W&T Offshore, Inc. (NYSE:WTI) Declares Quarterly Dividend of $0.01

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Monday, March 3rd, Wall Street Journal reports. Stockholders of record on Monday, March 17th will be given a dividend of 0.01 per share by the oil and gas company on Monday, March 24th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Monday, March 17th.

W&T Offshore has a payout ratio of -400.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect W&T Offshore to earn ($0.43) per share next year, which means the company may not be able to cover its $0.04 annual dividend with an expected future payout ratio of -9.3%.

W&T Offshore Stock Performance

Shares of W&T Offshore stock traded down $0.06 during trading hours on Tuesday, reaching $1.48. The company had a trading volume of 5,382,673 shares, compared to its average volume of 1,569,385. W&T Offshore has a one year low of $1.30 and a one year high of $2.93. The business has a fifty day simple moving average of $1.69 and a 200 day simple moving average of $1.94. The company has a debt-to-equity ratio of 75.32, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $217.35 million, a PE ratio of -3.43 and a beta of 1.32.

Wall Street Analyst Weigh In

Separately, StockNews.com raised W&T Offshore from a “sell” rating to a “hold” rating in a report on Friday, December 13th.

W&T Offshore Company Profile

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.