W&T Offshore, Inc. (NYSE:WTI) to Issue Quarterly Dividend of $0.01

W&T Offshore, Inc. (NYSE:WTI) announced a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Investors of record on Monday, March 17th will be paid a dividend of 0.01 per share by the oil and gas company on Monday, March 24th. This represents a $0.04 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Monday, March 17th.

W&T Offshore has a payout ratio of -400.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect W&T Offshore to earn ($0.43) per share next year, which means the company may not be able to cover its $0.04 annual dividend with an expected future payout ratio of -9.3%.

W&T Offshore Stock Performance

Shares of WTI traded down $0.06 during midday trading on Tuesday, reaching $1.48. 5,381,270 shares of the stock were exchanged, compared to its average volume of 1,569,385. W&T Offshore has a twelve month low of $1.30 and a twelve month high of $2.93. The company has a debt-to-equity ratio of 75.32, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $217.35 million, a price-to-earnings ratio of -3.43 and a beta of 1.32. The business’s 50-day moving average price is $1.69 and its 200 day moving average price is $1.94.

Wall Street Analysts Forecast Growth

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

W&T Offshore Company Profile

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.