W&T Offshore, Inc. (NYSE:WTI)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $8.01, but opened at $7.78. W&T Offshore shares last traded at $7.27, with a volume of 4268569 shares.

WTI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded W&T Offshore from a “hold” rating to a “strong-buy” rating and set a $9.25 price target on the stock in a research note on Thursday, September 27th. Seaport Global Securities restated a “buy” rating on shares of W&T Offshore in a research note on Wednesday, July 25th. Finally, KLR Group restated a “sell” rating and set a $6.25 price target on shares of W&T Offshore in a research note on Monday, August 20th. Three research analysts have rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. W&T Offshore currently has an average rating of “Hold” and an average target price of $8.08.

The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 13.18 and a beta of 2.55. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of -1.50.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Wednesday, August 1st. The oil and gas company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.10. W&T Offshore had a negative return on equity of 18.00% and a net margin of 16.40%. The business had revenue of $149.60 million for the quarter, compared to analyst estimates of $150.66 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. Analysts forecast that W&T Offshore, Inc. will post 0.9 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Raymond James & Associates purchased a new stake in W&T Offshore in the second quarter valued at approximately $101,000. Teacher Retirement System of Texas acquired a new position in W&T Offshore in the second quarter valued at approximately $141,000. Thompson Davis & CO. Inc. acquired a new position in W&T Offshore in the second quarter valued at approximately $152,000. Campbell & CO Investment Adviser LLC acquired a new position in W&T Offshore in the second quarter valued at approximately $170,000. Finally, Globeflex Capital L P acquired a new position in W&T Offshore in the second quarter valued at approximately $172,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

W&T Offshore Company Profile (NYSE:WTI)

W&T Offshore, Inc, an independent oil and natural gas producer, acquires, explores for, and develops oil and natural gas properties in the Gulf of Mexico. The company sells crude oil, natural gas liquids, and natural gas. It holds working interests in approximately 49 offshore fields in federal and state waters.

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