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

W&T Offshore, Inc. (NYSE:WTI) announced a quarterly dividend on Wednesday, August 5th. Shareholders of record on Wednesday, August 19th will be paid a dividend of 0.01 per share by the oil and gas company on Wednesday, August 26th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 19th.

W&T Offshore has a dividend payout ratio of -8.5% meaning 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 ($0.22) 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 -18.2%.

W&T Offshore Trading Down 3.9%

Shares of WTI opened at $3.29 on Thursday. W&T Offshore has a 12 month low of $1.50 and a 12 month high of $5.08. The firm’s 50 day moving average is $3.51 and its 200-day moving average is $3.24. The stock has a market capitalization of $488.74 million, a PE ratio of -3.46 and a beta of 0.24.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $162.62 million for the quarter, compared to analysts’ expectations of $157.46 million. Equities research analysts predict that W&T Offshore will post -0.11 earnings per share for the current fiscal year.

About W&T Offshore

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.