W&T Offshore FY2024 EPS Forecast Reduced by Zacks Research

W&T Offshore, Inc. (NYSE:WTI - Free Report) - Equities research analysts at Zacks Research reduced their FY2024 earnings per share estimates for shares of W&T Offshore in a report issued on Monday, January 20th. Zacks Research analyst R. Department now expects that the oil and gas company will earn ($0.49) per share for the year, down from their previous estimate of ($0.46). The consensus estimate for W&T Offshore's current full-year earnings is ($0.49) per share. Zacks Research also issued estimates for W&T Offshore's Q4 2024 earnings at ($0.26) EPS, Q1 2025 earnings at ($0.15) EPS, Q2 2025 earnings at ($0.17) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.15) EPS, FY2025 earnings at ($0.62) EPS, Q1 2026 earnings at ($0.06) EPS, Q2 2026 earnings at ($0.05) EPS, Q3 2026 earnings at ($0.04) EPS, Q4 2026 earnings at ($0.04) EPS and FY2026 earnings at ($0.19) EPS.

Separately, StockNews.com raised shares of W&T Offshore from a "sell" rating to a "hold" rating in a report on Friday, December 13th.

W&T Offshore Price Performance

NYSE:WTI traded down $0.02 during mid-day trading on Thursday, hitting $1.72. 791,052 shares of the stock traded hands, compared to its average volume of 2,233,521. W&T Offshore has a 12-month low of $1.33 and a 12-month high of $3.28. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 75.32. The company has a market cap of $252.72 million, a PE ratio of -3.99 and a beta of 1.34. The business's 50-day moving average price is $1.77 and its 200 day moving average price is $2.06.

W&T Offshore (NYSE:WTI - Get Free Report) last posted its earnings results on Thursday, November 7th. The oil and gas company reported ($0.17) earnings per share for the quarter, beating analysts' consensus estimates of ($0.19) by $0.02. W&T Offshore had a negative return on equity of 775.16% and a negative net margin of 11.95%. The business had revenue of $121.37 million during the quarter, compared to analyst estimates of $136.01 million. During the same quarter in the previous year, the firm earned $0.01 EPS.

W&T Offshore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Thursday, November 21st were given a $0.01 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.33%. W&T Offshore's dividend payout ratio is currently -9.30%.

Institutional Investors Weigh In On W&T Offshore

Several large investors have recently bought and sold shares of the business. Verum Partners LLC purchased a new position in W&T Offshore during the 3rd quarter valued at about $32,000. Sei Investments Co. purchased a new stake in W&T Offshore during the 2nd quarter valued at about $37,000. R Squared Ltd acquired a new stake in W&T Offshore during the 4th quarter valued at approximately $54,000. Intech Investment Management LLC acquired a new stake in W&T Offshore during the 3rd quarter worth about $64,000. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in W&T Offshore by 122.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,211 shares of the oil and gas company's stock valued at $65,000 after acquiring an additional 16,614 shares during the period. Institutional investors own 42.88% of the company's stock.

W&T Offshore Company Profile

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.