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

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Tuesday, August 6th, NASDAQ reports. Investors of record on Tuesday, August 20th will be given a dividend of 0.01 per share by the oil and gas company on Tuesday, August 27th. This represents a $0.04 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, August 20th.

W&T Offshore has a dividend payout ratio of -16.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect W&T Offshore to earn ($0.27) 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 -14.8%.

W&T Offshore Trading Up 4.3 %

NYSE WTI traded up $0.09 during mid-day trading on Wednesday, hitting $2.20. The company’s stock had a trading volume of 3,624,570 shares, compared to its average volume of 2,270,855. The stock’s fifty day simple moving average is $2.23 and its two-hundred day simple moving average is $2.50. W&T Offshore has a 52-week low of $1.99 and a 52-week high of $4.51. The company has a debt-to-equity ratio of 18.51, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $323.09 million, a P/E ratio of -15.00 and a beta of 1.40.

W&T Offshore (NYSE:WTI) last posted its earnings results 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 for the quarter, compared to analyst estimates of $148.05 million. W&T Offshore had a negative return on equity of 100.74% and a negative net margin of 4.04%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) earnings per share. Research analysts expect that W&T Offshore will post -0.17 EPS for the current year.

Analyst Ratings Changes

Separately, Stifel Nicolaus lifted their price target on shares of W&T Offshore from $7.50 to $7.80 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd.

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.