Zacks Research Has Negative View of W&T Offshore Q3 Earnings

W&T Offshore, Inc. (NYSE:WTI - Free Report) - Equities researchers at Zacks Research reduced their Q3 2024 EPS estimates for shares of W&T Offshore in a research report issued on Wednesday, October 16th. Zacks Research analyst N. Banerjee now expects that the oil and gas company will post earnings of ($0.19) per share for the quarter, down from their previous forecast of ($0.16). The consensus estimate for W&T Offshore's current full-year earnings is ($0.39) per share. Zacks Research also issued estimates for W&T Offshore's Q4 2024 earnings at ($0.17) EPS, FY2024 earnings at ($0.46) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.12) EPS and Q1 2026 earnings at ($0.03) EPS.

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

Separately, StockNews.com downgraded shares of W&T Offshore from a "hold" rating to a "sell" rating in a research note on Thursday, September 19th.

W&T Offshore Stock Up 1.0 %

NYSE WTI traded up $0.02 on Friday, reaching $2.11. The company had a trading volume of 1,237,085 shares, compared to its average volume of 2,138,298. The company's fifty day moving average is $2.20 and its 200-day moving average is $2.28. W&T Offshore has a 1-year low of $1.92 and a 1-year high of $4.32. The company has a debt-to-equity ratio of 75.32, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $309.87 million, a price-to-earnings ratio of -12.41 and a beta of 1.39.

W&T Offshore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were issued a $0.01 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.90%. W&T Offshore's payout ratio is -23.53%.

Institutional Investors Weigh In On W&T Offshore

Institutional investors and hedge funds have recently modified their holdings of the company. Sanders Morris Harris LLC bought a new stake in shares of W&T Offshore in the 1st quarter valued at about $26,000. CCG Wealth Management LLC bought a new position in W&T Offshore in the 2nd quarter valued at about $26,000. Norden Group LLC bought a new position in W&T Offshore in the 1st quarter valued at about $29,000. Verum Partners LLC bought a new position in W&T Offshore in the 3rd quarter valued at about $32,000. Finally, Caprock Group LLC bought a new position in W&T Offshore in the 2nd quarter valued at about $34,000. 42.88% of the stock is owned by institutional investors.

About W&T Offshore

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.