Analysts Set Expectations for W&T Offshore FY2024 Earnings

W&T Offshore, Inc. (NYSE:WTI) – Investment analysts at Roth Capital lowered their FY2024 earnings per share estimates for shares of W&T Offshore in a research report issued to clients and investors on Thursday, November 21st. Roth Capital analyst J. White now expects that the oil and gas company will post earnings of ($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 Stock Performance

Shares of WTI opened at $1.92 on Monday. The company has a 50-day moving average of $2.16 and a two-hundred day moving average of $2.20. The stock has a market cap of $282.19 million, a price-to-earnings ratio of -4.49 and a beta of 1.40. The company has a debt-to-equity ratio of 75.32, a current ratio of 0.98 and a quick ratio of 0.98. W&T Offshore has a one year low of $1.90 and a one year high of $3.55.

Institutional Investors Weigh In On W&T Offshore

A number of institutional investors have recently bought and sold shares of WTI. Quadrature Capital Ltd purchased a new stake in shares of W&T Offshore in the first quarter worth approximately $629,000. Price T Rowe Associates Inc. MD lifted its position in W&T Offshore by 26.6% in 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 buying an additional 6,187 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of W&T Offshore during the 1st quarter valued at $36,000. Bayesian Capital Management LP purchased a new position in shares of W&T Offshore during the 1st quarter valued at $56,000. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of W&T Offshore by 174.0% in 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 acquiring an additional 252,394 shares during the last quarter. 42.88% of the stock is currently owned by institutional investors and hedge funds.

W&T Offshore Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, November 21st. W&T Offshore’s payout ratio is -9.30%.

W&T Offshore Company Profile

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.