Wall Street analysts predict that W&T Offshore, Inc. (NYSE:WTI) will report $132.77 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for W&T Offshore’s earnings, with the highest sales estimate coming in at $141.60 million and the lowest estimate coming in at $126.10 million. W&T Offshore posted sales of $149.61 million during the same quarter last year, which suggests a negative year over year growth rate of 11.3%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that W&T Offshore will report full year sales of $530.43 million for the current financial year, with estimates ranging from $514.36 million to $546.50 million. For the next year, analysts expect that the company will post sales of $551.05 million, with estimates ranging from $546.39 million to $555.70 million. Zacks’ sales calculations are an average based on a survey of research firms that cover W&T Offshore.

W&T Offshore (NYSE:WTI) last released its quarterly earnings results on Wednesday, May 1st. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.06). W&T Offshore had a net margin of 30.83% and a negative return on equity of 29.98%. The firm had revenue of $116.08 million for the quarter, compared to analyst estimates of $120.51 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The firm’s revenue was down 13.5% compared to the same quarter last year.

Several research firms have weighed in on WTI. Stifel Nicolaus began coverage on shares of W&T Offshore in a research note on Thursday, March 7th. They issued a “buy” rating and a $10.00 price objective on the stock. ValuEngine upgraded shares of W&T Offshore from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. Finally, Zacks Investment Research lowered shares of W&T Offshore from a “buy” rating to a “hold” rating in a research note on Wednesday, January 30th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $8.75.

In other W&T Offshore news, insider Shahid Ghauri purchased 7,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were bought at an average price of $6.01 per share, for a total transaction of $42,070.00. Following the purchase, the insider now directly owns 8,000 shares in the company, valued at approximately $48,080. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director B Frank Stanley purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were acquired at an average price of $6.51 per share, for a total transaction of $65,100.00. Following the purchase, the director now owns 172,063 shares in the company, valued at $1,120,130.13. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 27,000 shares of company stock worth $158,170. Company insiders own 33.60% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of W&T Offshore during the 1st quarter worth $1,084,000. Sandler Capital Management acquired a new position in shares of W&T Offshore during the 1st quarter worth $506,000. Zebra Capital Management LLC increased its stake in shares of W&T Offshore by 66.2% during the 1st quarter. Zebra Capital Management LLC now owns 48,964 shares of the oil and gas company’s stock worth $338,000 after purchasing an additional 19,501 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of W&T Offshore by 7,283.5% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 34,038 shares of the oil and gas company’s stock worth $235,000 after purchasing an additional 33,577 shares during the last quarter. Finally, Man Group plc acquired a new position in shares of W&T Offshore during the 1st quarter worth $2,372,000. Institutional investors own 64.36% of the company’s stock.

Shares of WTI stock traded down $0.06 during trading hours on Friday, reaching $5.04. 1,893,123 shares of the stock traded hands, compared to its average volume of 2,637,728. W&T Offshore has a 1-year low of $3.62 and a 1-year high of $9.88. The firm has a market capitalization of $677.90 million, a P/E ratio of 4.99 and a beta of 2.85.

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.

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