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

W&T Offshore, Inc. (NYSE:WTI) – Zacks Research cut their Q1 2024 earnings per share estimates for W&T Offshore in a research note issued to investors on Monday, April 22nd. Zacks Research analyst A. Kanoria now anticipates that the oil and gas company will post earnings per share of ($0.02) for the quarter, down from their prior forecast of $0.02. The consensus estimate for W&T Offshore’s current full-year earnings is ($0.05) per share. Zacks Research also issued estimates for W&T Offshore’s Q2 2024 earnings at ($0.03) EPS, Q3 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.01) EPS, FY2025 earnings at $0.03 EPS and FY2026 earnings at $0.09 EPS.

Separately, Stifel Nicolaus increased their price target on W&T Offshore from $7.50 to $7.80 and gave the company a “buy” rating in a research note on Tuesday.

W&T Offshore Price Performance

Shares of WTI stock opened at $2.41 on Wednesday. W&T Offshore has a 1-year low of $2.32 and a 1-year high of $4.60. The stock’s 50-day moving average is $2.71 and its 200 day moving average is $3.18. The company has a market cap of $353.20 million, a P/E ratio of 24.05 and a beta of 1.52. The company has a debt-to-equity ratio of 11.58, a current ratio of 1.22 and a quick ratio of 1.22.

W&T Offshore (NYSE:WTI) last issued 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 period in the previous year, the business earned $0.10 EPS. W&T Offshore’s revenue for the quarter was down 30.3% compared to the same quarter last year.

W&T Offshore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis 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%.

Institutional Investors Weigh In On W&T Offshore

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norden Group LLC purchased a new stake in W&T Offshore in the first quarter valued at about $29,000. Sanders Morris Harris LLC purchased a new position in shares of W&T Offshore in the first quarter worth about $26,000. Capstone Investment Advisors LLC purchased a new position in shares of W&T Offshore in the fourth quarter worth about $214,000. RPO LLC purchased a new position in shares of W&T Offshore in the fourth quarter worth about $81,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of W&T Offshore in the fourth quarter worth about $382,000. 42.88% of the stock is currently owned by hedge funds and other institutional investors.

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.