W&T Offshore, Inc. (NYSE:WTI) Plans Quarterly Dividend of $0.01

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Thursday, November 7th,NASDAQ Dividends reports. Shareholders of record on Thursday, November 21st will be given a dividend of 0.01 per share by the oil and gas company on Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Thursday, November 21st.

W&T Offshore has a payout ratio of -10.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect W&T Offshore to earn ($0.36) 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 -11.1%.

W&T Offshore Stock Down 13.0 %

Shares of WTI traded down $0.32 during mid-day trading on Friday, reaching $2.14. 2,737,099 shares of the stock traded hands, compared to its average volume of 2,101,224. The firm has a market cap of $314.27 million, a price-to-earnings ratio of -12.59 and a beta of 1.40. The stock has a fifty day simple moving average of $2.17 and a 200 day simple moving average of $2.23. The company has a quick ratio of 1.06, a current ratio of 1.06 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 $3.92.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The firm had revenue of $142.70 million during the quarter, compared to analyst estimates of $148.05 million. W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) EPS. Sell-side analysts expect that W&T Offshore will post -0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.