W&T Offshore Inc. (WTI) Shares Down 1.8%
Shares of W&T Offshore Inc. (NYSE:WTI) dropped 1.8% on Friday . The stock traded as low as $2.12 and last traded at $2.14, with a volume of 285,068 shares. The stock had previously closed at $2.18.
Separately, Capital One Financial Corp. upgraded shares of 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 stock presently has a consensus rating of “Hold” and a consensus target price of $3.04.
The stock’s market cap is $160.50 million. The stock’s 50-day moving average is $2.17 and its 200 day moving average is $2.12.
W&T Offshore (NYSE:WTI) last issued its quarterly earnings data 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 business had revenue of $77.70 million for the quarter, compared to the consensus estimate of $97.92 million. During the same period last year, the business earned ($0.92) earnings per share. The firm’s quarterly revenue was down 39.2% compared to the same quarter last year. Equities analysts anticipate that W&T Offshore Inc. will post ($2.36) earnings per share for the current fiscal year.
An institutional investor recently raised its position in W&T Offshore stock. California Public Employees Retirement System boosted its stake in shares of W&T Offshore Inc. (NYSE:WTI) by 6.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 reporting period.
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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