W&T Offshore (NYSE:WTI) Announces Earnings Results

W&T Offshore (NYSE:WTI) issued its quarterly earnings results on Monday. The oil and gas company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08), Zacks reports.

W&T Offshore Trading Down 12.8%

Shares of W&T Offshore stock traded down $0.40 during trading hours on Tuesday, reaching $2.70. The stock had a trading volume of 4,336,647 shares, compared to its average volume of 3,920,743. W&T Offshore has a 1 year low of $1.09 and a 1 year high of $4.04. The firm has a market capitalization of $400.96 million, a price-to-earnings ratio of -2.72 and a beta of 0.26. The firm has a 50 day simple moving average of $2.20 and a two-hundred day simple moving average of $2.00.

W&T Offshore Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 19th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $0.04 dividend on an annualized basis and a yield of 1.5%. W&T Offshore’s dividend payout ratio (DPR) is presently -4.04%.

Wall Street Analyst Weigh In

WTI has been the subject of several research reports. Zacks Research cut shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. StoneX Group Inc. purchased a new position in shares of W&T Offshore in the fourth quarter valued at $28,000. Oxford Asset Management LLP acquired a new stake in shares of W&T Offshore in the second quarter valued at $29,000. Engineers Gate Manager LP acquired a new position in shares of W&T Offshore during the fourth quarter worth about $32,000. Dynamic Technology Lab Private Ltd acquired a new stake in W&T Offshore in the 3rd quarter valued at $32,000. Finally, Raymond James Financial Inc. grew its stake in W&T Offshore by 42.7% during the second quarter. Raymond James Financial Inc. now owns 21,957 shares of the oil and gas company’s stock valued at $36,000 after acquiring an additional 6,569 shares in the last quarter. Institutional investors own 42.88% of the company’s stock.

W&T Offshore Company Profile

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.