W&T Offshore FY2024 EPS Forecast Decreased by Zacks Research

W&T Offshore, Inc. (NYSE:WTI) – Analysts at Zacks Research reduced their FY2024 earnings per share estimates for shares of W&T Offshore in a research report issued to clients and investors on Monday, January 20th. Zacks Research analyst R. Department now expects that the oil and gas company will earn ($0.49) per share for the year, down from their prior estimate of ($0.46). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.50) per share. Zacks Research also issued estimates for W&T Offshore’s Q4 2024 earnings at ($0.26) EPS, Q1 2025 earnings at ($0.15) EPS, Q2 2025 earnings at ($0.17) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.15) EPS, FY2025 earnings at ($0.62) EPS, Q1 2026 earnings at ($0.06) EPS, Q2 2026 earnings at ($0.05) EPS, Q3 2026 earnings at ($0.04) EPS, Q4 2026 earnings at ($0.04) EPS and FY2026 earnings at ($0.19) EPS.

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

W&T Offshore Price Performance

Shares of NYSE WTI opened at $1.72 on Thursday. 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’s 50-day simple moving average is $1.76 and its 200 day simple moving average is $2.06. The stock has a market cap of $252.72 million, a price-to-earnings ratio of -3.99 and a beta of 1.34. W&T Offshore has a fifty-two week low of $1.33 and a fifty-two week high of $3.28.

W&T Offshore (NYSE:WTI) last issued its earnings results on Thursday, November 7th. The oil and gas company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. The company had revenue of $121.37 million for the quarter, compared to analyst estimates of $136.01 million. W&T Offshore had a negative return on equity of 775.16% and a negative net margin of 11.95%. During the same period in the prior year, the firm earned $0.01 earnings per share.

W&T Offshore Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 21st were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Thursday, November 21st. W&T Offshore’s dividend payout ratio is presently -9.30%.

Hedge Funds Weigh In On W&T Offshore

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. boosted its stake in W&T Offshore by 20.3% in the second quarter. American Century Companies Inc. now owns 207,886 shares of the oil and gas company’s stock valued at $445,000 after acquiring an additional 35,049 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in W&T Offshore by 122.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,211 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 16,614 shares during the last quarter. Sei Investments Co. purchased a new position in W&T Offshore in the second quarter valued at approximately $37,000. Evergreen Capital Management LLC increased its position in W&T Offshore by 127.7% in the second quarter. Evergreen Capital Management LLC now owns 34,412 shares of the oil and gas company’s stock worth $74,000 after buying an additional 19,296 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in W&T Offshore by 197.3% in the second quarter. Squarepoint Ops LLC now owns 413,139 shares of the oil and gas company’s stock worth $884,000 after buying an additional 274,156 shares during the last quarter. 42.88% of the stock is owned by hedge funds and other institutional investors.

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.