (NYSE:WTI) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by $0.05. The firm earned $77.70 million during the quarter, compared to analysts’ expectations of $97.92 million. The firm’s revenue for the quarter was down 39.2% on a year-over-year basis. During the same period last year, the business posted ($0.92) earnings per share. Equities research analysts anticipate that W&T Offshore Inc. will post ($2.71) earnings per share for the current year.

An institutional investor recently raised its position in W&T Offshore stock. California Public Employees Retirement System raised its position in 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.

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