Roth Capital Comments on W&T Offshore, Inc.’s Q3 2024 Earnings (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) – Analysts at Roth Capital cut their Q3 2024 earnings per share estimates for W&T Offshore in a note issued to investors on Thursday, October 10th. Roth Capital analyst J. White now anticipates that the oil and gas company will post earnings of ($0.19) per share for the quarter, down from their previous estimate of ($0.11). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.35) per share. Roth Capital also issued estimates for W&T Offshore’s Q4 2024 earnings at ($0.17) EPS, FY2024 earnings at ($0.46) EPS, Q2 2025 earnings at ($0.10) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.10) EPS and FY2025 earnings at ($0.36) EPS.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). W&T Offshore had a negative net margin of 4.51% and a negative return on equity of 103.71%. The company had revenue of $142.70 million for the quarter, compared to the consensus estimate of $148.05 million. During the same period last year, the firm posted ($0.08) earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year.

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

W&T Offshore Trading Down 4.7 %

Shares of WTI stock opened at $2.14 on Monday. The stock has a market cap of $313.55 million, a price-to-earnings ratio of -12.56 and a beta of 1.39. W&T Offshore has a 1-year low of $1.92 and a 1-year high of $4.32. 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 stock has a 50-day moving average of $2.21 and a 200-day moving average of $2.28.

W&T Offshore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Tuesday, August 20th. W&T Offshore’s payout ratio is currently -23.53%.

Hedge Funds Weigh In On W&T Offshore

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WTI. Sanders Morris Harris LLC bought a new position in shares of W&T Offshore in the first quarter worth approximately $26,000. CCG Wealth Management LLC bought a new stake in W&T Offshore during the 2nd quarter valued at about $26,000. Norden Group LLC bought a new position in W&T Offshore in the 1st quarter valued at approximately $29,000. Caprock Group LLC purchased a new position in shares of W&T Offshore in the second quarter worth $34,000. Finally, Paloma Partners Management Co bought a new position in W&T Offshore during the 1st quarter valued at about $36,000. 42.88% of the stock is currently owned by hedge funds and other institutional investors.

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.