Zacks Research Comments on W&T Offshore, Inc.’s FY2024 Earnings (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) – Analysts at Zacks Research decreased their FY2024 earnings per share estimates for W&T Offshore in a report issued on Thursday, September 12th. Zacks Research analyst N. Banerjee now forecasts that the oil and gas company will earn ($0.31) per share for the year, down from their previous forecast of ($0.29). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.34) per share. Zacks Research also issued estimates for W&T Offshore’s Q4 2024 earnings at ($0.10) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.10) EPS and Q1 2026 earnings at $0.02 EPS.

Separately, StockNews.com upgraded shares of W&T Offshore from a “sell” rating to a “hold” rating in a research report on Wednesday, September 11th.

W&T Offshore Stock Performance

Shares of NYSE WTI opened at $2.04 on Monday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 75.32. The company has a market capitalization of $298.85 million, a P/E ratio of -13.60 and a beta of 1.40. W&T Offshore has a 12 month low of $1.92 and a 12 month high of $4.47. The stock has a 50 day moving average of $2.25 and a 200-day moving average of $2.34.

W&T Offshore (NYSE:WTI) last posted its earnings results on Tuesday, August 6th. 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). W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. The business had revenue of $142.70 million for the quarter, compared to the consensus estimate of $148.05 million. During the same period in the previous year, the company posted ($0.08) earnings per share. W&T Offshore’s revenue for the quarter was up 13.1% compared to the same quarter last year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Huber Capital Management LLC raised its stake in shares of W&T Offshore by 23.0% during the 1st quarter. Huber Capital Management LLC now owns 4,032,480 shares of the oil and gas company’s stock worth $10,686,000 after purchasing an additional 753,237 shares during the period. GSA Capital Partners LLP bought a new stake in W&T Offshore during the first quarter valued at approximately $1,652,000. Russell Investments Group Ltd. grew its position in W&T Offshore by 33.6% in the first quarter. Russell Investments Group Ltd. now owns 1,135,748 shares of the oil and gas company’s stock worth $3,010,000 after acquiring an additional 285,493 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of W&T Offshore by 197.3% in the 2nd quarter. Squarepoint Ops LLC now owns 413,139 shares of the oil and gas company’s stock worth $884,000 after purchasing an additional 274,156 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in W&T Offshore by 174.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 397,451 shares of the oil and gas company’s stock worth $1,053,000 after buying an additional 252,394 shares in the last quarter. 42.88% of the stock is owned by institutional investors and hedge funds.

W&T Offshore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 20th were given a $0.01 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.97%. W&T Offshore’s dividend payout ratio (DPR) is presently -26.67%.

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.