W&T Offshore Inc. (WTI) Trading Up 4.6%
Shares of W&T Offshore Inc. (NYSE:WTI) were up 4.6% during trading on Monday . The stock 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 raised W&T Offshore from a “hold” rating to a “buy” rating and set a $2.25 target price on the stock in a research report on Tuesday, July 26th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $2.35.
The firm’s market capitalization is $155.62 million. The company has a 50-day moving average of $2.11 and a 200-day moving average of $2.14.
W&T Offshore (NYSE:WTI) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.47) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.22. The firm had revenue of $99.70 million for the quarter, compared to the consensus estimate of $102.64 million. During the same quarter last year, the firm posted ($0.54) earnings per share. The business’s revenue for the quarter was down 33.1% on a year-over-year basis. Analysts forecast that W&T Offshore Inc. will post ($1.99) EPS for the current year.
A hedge fund 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, according to its most recent filing with the SEC. The fund 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 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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