W&T Offshore (WTI) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $-0.47 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.13. Analysts had a consensus of $-0.60. The company posted revenue of $99.66 million in the period, compared to analysts expectations of $110.81 million. The company’s revenue was down -33.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.54 EPS.
W&T Offshore opened for trading at $1.76 and hit $1.9 on the upside on Tusday, eventually ending the session at $1.79, with a gain of 2.87% or 0.05 points. The heightened volatility saw the trading volume jump to 12,90,096 shares. Company has a market cap of $137 M.
In a different news, on Nov 13, 2015, S James Nelson (director) purchased 9,000 shares at $3.70 per share price. According to the SEC, on Sep 11, 2015, Virginia Boulet (director) purchased 12,750 shares at $3.15 per share price. On Sep 9, 2015, B Frank Stanley (director) purchased 11,000 shares at $3.67 per share price, according to the Form-4 filing with the securities and exchange commission.
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 primarily in the Gulf of Mexico and the Permian Basin in West Texas. Its onshore activities are primarily in the Permian Basin in West Texas. The Company owns a platform in the Gulf of Mexico located in a National Marine Sanctuary. The offshore fields are found in water depths ranging from less than 10 feet up to 7200 feet. Its properties include Spraberry Field (Yellow Rose) Ship Shoal 349 Field (Mahogany) Fairway Field The Viosca Knoll 783 field Mississippi Canyon 243 Field (Matterhorn) Main Pass 108 Field Mississippi Canyon 782 Field (Dantzler) Viosca Knoll 823 Field (Virgo) East Cameron 321 and Main Pass 283.