Zacks Research Brokers Cut Earnings Estimates for W&T Offshore, Inc. (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) – Equities research analysts at Zacks Research reduced their Q4 2024 earnings per share (EPS) 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 of $0.01 per share for the quarter, down from their prior forecast of $0.06. 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 Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.01 EPS, Q3 2025 earnings at $0.02 EPS and Q1 2026 earnings at $0.02 EPS.

W&T Offshore (NYSE:WTI) last released its quarterly 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 company had revenue of $132.30 million for the quarter, compared to analyst estimates of $138.23 million. During the same quarter last year, the company earned $0.10 EPS. The firm’s revenue for the quarter was down 30.3% on a year-over-year basis.

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

W&T Offshore Price Performance

Shares of W&T Offshore stock opened at $2.38 on Tuesday. The stock has a market capitalization of $348.79 million, a P/E ratio of 23.75 and a beta of 1.52. The business has a 50 day simple moving average of $2.70 and a two-hundred day simple moving average of $3.16. W&T Offshore has a 12 month low of $2.32 and a 12 month high of $4.54. The company has a debt-to-equity ratio of 11.58, a current ratio of 1.22 and a quick ratio of 1.22.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC increased its holdings in shares of W&T Offshore by 140.7% in the third quarter. HighTower Advisors LLC now owns 1,988,620 shares of the oil and gas company’s stock valued at $8,691,000 after purchasing an additional 1,162,340 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new stake in W&T Offshore in the 3rd quarter valued at $3,870,000. Russell Investments Group Ltd. increased its stake in shares of W&T Offshore by 232.2% in the 4th quarter. Russell Investments Group Ltd. now owns 850,255 shares of the oil and gas company’s stock worth $2,772,000 after acquiring an additional 594,333 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of W&T Offshore in the 4th quarter worth $758,000. Finally, BNP Paribas Financial Markets boosted its position in shares of W&T Offshore by 81.2% during the 4th quarter. BNP Paribas Financial Markets now owns 262,124 shares of the oil and gas company’s stock valued at $855,000 after acquiring an additional 117,462 shares during the last quarter. 42.88% of the stock is owned by hedge funds and other institutional investors.

W&T Offshore Dividend Announcement

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