W&T Offshore, Inc. Forecasted to Earn Q1 2024 Earnings of ($0.02) Per Share (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI - Free Report) - Zacks Research lowered their Q1 2024 earnings per share (EPS) estimates for W&T Offshore in a research report issued on Monday, April 22nd. Zacks Research analyst A. Kanoria now expects that the oil and gas company will earn ($0.02) per share for the quarter, down from their previous forecast of $0.02. The consensus estimate for W&T Offshore's current full-year earnings is ($0.05) per share. Zacks Research also issued estimates for W&T Offshore's Q2 2024 earnings at ($0.03) EPS, Q3 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.01) EPS, FY2025 earnings at $0.03 EPS and FY2026 earnings at $0.09 EPS.

Separately, Stifel Nicolaus increased their target price on W&T Offshore from $7.50 to $7.80 and gave the company a "buy" rating in a report on Tuesday.

W&T Offshore Trading Down 1.2 %

W&T Offshore stock traded down $0.03 during midday trading on Wednesday, reaching $2.37. The stock had a trading volume of 1,236,850 shares, compared to its average volume of 2,784,771. W&T Offshore has a twelve month low of $2.32 and a twelve month high of $4.54. The company has a debt-to-equity ratio of 11.58, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $348.06 million, a price-to-earnings ratio of 23.70 and a beta of 1.52. The firm's fifty day simple moving average is $2.70 and its two-hundred day simple moving average is $3.16.

W&T Offshore (NYSE:WTI - Get Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The oil and gas company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.08). W&T Offshore had a net margin of 2.93% and a negative return on equity of 71.70%. The firm had revenue of $132.30 million for the quarter, compared to analysts' expectations of $138.23 million. During the same period in the prior year, the company posted $0.10 earnings per share. W&T Offshore's quarterly revenue was down 30.3% compared to the same quarter last year.

W&T Offshore Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 18th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Friday, March 15th. W&T Offshore's dividend payout ratio (DPR) is 40.00%.

Institutional Trading of W&T Offshore

Several institutional investors have recently made changes to their positions in the stock. Signaturefd LLC increased its stake in W&T Offshore by 907.2% in the 4th quarter. Signaturefd LLC now owns 8,390 shares of the oil and gas company's stock valued at $27,000 after buying an additional 7,557 shares during the period. Sanders Morris Harris LLC purchased a new position in shares of W&T Offshore during the 1st quarter valued at $26,000. Norden Group LLC acquired a new position in shares of W&T Offshore in the first quarter worth $29,000. SG Americas Securities LLC acquired a new position in shares of W&T Offshore in the third quarter worth $51,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of W&T Offshore by 131.6% during the fourth quarter. Quadrant Capital Group LLC now owns 15,607 shares of the oil and gas company's stock worth $51,000 after acquiring an additional 8,869 shares in the last quarter. 42.88% of the stock is currently owned by institutional investors and hedge funds.

About W&T Offshore

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.