W&T Offshore (NYSE:WTI) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• W&T Offshore reported quarterly EPS of $0.01, beating the consensus estimate of a $0.06 loss by $0.07.
• Shares fell 4.1% to $4.04, despite trading above their 50-day and 200-day moving averages; the stock has ranged from $1.50 to $5.08 over the past year.
• The company paid a quarterly dividend of $0.01, equivalent to a 1.0% annualized yield. Analysts collectively rate the stock Hold, with a consensus price target of $4.25.

W&T Offshore (NYSE:WTI - Get Free Report) issued its earnings results on Thursday. The oil and gas company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.07, FiscalAI reports.

W&T Offshore Stock Down 4.1%

Shares of WTI traded down $0.17 on Thursday, hitting $4.04. The company's stock had a trading volume of 3,994,383 shares, compared to its average volume of 5,340,689. The firm's fifty day moving average price is $3.82 and its 200-day moving average price is $3.37. W&T Offshore has a fifty-two week low of $1.50 and a fifty-two week high of $5.08. The firm has a market capitalization of $610.56 million, a price-to-earnings ratio of -5.54 and a beta of 0.35.

W&T Offshore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 19th were given a $0.01 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.04 annualized dividend and a dividend yield of 1.0%. W&T Offshore's payout ratio is currently -5.48%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Roth Capital set a $4.25 price target on shares of W&T Offshore in a research report on Tuesday, July 21st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of W&T Offshore in a report on Thursday, October 15th. Finally, Wall Street Zen cut shares of W&T Offshore from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $4.25.

About W&T Offshore

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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