FY2024 Earnings Estimate for W&T Offshore, Inc. (NYSE:WTI) Issued By Zacks Research

W&T Offshore, Inc. (NYSE:WTI - Free Report) - Equities research analysts at Zacks Research lowered their FY2024 earnings estimates for W&T Offshore in a report released on Thursday, September 12th. Zacks Research analyst N. Banerjee now expects that the oil and gas company will post earnings per share of ($0.31) for the year, down from their previous estimate of ($0.29). The consensus estimate for W&T Offshore's current full-year earnings is ($0.34) per share. Zacks Research also issued estimates for W&T Offshore's Q4 2024 earnings at ($0.10) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.10) EPS and Q1 2026 earnings at $0.02 EPS.

Separately, StockNews.com upgraded W&T Offshore from a "sell" rating to a "hold" rating in a report on Wednesday, September 11th.

W&T Offshore Stock Performance

NYSE:WTI remained flat at $2.04 during mid-day trading on Monday. The company's stock had a trading volume of 810,490 shares, compared to its average volume of 2,104,763. The business has a 50-day simple moving average of $2.25 and a two-hundred day simple moving average of $2.34. The company has a market capitalization of $298.85 million, a price-to-earnings ratio of -13.60 and a beta of 1.40. W&T Offshore has a one year low of $1.92 and a one year high of $4.47. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 75.32.

W&T Offshore (NYSE:WTI - Get Free Report) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). W&T Offshore had a negative net margin of 4.51% and a negative return on equity of 103.71%. The business had revenue of $142.70 million during the quarter, compared to analysts' expectations of $148.05 million. During the same period in the prior year, the business posted ($0.08) EPS. The business's revenue was up 13.1% on a year-over-year basis.

Hedge Funds Weigh In On W&T Offshore

A number of institutional investors have recently added to or reduced their stakes in the company. Huber Capital Management LLC grew its stake in shares of W&T Offshore by 18.1% during the second quarter. Huber Capital Management LLC now owns 4,763,734 shares of the oil and gas company's stock valued at $10,194,000 after acquiring an additional 731,254 shares in the last quarter. Russell Investments Group Ltd. grew its stake in W&T Offshore by 33.6% during the 1st quarter. Russell Investments Group Ltd. now owns 1,135,748 shares of the oil and gas company's stock valued at $3,010,000 after purchasing an additional 285,493 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in W&T Offshore by 5.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,009,865 shares of the oil and gas company's stock worth $2,161,000 after purchasing an additional 50,094 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of W&T Offshore in the 1st quarter valued at approximately $1,652,000. Finally, Squarepoint Ops LLC boosted its stake in shares of W&T Offshore by 197.3% during the 2nd quarter. Squarepoint Ops LLC now owns 413,139 shares of the oil and gas company's stock valued at $884,000 after buying an additional 274,156 shares during the last quarter. Institutional investors and hedge funds own 42.88% of the company's stock.

W&T Offshore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Tuesday, August 20th. W&T Offshore's payout ratio is -26.67%.

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.