Zacks Research Lowers Earnings Estimates for W&T Offshore

W&T Offshore, Inc. (NYSE:WTI) – Investment analysts at Zacks Research dropped their FY2024 earnings per share estimates for shares of W&T Offshore in a report issued on Monday, December 9th. Zacks Research analyst N. Banerjee now forecasts that the oil and gas company will post earnings per share of ($0.46) for the year, down from their previous estimate of ($0.44). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.49) per share. Zacks Research also issued estimates for W&T Offshore’s Q4 2024 earnings at ($0.19) EPS, Q1 2025 earnings at ($0.10) EPS, Q2 2025 earnings at ($0.11) EPS, Q3 2025 earnings at ($0.11) EPS, Q4 2025 earnings at ($0.09) EPS, FY2025 earnings at ($0.41) EPS, Q1 2026 earnings at ($0.01) EPS, Q2 2026 earnings at ($0.02) EPS and Q3 2026 earnings at $0.00 EPS.

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

W&T Offshore Stock Down 3.4 %

Shares of NYSE WTI opened at $1.70 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 75.32. The stock has a market capitalization of $250.51 million, a PE ratio of -3.95 and a beta of 1.35. W&T Offshore has a 12-month low of $1.69 and a 12-month high of $3.44. The stock’s fifty day simple moving average is $2.05 and its two-hundred day simple moving average is $2.16.

Hedge Funds Weigh In On W&T Offshore

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC raised its stake in shares of W&T Offshore by 197.3% during the 2nd quarter. Squarepoint Ops LLC now owns 413,139 shares of the oil and gas company’s stock valued at $884,000 after buying an additional 274,156 shares during the last quarter. Huber Capital Management LLC increased its stake in shares of W&T Offshore by 18.1% in the 2nd quarter. Huber Capital Management LLC now owns 4,763,734 shares of the oil and gas company’s stock valued at $10,194,000 after purchasing an additional 731,254 shares in the last quarter. Creative Planning increased its stake in shares of W&T Offshore by 14.4% in the 3rd quarter. Creative Planning now owns 286,747 shares of the oil and gas company’s stock valued at $617,000 after purchasing an additional 36,145 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of W&T Offshore by 17.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 47,209 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 7,142 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in shares of W&T Offshore in the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 42.88% of the company’s stock.

W&T Offshore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 21st were paid a $0.01 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.04 dividend on an annualized basis and a yield of 2.35%. W&T Offshore’s dividend payout ratio (DPR) is -9.30%.

W&T Offshore Company Profile

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.