Q1 2024 EPS Estimates for W&T Offshore, Inc. Decreased by Analyst (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) – Equities research analysts at Roth Capital cut their Q1 2024 earnings estimates for W&T Offshore in a note issued to investors on Monday, April 15th. Roth Capital analyst J. White now anticipates that the oil and gas company will post earnings per share of ($0.02) for the quarter, down from their previous 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.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data 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 net margin of 2.93% and a negative return on equity of 71.70%. The company had revenue of $132.30 million for the quarter, compared to the consensus estimate of $138.23 million. During the same quarter in the previous year, the business earned $0.10 EPS. The company’s quarterly revenue was down 30.3% compared to the same quarter last year.

Separately, Stifel Nicolaus lifted their target price on shares of W&T Offshore from $7.60 to $7.90 and gave the stock a “buy” rating in a research note on Tuesday, January 23rd.

W&T Offshore Stock Performance

WTI stock traded down $0.09 during trading on Wednesday, reaching $2.41. The company had a trading volume of 2,352,604 shares, compared to its average volume of 2,854,467. The firm has a 50-day simple moving average of $2.75 and a 200-day simple moving average of $3.22. The company has a market cap of $353.93 million, a price-to-earnings ratio of 25.05 and a beta of 1.52. The company has a debt-to-equity ratio of 11.58, a quick ratio of 1.22 and a current ratio of 1.22. W&T Offshore has a twelve month low of $2.41 and a twelve month high of $4.92.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Sanders Morris Harris LLC purchased a new position in W&T Offshore during the first quarter worth about $26,000. Vanguard Group Inc. boosted its stake 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 worth $19,979,000 after buying an additional 144,541 shares during the period. Goldman Sachs Group Inc. boosted its stake 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 worth $2,069,000 after buying an additional 176,222 shares during the period. Barclays PLC boosted its stake in shares of W&T Offshore by 91.6% in 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 boosted its stake in shares of W&T Offshore by 1.4% in 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. Hedge funds and other institutional investors own 42.88% of the company’s stock.

W&T Offshore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.66%. The ex-dividend date was Friday, March 15th. W&T Offshore’s dividend payout ratio (DPR) is presently 40.00%.

W&T Offshore Company Profile

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.