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

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Wednesday, November 5th. Investors of record on Wednesday, November 19th will be given a dividend of 0.01 per share by the oil and gas company on Wednesday, November 26th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 19th.

W&T Offshore has a dividend payout ratio of -8.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect W&T Offshore to earn ($0.43) 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 -9.3%.

W&T Offshore Trading Down 2.0%

NYSE:WTI opened at $1.93 on Thursday. W&T Offshore has a 1-year low of $1.09 and a 1-year high of $2.59. The firm has a fifty day simple moving average of $1.97 and a 200 day simple moving average of $1.76. The stock has a market capitalization of $286.29 million, a PE ratio of -2.54 and a beta of 0.59.

W&T Offshore (NYSE:WTI) last released its quarterly earnings data on Wednesday, November 5th. The oil and gas company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The company had revenue of $127.52 million for the quarter, compared to the consensus estimate of $125.69 million. On average, equities analysts predict that W&T Offshore will post -0.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On W&T Offshore

Hedge funds and other institutional investors have recently modified their holdings of the company. Oxford Asset Management LLP acquired a new stake in shares of W&T Offshore during the second quarter worth $29,000. HBK Sorce Advisory LLC acquired a new stake in shares of W&T Offshore during the third quarter worth $30,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of W&T Offshore during the third quarter worth $30,000. CWM LLC lifted its holdings in shares of W&T Offshore by 181.6% during the third quarter. CWM LLC now owns 16,908 shares of the oil and gas company’s stock worth $31,000 after buying an additional 10,904 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of W&T Offshore during the third quarter worth $34,000. Institutional investors and hedge funds own 42.88% of the company’s stock.

W&T Offshore Company Profile

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.