W&T Offshore Inc. (WTI) Stock Price Up 4.6%
W&T Offshore Inc. (NYSE:WTI) shares rose 4.6% during mid-day trading on Monday . The company traded as high as $2.08 and last traded at $2.05, with a volume of 1,685,218 shares changing hands. The stock had previously closed at $1.96.
Separately, Zacks Investment Research upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating and set a $2.25 target price for the company in a research report on Tuesday, July 26th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. W&T Offshore presently has an average rating of “Hold” and an average target price of $2.35.
The stock’s market capitalization is $161.32 million. The firm has a 50-day moving average price of $2.11 and a 200 day moving average price of $2.12.
W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.47) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.22. The company earned $99.70 million during the quarter, compared to analyst estimates of $102.64 million. The firm’s revenue for the quarter was down 33.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.54) EPS. Analysts expect that W&T Offshore Inc. will post ($2.02) EPS for the current year.
A hedge fund recently raised its stake in W&T Offshore stock. California Public Employees Retirement System raised its stake in shares of W&T Offshore Inc. (NYSE:WTI) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 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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