FY2024 EPS Estimate for W&T Offshore Decreased by Analyst

W&T Offshore, Inc. (NYSE:WTI) – Equities research analysts at Roth Capital cut their FY2024 earnings per share estimates for W&T Offshore in a research note issued on Thursday, November 21st. Roth Capital analyst J. White now anticipates that the oil and gas company will post earnings per share of ($0.52) for the year, down from their previous forecast of ($0.46). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.49) per share. Roth Capital also issued estimates for W&T Offshore’s Q4 2024 earnings at ($0.25) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at ($0.12) EPS, Q4 2025 earnings at ($0.11) EPS and FY2025 earnings at ($0.46) EPS.

Separately, StockNews.com downgraded W&T Offshore from a “hold” rating to a “sell” rating in a report on Thursday, September 19th.

W&T Offshore Stock Performance

Shares of NYSE WTI opened at $1.92 on Monday. The business’s 50-day simple moving average is $2.16 and its 200-day simple moving average is $2.20. W&T Offshore has a 52 week low of $1.90 and a 52 week high of $3.55. The company has a debt-to-equity ratio of 75.32, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $282.19 million, a price-to-earnings ratio of -4.49 and a beta of 1.40.

Institutional Investors Weigh In On W&T Offshore

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CCG Wealth Management LLC bought a new stake in W&T Offshore during the 2nd quarter valued at approximately $26,000. Verum Partners LLC acquired a new position in shares of W&T Offshore during the third quarter worth approximately $32,000. Caprock Group LLC bought a new stake in shares of W&T Offshore in the second quarter valued at approximately $34,000. Paloma Partners Management Co acquired a new stake in shares of W&T Offshore in the first quarter worth $36,000. Finally, Sei Investments Co. bought a new position in W&T Offshore during the second quarter worth $37,000. 42.88% of the stock is owned by institutional investors and hedge funds.

W&T Offshore Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Thursday, November 21st. W&T Offshore’s dividend payout ratio is -9.30%.

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.