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

Key Points

• W&T Offshore, Inc. declared a quarterly dividend of $0.01 per share, which will be paid to shareholders on August 25th, following the ex-dividend date of August 18th.
• The company has a negative payout ratio of -8.5%, indicating it is currently relying on its balance sheet rather than earnings to cover its dividend payments.
• In its latest earnings report, W&T Offshore reported an earnings per share loss of ($0.08), exceeding analysts' expectations but trailing in revenue, which was $122.37 million against an estimate of $131.30 million.

W&T Offshore, Inc. (NYSE:WTI - Get Free Report) declared a quarterly dividend on Tuesday, August 5th, Wall Street Journal reports. Shareholders of record on Monday, August 18th will be paid a dividend of 0.01 per share by the oil and gas company on Monday, August 25th. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, August 18th.

W&T Offshore has a 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. Equities 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 Stock Up 0.3%

NYSE:WTI traded up $0.01 on Friday, hitting $1.73. The stock had a trading volume of 1,342,646 shares, compared to its average volume of 1,487,123. The business's fifty day moving average is $1.80 and its 200 day moving average is $1.58. The company has a market cap of $255.89 million, a PE ratio of -2.27 and a beta of 0.70. W&T Offshore has a 52 week low of $1.09 and a 52 week high of $2.84.

W&T Offshore (NYSE:WTI - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.06. The firm had revenue of $122.37 million during the quarter, compared to the consensus estimate of $131.30 million. Equities analysts predict that W&T Offshore will post -0.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WTI. Ameriprise Financial Inc. lifted its holdings in shares of W&T Offshore by 427.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,831,604 shares of the oil and gas company's stock valued at $6,360,000 after purchasing an additional 3,104,484 shares in the last quarter. Huber Capital Management LLC lifted its holdings in W&T Offshore by 35.8% during the first quarter. Huber Capital Management LLC now owns 6,858,684 shares of the oil and gas company's stock worth $10,631,000 after acquiring an additional 1,808,234 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in W&T Offshore during the fourth quarter worth $1,608,000. Millennium Management LLC lifted its holdings in W&T Offshore by 24.2% during the first quarter. Millennium Management LLC now owns 3,071,610 shares of the oil and gas company's stock worth $4,761,000 after acquiring an additional 598,614 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in W&T Offshore by 142.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 839,446 shares of the oil and gas company's stock worth $1,301,000 after acquiring an additional 493,692 shares during the period. Institutional investors own 42.88% of the company's stock.

About W&T Offshore

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.