W&T Offshore (NYSE:WTI) Issues Earnings Results, Beats Expectations By $0.31 EPS

W&T Offshore (NYSE:WTI) announced its quarterly earnings results on Monday. The oil and gas company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.31, Yahoo Finance reports. W&T Offshore had a net margin of 34.59% and a negative return on equity of 30.31%. The firm had revenue of $124.13 million during the quarter, compared to analysts’ expectations of $129.93 million.

Shares of WTI stock opened at $2.39 on Thursday. W&T Offshore has a 12 month low of $1.07 and a 12 month high of $6.10. The firm has a market capitalization of $362.67 million, a P/E ratio of 1.82 and a beta of 3.21. The company’s fifty day moving average price is $2.78 and its two-hundred day moving average price is $3.31.

A number of analysts recently weighed in on WTI shares. Roth Capital raised shares of W&T Offshore from a “neutral” rating to a “buy” rating and set a $3.80 price target for the company in a research report on Friday, April 17th. Stifel Nicolaus lowered shares of W&T Offshore from a “buy” rating to a “hold” rating and cut their price objective for the stock from $8.00 to $2.00 in a report on Monday, March 9th. Capital One Financial lowered shares of W&T Offshore from an “equal weight” rating to an “underweight” rating in a report on Friday, May 1st. Finally, ValuEngine upgraded shares of W&T Offshore from a “strong sell” rating to a “sell” rating in a report on Thursday, April 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $3.85.

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.

Further Reading: How is an ETF different from a mutual fund?

Earnings History for W&T Offshore (NYSE:WTI)

Receive News & Ratings for W&T Offshore Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W&T Offshore and related companies with MarketBeat.com's FREE daily email newsletter.