W&T Offshore (NYSE:WTI) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

W&T Offshore (NYSE:WTI) issued its quarterly earnings data on Thursday. The oil and gas company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07, FiscalAI reports.

W&T Offshore Trading Down 4.1%

Shares of NYSE:WTI traded down $0.17 during mid-day trading on Thursday, reaching $4.04. The stock had a trading volume of 3,994,383 shares, compared to its average volume of 5,340,689. The company has a market cap of $610.56 million, a P/E ratio of -5.54 and a beta of 0.35. W&T Offshore has a 1 year low of $1.50 and a 1 year high of $5.08. The business’s 50 day moving average price is $3.82 and its 200 day moving average price is $3.37.

W&T Offshore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Wednesday, August 19th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Wednesday, August 19th. W&T Offshore’s payout ratio is currently -5.48%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wall Street Zen downgraded shares of W&T Offshore from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a research note on Thursday, October 15th. Finally, Roth Capital set a $4.25 price objective on W&T Offshore in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, W&T Offshore presently has a consensus rating of “Hold” and a consensus price target of $4.25.

W&T Offshore Company Profile

W&T Offshore, Inc is an independent oil and natural gas exploration and production company focused on the U.S. Gulf of Mexico. The company explores for, develops, and produces crude oil, natural gas, and natural gas liquids from offshore properties.

W&T Offshore’s operations have included assets in the federal and state waters of the Gulf of Mexico, spanning shelf and deepwater areas. Its activities include acquiring exploration and production interests, drilling and completing wells, and managing offshore production and related infrastructure.

Founded in 1983 by Tracy W.