W&T Offshore, Inc. (WTI) to Issue Quarterly Dividend of $0.01 on May 28th

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Thursday, May 7th. Shareholders of record on Thursday, May 21st will be given a dividend of 0.01 per share by the oil and gas company on Thursday, May 28th. This represents a c) dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, May 21st.

W&T Offshore has a dividend payout ratio of -8.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect W&T Offshore to earn ($0.20) 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 -20.0%.

W&T Offshore Stock Up 3.5%

NYSE:WTI opened at $4.92 on Tuesday. The company has a market cap of $731.24 million, a P/E ratio of -5.17 and a beta of 0.29. W&T Offshore has a fifty-two week low of $1.34 and a fifty-two week high of $5.03. The firm’s 50 day moving average is $3.44 and its two-hundred day moving average is $2.51.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Thursday, May 7th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The business had revenue of $150.02 million for the quarter, compared to the consensus estimate of $138.41 million. Research analysts forecast that W&T Offshore will post -0.11 earnings per share for the current fiscal year.

About W&T Offshore

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.