W&T Offshore FY2024 EPS Forecast Decreased by Zacks Research

W&T Offshore, Inc. (NYSE:WTI) – Zacks Research reduced their FY2024 earnings per share (EPS) estimates for W&T Offshore in a research note issued on Monday, January 20th. Zacks Research analyst R. Department now forecasts that the oil and gas company will post earnings of ($0.49) per share for the year, down from their prior estimate of ($0.46). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.49) per share. Zacks Research also issued estimates for W&T Offshore’s Q4 2024 earnings at ($0.26) EPS, Q1 2025 earnings at ($0.15) EPS, Q2 2025 earnings at ($0.17) EPS, Q3 2025 earnings at ($0.16) EPS, Q4 2025 earnings at ($0.15) EPS, FY2025 earnings at ($0.62) EPS, Q1 2026 earnings at ($0.06) EPS, Q2 2026 earnings at ($0.05) EPS, Q3 2026 earnings at ($0.04) EPS, Q4 2026 earnings at ($0.04) EPS and FY2026 earnings at ($0.19) EPS.

Separately, StockNews.com upgraded shares of W&T Offshore from a “sell” rating to a “hold” rating in a research report on Friday, December 13th.

W&T Offshore Price Performance

Shares of WTI opened at $1.72 on Thursday. The company has a debt-to-equity ratio of 75.32, a current ratio of 0.98 and a quick ratio of 0.98. W&T Offshore has a 1-year low of $1.33 and a 1-year high of $3.28. The stock has a market cap of $252.72 million, a PE ratio of -3.99 and a beta of 1.34. The firm has a fifty day moving average price of $1.76 and a 200 day moving average price of $2.06.

W&T Offshore (NYSE:WTI) last posted its earnings results on Thursday, November 7th. The oil and gas company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.02. The firm had revenue of $121.37 million during the quarter, compared to analysts’ expectations of $136.01 million. W&T Offshore had a negative return on equity of 775.16% and a negative net margin of 11.95%. During the same quarter in the previous year, the business earned $0.01 earnings per share.

Institutional Investors Weigh In On W&T Offshore

Large investors have recently added to or reduced their stakes in the business. Verum Partners LLC purchased a new stake in W&T Offshore in the 3rd quarter worth approximately $32,000. Sei Investments Co. acquired a new stake in shares of W&T Offshore during the second quarter worth $37,000. R Squared Ltd purchased a new stake in shares of W&T Offshore in the fourth quarter valued at $54,000. Intech Investment Management LLC purchased a new stake in shares of W&T Offshore in the third quarter valued at $64,000. Finally, Vanguard Personalized Indexing Management LLC increased its stake in W&T Offshore by 122.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 30,211 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 16,614 shares during the last quarter. 42.88% of the stock is owned by institutional investors and hedge funds.

W&T Offshore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 21st were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 2.33%. The ex-dividend date was Thursday, November 21st. W&T Offshore’s dividend payout ratio (DPR) is -9.30%.

About W&T Offshore

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.