Zacks Research Research Analysts Reduce Earnings Estimates for W&T Offshore, Inc. (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) – Zacks Research decreased their Q4 2024 earnings estimates for W&T Offshore in a report issued on Friday, May 24th. Zacks Research analyst N. Banerjee now anticipates that the oil and gas company will post earnings per share of $0.00 for the quarter, down from their prior forecast of $0.01. The consensus estimate for W&T Offshore’s current full-year earnings is ($0.12) per share.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Tuesday, March 5th. The oil and gas company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.08). The company had revenue of $132.30 million during the quarter, compared to the consensus estimate of $138.23 million. W&T Offshore had a negative return on equity of 100.74% and a negative net margin of 4.04%. The business’s revenue was down 30.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS.

Separately, Stifel Nicolaus increased their price target on shares of W&T Offshore from $7.50 to $7.80 and gave the company a “buy” rating in a research report on Tuesday, April 23rd.

W&T Offshore Price Performance

WTI stock opened at $2.25 on Monday. The stock has a market cap of $330.44 million, a PE ratio of -15.00 and a beta of 1.56. The company has a debt-to-equity ratio of 18.51, a current ratio of 1.08 and a quick ratio of 1.08. W&T Offshore has a one year low of $2.17 and a one year high of $4.51. The firm has a 50 day simple moving average of $2.45 and a two-hundred day simple moving average of $2.86.

W&T Offshore Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 24th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $0.04 dividend on an annualized basis and a yield of 1.78%. W&T Offshore’s dividend payout ratio (DPR) is currently -26.66%.

Institutional Trading of W&T Offshore

A number of large investors have recently made changes to their positions in WTI. Sanders Morris Harris LLC purchased a new position in W&T Offshore during the first quarter valued at approximately $26,000. Signaturefd LLC grew its holdings in W&T Offshore by 907.2% during the 4th quarter. Signaturefd LLC now owns 8,390 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 7,557 shares in the last quarter. Norden Group LLC bought a new position in W&T Offshore during the 1st quarter worth about $29,000. Paloma Partners Management Co bought a new position in W&T Offshore during the 1st quarter worth about $36,000. Finally, Pinnacle Wealth Planning Services Inc. bought a new stake in shares of W&T Offshore in the 1st quarter valued at about $42,000. 42.88% of the stock is currently owned by institutional investors.

About W&T Offshore

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.