W&T Offshore Inc. (WTI) Trading Down 3.1%
Shares of W&T Offshore Inc. (NYSE:WTI) fell 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 traded. The stock had previously closed at $2.27.
Separately, Capital One Financial Corp. raised shares of W&T Offshore from an “underweight” rating to an “equal weight” rating in a research report on Monday, March 28th. Six equities research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $3.04.
The company has a 50-day moving average price of $2.16 and a 200 day moving average price of $2.13. The company’s market cap is $166.61 million.
W&T Offshore (NYSE:WTI) last announced its earnings results on Wednesday, May 4th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.90) by $0.05. The firm had revenue of $77.70 million for the quarter, compared to analyst estimates of $97.92 million. During the same quarter last year, the business posted ($0.92) EPS. The firm’s revenue for the quarter was down 39.2% on a year-over-year basis. Analysts anticipate that W&T Offshore Inc. will post ($2.61) earnings per share for the current fiscal year.
A hedge fund recently raised its stake 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 2.21% of W&T Offshore worth $3,878,000 at the end of the most recent quarter.
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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