FY2024 EPS Estimates for W&T Offshore Cut by Roth Capital

W&T Offshore, Inc. (NYSE:WTI) – Equities researchers at Roth Capital decreased their FY2024 earnings per share estimates for W&T Offshore in a report released on Thursday, November 21st. Roth Capital analyst J. White now anticipates that the oil and gas company will earn ($0.52) per share for the year, down from their prior forecast of ($0.46). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.49) per share. Roth Capital also issued estimates for W&T Offshore’s Q4 2024 earnings at ($0.25) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at ($0.12) EPS, Q4 2025 earnings at ($0.11) EPS and FY2025 earnings at ($0.46) EPS.

Separately, StockNews.com lowered shares of W&T Offshore from a “hold” rating to a “sell” rating in a research note on Thursday, September 19th.

W&T Offshore Trading Down 0.5 %

NYSE:WTI opened at $1.97 on Monday. The company’s 50 day moving average is $2.16 and its 200-day moving average is $2.21. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 75.32. W&T Offshore has a 12 month low of $1.92 and a 12 month high of $3.55. The firm has a market cap of $290.30 million, a price-to-earnings ratio of -4.58 and a beta of 1.40.

Institutional Investors Weigh In On W&T Offshore

Several hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd bought a new position in W&T Offshore during the first quarter worth $629,000. Price T Rowe Associates Inc. MD increased its holdings in shares of W&T Offshore by 26.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 29,409 shares of the oil and gas company’s stock worth $78,000 after purchasing an additional 6,187 shares during the period. Paloma Partners Management Co acquired a new position in shares of W&T Offshore during the first quarter valued at about $36,000. Bayesian Capital Management LP bought a new stake in shares of W&T Offshore in the first quarter valued at about $56,000. Finally, Jacobs Levy Equity Management Inc. grew its position in W&T Offshore by 174.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 397,451 shares of the oil and gas company’s stock worth $1,053,000 after buying an additional 252,394 shares in the last quarter. 42.88% of the stock is owned by institutional investors.

W&T Offshore Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.04 annualized dividend and a yield of 2.03%. W&T Offshore’s payout ratio is -9.30%.

About W&T Offshore

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.