W&T Offshore, Inc. Declares Quarterly Dividend of $0.01 (NYSE:WTI)

Key Points

• W&T Offshore declared a quarterly dividend of $0.01 per share (annualized $0.04), payable March 26 to shareholders of record March 19, implying a dividend yield of about 1.4%.
• The dividend appears not to be covered by earnings — WTI has a negative payout ratio (~-8.5%) and analysts forecast a loss of about $0.43 per share next year, raising sustainability concerns.
• Shares trade near $2.82 with a market cap of roughly $420 million, and institutional ownership is about 42.9% after notable stake increases from firms including Vanguard, Millennium and UBS.

W&T Offshore, Inc. (NYSE:WTI - Get Free Report) declared a quarterly dividend on Thursday, March 5th. Stockholders of record on Thursday, March 19th will be paid a dividend of 0.01 per share by the oil and gas company on Thursday, March 26th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Thursday, March 19th.

W&T Offshore has a dividend payout ratio of -8.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect W&T Offshore to earn ($0.43) 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 -9.3%.

W&T Offshore Price Performance

NYSE WTI opened at $2.82 on Friday. The firm has a market cap of $419.56 million, a P/E ratio of -2.85 and a beta of 0.26. The stock's 50-day moving average is $2.14 and its 200-day moving average is $1.97. W&T Offshore has a one year low of $1.09 and a one year high of $3.48.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WTI. Vanguard Group Inc. boosted its holdings in shares of W&T Offshore by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,828,361 shares of the oil and gas company's stock valued at $12,428,000 after purchasing an additional 19,283 shares in the last quarter. Millennium Management LLC boosted its position in W&T Offshore by 24.2% in the first quarter. Millennium Management LLC now owns 3,071,610 shares of the oil and gas company's stock valued at $4,761,000 after buying an additional 598,614 shares in the last quarter. State Street Corp increased its holdings in W&T Offshore by 0.5% in the 4th quarter. State Street Corp now owns 2,680,643 shares of the oil and gas company's stock worth $4,369,000 after purchasing an additional 14,426 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in W&T Offshore by 25.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,540,588 shares of the oil and gas company's stock valued at $4,141,000 after purchasing an additional 508,050 shares during the last quarter. Finally, UBS Group AG boosted its stake in shares of W&T Offshore by 381.1% during the fourth quarter. UBS Group AG now owns 2,400,024 shares of the oil and gas company's stock valued at $3,912,000 after purchasing an additional 1,901,213 shares in the last quarter. 42.88% of the stock is owned by institutional investors.

About W&T Offshore

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.

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