W&T Offshore, Inc. Expected to Earn Q4 2024 Earnings of $0.01 Per Share (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) – Stock analysts at Zacks Research dropped their Q4 2024 earnings estimates for shares of W&T Offshore in a research note issued on Monday, April 22nd. Zacks Research analyst A. Kanoria now anticipates that the oil and gas company will earn $0.01 per share for the quarter, down from their prior forecast of $0.06. 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 Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.01 EPS, Q3 2025 earnings at $0.02 EPS and Q1 2026 earnings at $0.02 EPS.

Separately, Stifel Nicolaus increased their price objective on shares of W&T Offshore from $7.50 to $7.80 and gave the stock a “buy” rating in a research report on Tuesday.

W&T Offshore Stock Performance

W&T Offshore stock opened at $2.41 on Tuesday. 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 has a 1-year low of $2.32 and a 1-year high of $4.60. The firm has a market capitalization of $353.19 million, a P/E ratio of 24.05 and a beta of 1.52. The company’s 50-day moving average is $2.71 and its 200 day moving average is $3.18.

W&T Offshore (NYSE:WTI) last posted 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 negative return on equity of 71.70% and a net margin of 2.93%. The firm had revenue of $132.30 million during the quarter, compared to analysts’ expectations of $138.23 million. During the same period last year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was down 30.3% compared to the same quarter last year.

Hedge Funds Weigh In On W&T Offshore

A number of institutional investors have recently modified their holdings of the stock. Octavia Wealth Advisors LLC increased its position in shares of W&T Offshore by 51.4% during the fourth quarter. Octavia Wealth Advisors LLC now owns 18,315 shares of the oil and gas company’s stock worth $60,000 after acquiring an additional 6,215 shares during the period. Signaturefd LLC increased its position in shares of W&T Offshore by 907.2% during the fourth quarter. Signaturefd LLC now owns 8,390 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 7,557 shares during the period. SG Americas Securities LLC increased its position in shares of W&T Offshore by 72.3% during the fourth quarter. SG Americas Securities LLC now owns 20,206 shares of the oil and gas company’s stock worth $66,000 after acquiring an additional 8,478 shares during the period. Quadrant Capital Group LLC increased its position in shares of W&T Offshore by 131.6% during the fourth quarter. Quadrant Capital Group LLC now owns 15,607 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 8,869 shares during the period. Finally, Deutsche Bank AG increased its position in shares of W&T Offshore by 8.7% during the third quarter. Deutsche Bank AG now owns 114,419 shares of the oil and gas company’s stock worth $501,000 after acquiring an additional 9,146 shares during the period. 42.88% of the stock is owned by hedge funds and other institutional investors.

W&T Offshore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 18th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, March 15th. W&T Offshore’s dividend payout ratio (DPR) is presently 40.00%.

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.