W&T Offshore, Inc. (NYSE:WTI) Shareholders Set to Receive $0.01 Quarterly Dividend

Key Points

• W&T Offshore declared a quarterly dividend of $0.01 per share, payable November 19 to shareholders of record on November 12. The annualized dividend is $0.04 per share, representing a 1.0% yield.
• The dividend may be financially difficult to sustain: the company’s payout ratio is -8.5%, and analysts expect negative earnings of $0.08 per share next year.
• W&T Offshore reported quarterly EPS of $0.01, beating the $0.06 loss analysts expected, while revenue of $167.08 million also exceeded estimates. Institutional investors own approximately 42.88% of the company.

W&T Offshore, Inc. (NYSE:WTI - Get Free Report) announced a quarterly dividend on Thursday, October 29th. Investors of record on Thursday, November 12th will be paid a dividend of $0.01 per share by the oil and gas company on Thursday, November 19th. This represents a $0.04 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Thursday, November 12th.

W&T Offshore has a payout ratio of -8.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect W&T Offshore to earn ($0.08) per share next year, which means the company may not be able to cover its $0.04 annual dividend with an expected future payout ratio of -50.0%.

W&T Offshore Stock Down 4.1%

WTI opened at $4.04 on Friday. W&T Offshore has a 52 week low of $1.50 and a 52 week high of $5.08. The stock has a market cap of $610.55 million, a PE ratio of -5.54 and a beta of 0.35. The business has a 50 day moving average of $3.82 and a 200-day moving average of $3.38.

W&T Offshore (NYSE:WTI - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.07. The firm had revenue of $167.08 million during the quarter, compared to the consensus estimate of $144.97 million. Equities analysts anticipate that W&T Offshore will post -0.09 EPS for the current year.

Institutional Investors Weigh In On W&T Offshore

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in shares of W&T Offshore during the 2nd quarter valued at approximately $28,000. Nierenberg Investment Management Company LLC acquired a new position in shares of W&T Offshore during the 2nd quarter worth $42,698. Corient Private Wealth LP acquired a new stake in W&T Offshore in the 2nd quarter valued at about $45,000. Callan Family Office LLC acquired a new stake in shares of W&T Offshore in the second quarter valued at approximately $47,000. Finally, Simplicity Wealth LLC purchased a new position in shares of W&T Offshore during the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 42.88% of the company's stock.

W&T Offshore Company Profile

W&T Offshore, Inc is an independent oil and natural gas exploration and production company focused on the U.S. Gulf of Mexico. The company explores for, develops, and produces crude oil, natural gas, and natural gas liquids from offshore properties.

W&T Offshore's operations have included assets in the federal and state waters of the Gulf of Mexico, spanning shelf and deepwater areas. Its activities include acquiring exploration and production interests, drilling and completing wells, and managing offshore production and related infrastructure.

Founded in 1983 by Tracy W.

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