Zacks Research Decreases Earnings Estimates for W&T Offshore

W&T Offshore, Inc. (NYSE:WTI) – Stock analysts at Zacks Research cut their Q3 2024 EPS estimates for W&T Offshore in a research note issued to investors on Wednesday, October 16th. Zacks Research analyst N. Banerjee now forecasts that the oil and gas company will post earnings of ($0.19) per share for the quarter, down from their prior forecast of ($0.16). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.39) per share. Zacks Research 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 ($0.08) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.12) EPS and Q1 2026 earnings at ($0.03) EPS.

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

W&T Offshore Stock Performance

NYSE WTI opened at $2.11 on Friday. The company has a market cap of $309.87 million, a P/E ratio of -12.41 and a beta of 1.39. W&T Offshore has a 1-year low of $1.92 and a 1-year high of $4.32. The company has a debt-to-equity ratio of 75.32, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a 50-day moving average of $2.20 and a two-hundred day moving average of $2.28.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. The company had revenue of $142.70 million during the quarter, compared to analyst estimates of $148.05 million. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The business’s revenue was up 13.1% compared to the same quarter last year.

W&T Offshore Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 20th were paid a $0.01 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.04 annualized dividend and a dividend yield of 1.90%. W&T Offshore’s dividend payout ratio (DPR) is currently -23.53%.

Institutional Trading of W&T Offshore

Several hedge funds and other institutional investors have recently made changes to their positions in WTI. Price T Rowe Associates Inc. MD boosted its holdings in W&T Offshore by 26.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,409 shares of the oil and gas company’s stock worth $78,000 after buying an additional 6,187 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of W&T Offshore by 17.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 47,209 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 7,142 shares during the period. Sanders Morris Harris LLC purchased a new position in W&T Offshore in the 1st quarter valued at approximately $26,000. Norden Group LLC acquired a new position in W&T Offshore during the first quarter worth $29,000. Finally, CCG Wealth Management LLC purchased a new stake in W&T Offshore during the second quarter worth $26,000. Hedge funds and other institutional investors own 42.88% of the company’s stock.

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.