Q1 2024 EPS Estimates for W&T Offshore, Inc. (NYSE:WTI) Lowered by Zacks Research

W&T Offshore, Inc. (NYSE:WTI) – Analysts at Zacks Research decreased their Q1 2024 earnings estimates for W&T Offshore in a report issued on Monday, April 22nd. Zacks Research analyst A. Kanoria now forecasts that the oil and gas company will post earnings per share of ($0.02) for the quarter, down from their prior estimate of $0.02. 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 Q2 2024 earnings at ($0.03) EPS, Q3 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.07) EPS, Q4 2025 earnings at ($0.01) EPS, FY2025 earnings at $0.03 EPS and FY2026 earnings at $0.09 EPS.

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

W&T Offshore Stock Down 1.0 %

Shares of W&T Offshore stock opened at $2.38 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 11.58. The company’s fifty day simple moving average is $2.70 and its two-hundred day simple moving average is $3.16. The company has a market cap of $348.79 million, a P/E ratio of 23.75 and a beta of 1.52. W&T Offshore has a 12-month low of $2.32 and a 12-month high of $4.54.

W&T Offshore (NYSE:WTI) last posted its earnings results on Tuesday, March 5th. The oil and gas company reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $132.30 million during the quarter, compared to analysts’ expectations of $138.23 million. During the same quarter in the previous year, the business earned $0.10 EPS. W&T Offshore’s revenue for the quarter was down 30.3% on a year-over-year basis.

Hedge Funds Weigh In On W&T Offshore

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC increased its holdings in W&T Offshore by 907.2% in the 4th 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 in the last quarter. Sanders Morris Harris LLC purchased a new stake in W&T Offshore in the 1st quarter worth approximately $26,000. Norden Group LLC purchased a new stake in W&T Offshore in the 1st quarter worth approximately $29,000. SG Americas Securities LLC bought a new stake in W&T Offshore in the third quarter worth $51,000. Finally, Quadrant Capital Group LLC lifted its position in W&T Offshore by 131.6% in the fourth quarter. Quadrant Capital Group LLC now owns 15,607 shares of the oil and gas company’s stock worth $51,000 after buying an additional 8,869 shares during the last quarter. Institutional investors own 42.88% of the company’s stock.

W&T Offshore Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 18th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend was Friday, March 15th. W&T Offshore’s payout ratio is 40.00%.

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.