Mcdonald’s (MCD) Set to Announce Earnings on Friday W&T Offshore, Inc. (NYSE:WTI) to Post Q2 2019 Earnings of $0.03 Per Share, Seaport Global Securities Forecasts Posted by Logan Wallace
W&T Offshore, Inc. (NYSE:WTI) – Equities researchers at Seaport Global Securities lowered their Q2 2019 earnings estimates for shares of W&T Offshore in a report issued on Monday, July 22nd. Seaport Global Securities analyst M. Kelly now anticipates that the oil and gas company will post earnings of $0.03 per share for the quarter, down from their previous forecast of $0.09. Seaport Global Securities has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for W&T Offshore’s Q3 2019 earnings at $0.12 EPS, Q4 2019 earnings at $0.13 EPS, Q1 2020 earnings at $0.14 EPS, Q2 2020 earnings at $0.12 EPS, Q3 2020 earnings at $0.13 EPS, Q4 2020 earnings at $0.10 EPS and FY2020 earnings at $0.49 EPS. Get W&T Offshore alerts:
Several other analysts have also commented on WTI. Zacks Investment Research lowered shares of German American Bancorp. from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. ValuEngine upgraded shares of Yirendai from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Capital One Financial upgraded shares of Cimarex Energy from an “equal weight” rating to an “overweight” rating in a report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $8.75. Shares of WTI opened at $4.44 on Tuesday. W&T Offshore has a one year low of $3.62 and a one year high of $9.88. The business has a 50-day moving average of $4.61. The stock has a market capitalization of $639.91 million, a price-to-earnings ratio of 4.40 and a beta of 3.04.
W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Wednesday, May 1st. The oil and gas company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.06). W&T Offshore had a negative return on equity of 29.98% and a net margin of 30.83%. The company had revenue of $116.08 million during the quarter, compared to analysts’ expectations of $120.51 million. During the same quarter last year, the business earned $0.19 earnings per share. The business’s quarterly revenue was down 13.5% on a year-over-year basis.
In other W&T Offshore news, Director Stuart B. Katz bought 10,000 shares of the stock in a transaction dated Tuesday, May 7th. The stock was purchased at an average cost of $5.10 per share, for a total transaction of $51,000.00. Following the completion of the acquisition, the director now owns 237,089 shares of the company’s stock, valued at $1,209,153.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link . Also, CEO Tracy W. Krohn bought 15,000 shares of the stock in a transaction dated Wednesday, July 10th. The shares were acquired at an average price of $4.65 per share, with a total value of $69,750.00. The disclosure for this purchase can be found here . Insiders have bought 132,000 shares of company stock valued at $611,130 over the last quarter. Company insiders own 33.60% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in WTI. Denali Advisors LLC lifted its holdings in shares of W&T Offshore by 4,858.7% during the second quarter. Denali Advisors LLC now owns 14,281 shares of the oil and gas company’s stock valued at $71,000 after purchasing an additional 13,993 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of W&T Offshore by 22.9% during the fourth quarter. Legal & General Group Plc now owns 17,914 shares of the oil and gas company’s stock valued at $74,000 after purchasing an additional 3,335 shares during the last quarter. Cipher Capital LP purchased a new position in shares of W&T Offshore during the fourth quarter valued at approximately $76,000. LPL Financial LLC lifted its holdings in shares of W&T Offshore by 33.9% during the fourth quarter. LPL Financial LLC now owns 19,476 shares of the oil and gas company’s stock valued at $80,000 after purchasing an additional 4,930 shares during the last quarter. Finally, HRT Financial LLC purchased a new position in shares of W&T Offshore during the fourth quarter valued at approximately $85,000. Hedge funds and other institutional investors own 60.41% of the company’s stock.
About W&T Offshore
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.
