W&T Offshore, Inc. to Issue Quarterly Dividend of $0.01 (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Wednesday, November 5th. Investors of record on Wednesday, November 19th will be given a dividend of 0.01 per share by the oil and gas company on Wednesday, November 26th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, November 19th.

W&T Offshore has a 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 research analysts expect W&T Offshore to earn ($0.43) 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 -9.3%.

W&T Offshore Stock Down 2.0%

NYSE:WTI opened at $1.93 on Thursday. The stock’s 50 day moving average price is $1.97 and its 200 day moving average price is $1.76. The company has a market capitalization of $286.29 million, a PE ratio of -2.54 and a beta of 0.59. W&T Offshore has a 52-week low of $1.09 and a 52-week high of $2.59.

W&T Offshore (NYSE:WTI) last announced its earnings results on Wednesday, November 5th. The oil and gas company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.10. As a group, sell-side analysts anticipate that W&T Offshore will post -0.45 EPS for the current fiscal year.

About W&T Offshore

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.