W&T Offshore, Inc. (NYSE:WTI) to Post Q1 2024 Earnings of ($0.02) Per Share, Roth Capital Forecasts

W&T Offshore, Inc. (NYSE:WTI) – Stock analysts at Roth Capital cut their Q1 2024 EPS estimates for shares of W&T Offshore in a research note issued to investors on Monday, April 15th. Roth Capital analyst J. White now anticipates that the oil and gas company will earn ($0.02) per share for the quarter, down from their prior estimate of $0.01. The consensus estimate for W&T Offshore’s current full-year earnings is $0.07 per share. Roth Capital also issued estimates for W&T Offshore’s Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at ($0.04) EPS, Q4 2024 earnings at ($0.02) EPS and FY2024 earnings at ($0.15) EPS.

Separately, Stifel Nicolaus upped their price objective on shares of W&T Offshore from $7.60 to $7.90 and gave the company a “buy” rating in a research note on Tuesday, January 23rd.

W&T Offshore Trading Down 3.6 %

NYSE:WTI opened at $2.41 on Wednesday. The firm’s fifty day moving average is $2.74 and its 200-day moving average is $3.21. The company has a debt-to-equity ratio of 11.58, a quick ratio of 1.22 and a current ratio of 1.22. W&T Offshore has a 52 week low of $2.41 and a 52 week high of $4.92. The firm has a market cap of $353.93 million, a P/E ratio of 24.10 and a beta of 1.52.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Tuesday, March 5th. The oil and gas company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). W&T Offshore had a net margin of 2.93% and a negative return on equity of 71.70%. The firm had revenue of $132.30 million during the quarter, compared to the consensus estimate of $138.23 million. During the same period in the prior year, the company posted $0.10 earnings per share. The company’s revenue for the quarter was down 30.3% compared to the same quarter last year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Signaturefd LLC boosted its stake in W&T Offshore by 907.2% during the fourth quarter. Signaturefd LLC now owns 8,390 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 7,557 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of W&T Offshore in the first quarter valued at $33,000. Sanders Morris Harris LLC bought a new position in shares of W&T Offshore in the first quarter valued at $26,000. Walleye Capital LLC bought a new position in shares of W&T Offshore in the second quarter valued at $43,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of W&T Offshore by 243.3% in the third quarter. Tower Research Capital LLC TRC now owns 10,663 shares of the oil and gas company’s stock valued at $47,000 after buying an additional 7,557 shares in the last quarter. 42.88% of the stock is owned by institutional investors.

W&T Offshore Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 18th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Friday, March 15th. W&T Offshore’s dividend payout ratio is presently 40.00%.

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.