Q1 2024 EPS Estimates for W&T Offshore, Inc. Decreased by Roth Capital (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) – Roth Capital reduced their Q1 2024 earnings estimates for W&T Offshore in a note issued to investors on Monday, April 15th. Roth Capital analyst J. White now anticipates that the oil and gas company will post earnings of ($0.02) per share for the quarter, down from their prior forecast of $0.01. The consensus estimate for W&T Offshore’s current full-year earnings is $0.07 per share. Roth Capital also issued estimates for W&T Offshore’s Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at ($0.04) EPS, Q4 2024 earnings at ($0.02) EPS and FY2024 earnings at ($0.15) EPS.

Separately, Stifel Nicolaus upped their target price on shares of W&T Offshore from $7.60 to $7.90 and gave the stock a “buy” rating in a research report on Tuesday, January 23rd.

W&T Offshore Price Performance

Shares of W&T Offshore stock opened at $2.41 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 11.58. The stock has a market capitalization of $353.93 million, a price-to-earnings ratio of 24.10 and a beta of 1.52. W&T Offshore has a 1-year low of $2.41 and a 1-year high of $4.92. The firm’s 50-day moving average price is $2.74 and its two-hundred day moving average price is $3.21.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Tuesday, March 5th. The oil and gas company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.08). The firm had revenue of $132.30 million for the quarter, compared to the consensus estimate of $138.23 million. W&T Offshore had a negative return on equity of 71.70% and a net margin of 2.93%. W&T Offshore’s quarterly revenue was down 30.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 earnings per share.

Institutional Investors Weigh In On W&T Offshore

Several hedge funds have recently bought and sold shares of the company. Sanders Morris Harris LLC bought a new stake in shares of W&T Offshore during the first quarter worth $26,000. Signaturefd LLC increased its position in shares of W&T Offshore by 907.2% during the fourth quarter. Signaturefd LLC now owns 8,390 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 7,557 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of W&T Offshore during the first quarter worth $33,000. US Bancorp DE increased its position in shares of W&T Offshore by 527.0% during the fourth quarter. US Bancorp DE now owns 11,280 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 9,481 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of W&T Offshore during the second quarter worth $43,000. 42.88% of the stock is currently owned by institutional investors and hedge funds.

W&T Offshore Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were issued a $0.01 dividend. The ex-dividend date of this dividend was Friday, March 15th. This represents a $0.04 annualized dividend and a yield of 1.66%. W&T Offshore’s dividend payout ratio (DPR) is presently 40.00%.

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.