Q3 2024 Earnings Estimate for W&T Offshore, Inc. Issued By Roth Capital (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) – Investment analysts at Roth Capital reduced their Q3 2024 earnings per share (EPS) estimates for W&T Offshore in a report released on Thursday, October 10th. Roth Capital analyst J. White now anticipates that the oil and gas company will earn ($0.19) per share for the quarter, down from their previous forecast 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.

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

W&T Offshore Price Performance

Shares of NYSE WTI opened at $2.24 on Monday. The stock has a fifty day simple moving average of $2.21 and a two-hundred day simple moving average of $2.29. W&T Offshore has a 1-year low of $1.92 and a 1-year high of $4.32. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 75.32. The firm has a market cap of $328.97 million, a price-to-earnings ratio of -13.18 and a beta of 1.39.

W&T Offshore (NYSE:WTI) last released its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) EPS 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 during the quarter, compared to the consensus estimate of $148.05 million. During the same quarter last year, the firm posted ($0.08) EPS. The company’s quarterly revenue was up 13.1% on a year-over-year basis.

W&T Offshore Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.01 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.04 annualized dividend and a yield of 1.79%. W&T Offshore’s dividend payout ratio (DPR) is currently -23.53%.

Institutional Investors Weigh In On W&T Offshore

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