W&T Offshore (WTI) Hits New 1-Year High at $9.44

W&T Offshore, Inc. (NYSE:WTI)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $9.44 and last traded at $9.34, with a volume of 289623 shares traded. The stock had previously closed at $8.71.

Several brokerages recently weighed in on WTI. Seaport Global Securities upgraded shares of W&T Offshore to a “buy” rating in a report on Thursday, June 14th. Capital One Financial downgraded shares of W&T Offshore from an “equal weight” rating to an “underweight” rating in a report on Thursday, May 31st. KLR Group reiterated a “sell” rating and issued a $6.25 price target on shares of W&T Offshore in a report on Monday, August 20th. Finally, Zacks Investment Research downgraded shares of W&T Offshore from a “buy” rating to a “hold” rating in a report on Wednesday, August 15th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $8.00.

The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of -1.50. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 16.28 and a beta of 2.65.

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 Thomson Reuters’ consensus estimate of $0.19 by $0.10. W&T Offshore had a net margin of 16.40% and a negative return on equity of 18.00%. The company had revenue of $149.60 million for the quarter, compared to the consensus estimate of $150.66 million. During the same quarter in the prior year, the company earned $0.22 EPS. W&T Offshore’s quarterly revenue was up 21.3% on a year-over-year basis. research analysts expect that W&T Offshore, Inc. will post 0.9 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in WTI. Raymond James & Associates purchased a new stake in W&T Offshore in the 2nd quarter worth approximately $101,000. Teacher Retirement System of Texas purchased a new stake in W&T Offshore in the 2nd quarter worth approximately $141,000. Thompson Davis & CO. Inc. purchased a new stake in W&T Offshore in the 2nd quarter worth approximately $152,000. Campbell & CO Investment Adviser LLC purchased a new stake in W&T Offshore in the 2nd quarter worth approximately $170,000. Finally, Globeflex Capital L P purchased a new stake in W&T Offshore in the 2nd quarter worth approximately $172,000. Institutional investors and hedge funds own 57.59% of the company’s stock.

About W&T Offshore (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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