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

W&T Offshore, Inc. (NYSE:WTI) announced a quarterly dividend on Thursday, November 7th,NASDAQ Dividends reports. Stockholders of record on Thursday, November 21st will be paid 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 dividend yield of 2.02%. The ex-dividend date is Thursday, November 21st.

W&T Offshore has a dividend 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 Price Performance

Shares of W&T Offshore stock opened at $1.98 on Wednesday. W&T Offshore has a 12-month low of $1.92 and a 12-month high of $3.75. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 75.32. The stock’s fifty day moving average is $2.16 and its 200-day moving average is $2.21.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of W&T Offshore from a “hold” rating to a “sell” rating in a research report 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.