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

W&T Offshore (NYSE:WTI) issued its earnings results on Monday. The oil and gas company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08), Zacks reports.

W&T Offshore Stock Down 12.8%

WTI stock traded down $0.40 during midday trading on Tuesday, reaching $2.70. The company’s stock had a trading volume of 4,336,647 shares, compared to its average volume of 3,920,743. The business’s 50-day simple moving average is $2.20 and its 200-day simple moving average is $2.00. W&T Offshore has a 52 week low of $1.09 and a 52 week high of $4.04. The stock has a market cap of $400.96 million, a PE ratio of -2.72 and a beta of 0.26.

W&T Offshore Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have commented on WTI. Zacks Research cut W&T Offshore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WTI. StoneX Group Inc. bought a new stake in W&T Offshore in the fourth quarter worth about $28,000. Oxford Asset Management LLP acquired a new position in W&T Offshore in the 2nd quarter valued at about $29,000. Engineers Gate Manager LP acquired a new stake in shares of W&T Offshore during the fourth quarter worth about $32,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of W&T Offshore during the 3rd quarter valued at approximately $32,000. Finally, Raymond James Financial Inc. increased its position in W&T Offshore by 42.7% in the 2nd quarter. Raymond James Financial Inc. now owns 21,957 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 6,569 shares in the last quarter. 42.88% of the stock is currently owned by institutional investors.

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.