W&T Offshore, Inc. Expected to Post Q3 2024 Earnings of ($0.19) Per Share (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) – Equities research analysts at Roth Capital cut their Q3 2024 EPS estimates for shares of W&T Offshore in a note issued to investors on Thursday, October 10th. Roth Capital analyst J. White now forecasts that the oil and gas company will earn ($0.19) per share for the quarter, down from their previous estimate of ($0.11). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.35) per share. Roth Capital 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 ($0.10) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.10) EPS and FY2025 earnings at ($0.36) EPS.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data 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). W&T Offshore had a negative net margin of 4.51% and a negative return on equity of 103.71%. The company had revenue of $142.70 million for the quarter, compared to the consensus estimate of $148.05 million. During the same period last year, the business earned ($0.08) EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis.

Separately, StockNews.com cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a research report on Thursday, September 19th.

W&T Offshore Stock Down 6.8 %

WTI opened at $1.99 on Monday. The firm’s 50 day simple moving average is $2.21 and its two-hundred day simple moving average is $2.28. The company has a market capitalization of $291.51 million, a PE ratio of -13.23 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 75.32. W&T Offshore has a 1-year low of $1.92 and a 1-year high of $4.32.

W&T Offshore Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Tuesday, August 20th. W&T Offshore’s dividend payout ratio (DPR) is -26.67%.

Institutional Investors Weigh In On W&T Offshore

Several institutional investors have recently bought and sold shares of the company. Sanders Morris Harris LLC acquired a new stake in shares of W&T Offshore in the first quarter valued at $26,000. CCG Wealth Management LLC acquired a new position in shares of W&T Offshore in the second quarter worth $26,000. Norden Group LLC purchased a new position in shares of W&T Offshore during the 1st quarter worth $29,000. Caprock Group LLC acquired a new position in W&T Offshore during the second quarter worth approximately $34,000. Finally, Paloma Partners Management Co purchased a new position in shares of W&T Offshore in the 1st quarter worth about $36,000. 42.88% of the stock is currently owned by institutional investors and hedge funds.

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.