W&T Offshore, Inc. (NYSE:WTI) Expected to Post Q3 2024 Earnings of ($0.11) Per Share

W&T Offshore, Inc. (NYSE:WTI) – Investment analysts at Roth Capital lowered their Q3 2024 earnings per share estimates for shares of W&T Offshore in a research report issued to clients and investors on Wednesday, August 14th. Roth Capital analyst J. White now expects that the oil and gas company will post earnings of ($0.11) per share for the quarter, down from their prior forecast of ($0.02). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.17) per share. Roth Capital also issued estimates for W&T Offshore’s Q4 2024 earnings at ($0.11) EPS, FY2024 earnings at ($0.39) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.09) EPS, Q4 2025 earnings at ($0.09) EPS and FY2025 earnings at ($0.34) EPS.

W&T Offshore (NYSE:WTI) last released its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. The firm had revenue of $142.70 million during the quarter, compared to analysts’ expectations of $148.05 million. During the same period last year, the business earned ($0.08) earnings per share. The business’s revenue was up 13.1% on a year-over-year basis.

A number of other research analysts also recently weighed in on the company. Stifel Nicolaus raised their price objective on W&T Offshore from $7.50 to $7.80 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. StockNews.com upgraded shares of W&T Offshore from a “sell” rating to a “hold” rating in a research note on Thursday.

W&T Offshore Stock Down 1.7 %

W&T Offshore stock opened at $2.25 on Friday. W&T Offshore has a twelve month low of $1.99 and a twelve month high of $4.51. The firm’s 50 day moving average price is $2.24 and its two-hundred day moving average price is $2.46. The company has a debt-to-equity ratio of 75.32, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market cap of $330.44 million, a PE ratio of -15.00 and a beta of 1.40.

Hedge Funds Weigh In On W&T Offshore

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new stake in W&T Offshore during the first quarter worth $1,652,000. Jacobs Levy Equity Management Inc. boosted its position in shares of W&T Offshore by 174.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 397,451 shares of the oil and gas company’s stock worth $1,053,000 after acquiring an additional 252,394 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of W&T Offshore by 33.6% in the 1st quarter. Russell Investments Group Ltd. now owns 1,135,748 shares of the oil and gas company’s stock valued at $3,010,000 after purchasing an additional 285,493 shares during the last quarter. Quadrature Capital Ltd bought a new position in W&T Offshore in the first quarter valued at about $629,000. Finally, Virtu Financial LLC acquired a new position in W&T Offshore during the 1st quarter worth approximately $191,000. 42.88% of the stock is owned by institutional investors and hedge funds.

W&T Offshore Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 20th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, August 20th. W&T Offshore’s payout ratio is presently -26.66%.

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.