W&T Offshore reported a loss of $1.13 a share for the first quarter, below analysts' estimates of a loss of 78 cents a share for the quarter. Revenue fell 49.7% year over year to $127.9 million for the quarter, below analysts' estimates of $138.47 million.
The company said production averaged 49,000 barrels of oil equivalent a day in the first quarter for a total of 4.4 million barrels of oil equivalent, 53% of which was oil and liquids.
W&T Offshore expects to produce between 3.9 million and 4.3 million barrels of oil equivalent in the second quarter, and between 16.6 million and 18.4 barrels of oil equivalent in full year 2015.
TheStreet Ratings team rates W&T OFFSHORE INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate W&T OFFSHORE INC (WTI) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, generally high debt management risk, disappointing return on equity and generally disappointing historical performance in the stock itself."
You can view the full analysis from the report here: WTI Ratings Report