W&T Offshore, Inc. (WTI) To Go Ex-Dividend on August 19th

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Wednesday, August 5th. Investors of record on Wednesday, August 19th will be paid a dividend of 0.01 per share by the oil and gas company on Wednesday, August 26th. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, August 19th.

W&T Offshore has a payout ratio of -8.5% indicating that 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 ($0.17) 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 -23.5%.

W&T Offshore Stock Down 0.4%

WTI opened at $3.66 on Monday. W&T Offshore has a 52 week low of $1.50 and a 52 week high of $5.08. The business has a 50 day moving average price of $3.47 and a two-hundred day moving average price of $3.32. The company has a market cap of $551.84 million, a PE ratio of -5.01 and a beta of 0.24.

W&T Offshore (NYSE:WTI) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $162.62 million during the quarter, compared to the consensus estimate of $157.46 million. As a group, sell-side analysts expect that W&T Offshore will post -0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WTI shares. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a research report on Friday, July 17th. Roth Capital set a $4.25 price target on W&T Offshore in a research note on Tuesday, July 21st. Finally, Wall Street Zen cut W&T Offshore from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $4.25.

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.