W&T Offshore, Inc. (WTI) to Issue Quarterly Dividend of $0.01 on November 19th

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Thursday, October 29th. Investors of record on Thursday, November 12th will be paid a dividend of $0.01 per share by the oil and gas company on Thursday, November 19th. This represents a $0.04 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, November 12th.

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 ($0.03) 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 -133.3%.

W&T Offshore Trading Down 0.8%

W&T Offshore stock opened at $3.06 on Tuesday. The firm’s 50 day simple moving average is $3.77 and its 200 day simple moving average is $3.44. The firm has a market capitalization of $474.77 million, a PE ratio of -9.01 and a beta of 0.30. W&T Offshore has a 1-year low of $1.50 and a 1-year high of $5.08.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.07. The firm had revenue of $167.08 million during the quarter, compared to the consensus estimate of $144.97 million. Research analysts forecast that W&T Offshore will post -0.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WTI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a research note on Thursday, October 15th. Roth Capital set a $4.25 target price on W&T Offshore in a research note on Tuesday, July 21st. Wall Street Zen raised W&T Offshore from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Finally, Zacks Research upgraded W&T Offshore from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, W&T Offshore has a consensus rating of “Moderate Buy” and a consensus target price of $4.25.

W&T Offshore Company Profile

W&T Offshore, Inc is an independent oil and natural gas exploration and production company focused on the U.S. Gulf of Mexico. The company explores for, develops, and produces crude oil, natural gas, and natural gas liquids from offshore properties.

W&T Offshore’s operations have included assets in the federal and state waters of the Gulf of Mexico, spanning shelf and deepwater areas. Its activities include acquiring exploration and production interests, drilling and completing wells, and managing offshore production and related infrastructure.

Founded in 1983 by Tracy W.