W&T Offshore, Inc. (NYSE:WTI - Free Report) - Investment analysts at Roth Capital dropped their Q1 2024 earnings per share (EPS) estimates for shares of W&T Offshore in a report issued on Monday, April 15th. Roth Capital analyst J. White now expects that the oil and gas company will post earnings of ($0.02) per share for the quarter, down from their prior forecast of $0.01. The consensus estimate for W&T Offshore's current full-year earnings is $0.07 per share. Roth Capital also issued estimates for W&T Offshore's Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at ($0.04) EPS, Q4 2024 earnings at ($0.02) EPS and FY2024 earnings at ($0.15) EPS.
Separately, Stifel Nicolaus boosted their price objective on W&T Offshore from $7.60 to $7.90 and gave the stock a "buy" rating in a report on Tuesday, January 23rd.
Check Out Our Latest Stock Report on WTI
W&T Offshore Stock Down 3.6 %
WTI traded down $0.09 during midday trading on Wednesday, reaching $2.41. 2,352,093 shares of the company were exchanged, compared to its average volume of 2,857,287. The company has a debt-to-equity ratio of 11.58, a quick ratio of 1.22 and a current ratio of 1.22. The company's fifty day moving average price is $2.74 and its 200 day moving average price is $3.21. The company has a market cap of $353.93 million, a price-to-earnings ratio of 24.10 and a beta of 1.52. W&T Offshore has a one year low of $2.41 and a one year high of $4.92.
W&T Offshore (NYSE:WTI - Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The oil and gas company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.08). W&T Offshore had a negative return on equity of 71.70% and a net margin of 2.93%. The firm had revenue of $132.30 million for the quarter, compared to analyst estimates of $138.23 million. During the same period last year, the company posted $0.10 earnings per share. The firm's quarterly revenue was down 30.3% compared to the same quarter last year.
Hedge Funds Weigh In On W&T Offshore
Several institutional investors have recently modified their holdings of the business. Sanders Morris Harris LLC bought a new position in shares of W&T Offshore in the first quarter valued at approximately $26,000. Vanguard Group Inc. grew its holdings in W&T Offshore by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 6,128,403 shares of the oil and gas company's stock valued at $19,979,000 after purchasing an additional 144,541 shares during the period. Goldman Sachs Group Inc. grew its holdings in W&T Offshore by 38.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 634,659 shares of the oil and gas company's stock valued at $2,069,000 after purchasing an additional 176,222 shares during the period. Barclays PLC grew its holdings in W&T Offshore by 91.6% during the fourth quarter. Barclays PLC now owns 250,597 shares of the oil and gas company's stock valued at $816,000 after purchasing an additional 119,801 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in W&T Offshore by 1.4% during the fourth quarter. Nuveen Asset Management LLC now owns 255,452 shares of the oil and gas company's stock valued at $833,000 after purchasing an additional 3,588 shares during the period. 42.88% of the stock is owned by institutional investors.
W&T Offshore Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 18th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, March 15th. W&T Offshore's dividend payout ratio is presently 40.00%.
W&T Offshore Company Profile
(
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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.
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