Capital One Financial Corporation Brokers Reduce Earnings Estimates for W&T Offshore, Inc. (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) – Capital One Financial Corporation cut their FY2017 EPS estimates for shares of W&T Offshore in a research report issued on Friday, Zacks Investment Research reports. Capital One Financial Corporation analyst R. Tullis now forecasts that the oil and gas company will post earnings per share of $0.51 for the year, down from their previous estimate of $0.52.

W&T Offshore (NYSE:WTI) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The business had revenue of $110.30 million during the quarter, compared to analyst estimates of $119.50 million. W&T Offshore had a net margin of 15.38% and a negative return on equity of 10.86%. W&T Offshore’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.24) EPS.

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WTI has been the subject of a number of other reports. Zacks Investment Research upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a research report on Saturday, September 9th. ValuEngine upgraded shares of W&T Offshore from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. W&T Offshore currently has a consensus rating of “Hold” and a consensus price target of $2.50.

W&T Offshore (NYSE WTI) opened at $3.20 on Monday. The company has a market cap of $453.43, a price-to-earnings ratio of 6.85 and a beta of 2.51. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of -1.65. W&T Offshore has a 1 year low of $1.47 and a 1 year high of $3.69.

In related news, Director Stuart B. Katz bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was bought at an average cost of $1.85 per share, for a total transaction of $92,500.00. Following the completion of the transaction, the director now owns 205,113 shares of the company’s stock, valued at $379,459.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Tracy W. Krohn bought 132,134 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was bought at an average price of $1.85 per share, with a total value of $244,447.90. The disclosure for this purchase can be found here. Insiders purchased 1,388,841 shares of company stock valued at $2,804,309 over the last quarter. 32.58% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in WTI. Nationwide Fund Advisors grew its position in W&T Offshore by 165.5% in the first quarter. Nationwide Fund Advisors now owns 59,735 shares of the oil and gas company’s stock worth $165,000 after acquiring an additional 37,238 shares in the last quarter. Bank of New York Mellon Corp grew its position in W&T Offshore by 5.6% in the first quarter. Bank of New York Mellon Corp now owns 151,848 shares of the oil and gas company’s stock worth $420,000 after acquiring an additional 8,072 shares in the last quarter. Prudential Financial Inc. purchased a new position in W&T Offshore in the first quarter worth $124,000. Vanguard Group Inc. grew its position in W&T Offshore by 5.9% in the first quarter. Vanguard Group Inc. now owns 2,308,510 shares of the oil and gas company’s stock worth $6,394,000 after acquiring an additional 128,417 shares in the last quarter. Finally, Morgan Stanley grew its position in W&T Offshore by 247.6% in the first quarter. Morgan Stanley now owns 503,827 shares of the oil and gas company’s stock worth $1,396,000 after acquiring an additional 358,874 shares in the last quarter. Institutional investors own 49.46% of the company’s stock.

W&T Offshore Company Profile

W&T Offshore, Inc is an independent oil and natural gas producer. The Company is engaged in the exploration, development and acquisition of oil and natural gas properties in the Gulf of Mexico. As of December 31, 2016, the Company had interests in offshore leases covering approximately 750,000 gross acres (450,000 net acres) spanning across the Outer Continental Shelf (OCS) off the coasts of Louisiana, Texas, Mississippi and Alabama.

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