FY2024 EPS Forecast for W&T Offshore Lowered by Analyst

W&T Offshore, Inc. (NYSE:WTI) – Stock analysts at Roth Capital lowered their FY2024 earnings per share (EPS) estimates for W&T Offshore in a research note issued to investors on Thursday, November 21st. Roth Capital analyst J. White now anticipates that the oil and gas company will post earnings per share of ($0.52) for the year, down from their previous estimate of ($0.46). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.49) per share. Roth Capital also issued estimates for W&T Offshore’s Q4 2024 earnings at ($0.25) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at ($0.12) EPS, Q4 2025 earnings at ($0.11) EPS and FY2025 earnings at ($0.46) EPS.

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

W&T Offshore Stock Up 0.5 %

Shares of NYSE:WTI opened at $1.98 on Monday. W&T Offshore has a fifty-two week low of $1.90 and a fifty-two week high of $3.55. The firm’s 50 day moving average price is $2.16 and its 200 day moving average price is $2.21. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 75.32. The stock has a market cap of $291.77 million, a price-to-earnings ratio of -4.60 and a beta of 1.40.

W&T Offshore Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 2.02%. The ex-dividend date is Thursday, November 21st. W&T Offshore’s dividend payout ratio is presently -9.30%.

Institutional Investors Weigh In On W&T Offshore

Hedge funds have recently modified their holdings of the stock. CCG Wealth Management LLC acquired a new position in W&T Offshore in the 2nd quarter valued at $26,000. Verum Partners LLC acquired a new position in shares of W&T Offshore during the third quarter worth about $32,000. Caprock Group LLC acquired a new position in shares of W&T Offshore during the second quarter worth about $34,000. Paloma Partners Management Co purchased a new position in W&T Offshore during the first quarter worth about $36,000. Finally, Sei Investments Co. purchased a new stake in W&T Offshore in the 2nd quarter valued at approximately $37,000. 42.88% of the stock is owned by institutional investors and hedge funds.

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.