W&T Offshore (NYSE:WTI) Announces Quarterly Earnings Results

W&T Offshore (NYSE:WTI) announced its quarterly earnings results on Tuesday. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02), Briefing.com reports. W&T Offshore had a negative net margin of 4.51% and a negative return on equity of 82.54%. The company had revenue of $142.70 million for the quarter, compared to analysts’ expectations of $148.05 million. During the same period in the previous year, the business earned ($0.08) EPS. The business’s revenue was up 13.1% compared to the same quarter last year.

W&T Offshore Stock Performance

NYSE WTI traded up $0.04 during trading hours on Thursday, hitting $2.24. 877,482 shares of the company’s stock traded hands, compared to its average volume of 2,261,689. W&T Offshore has a 52 week low of $1.99 and a 52 week high of $4.51. The firm has a market capitalization of $328.97 million, a P/E ratio of -14.93 and a beta of 1.40. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 18.51. The business’s fifty day moving average price is $2.23 and its two-hundred day moving average price is $2.50.

W&T Offshore Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Tuesday, August 20th. W&T Offshore’s payout ratio is -26.66%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WTI shares. StockNews.com cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a report on Wednesday. Stifel Nicolaus lifted their price objective on W&T Offshore from $7.50 to $7.80 and gave the stock a “buy” rating in a report on Tuesday, April 23rd.

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.