W&T Offshore, Inc. Expected to Earn Q4 2024 Earnings of $0.01 Per Share (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) – Analysts at Zacks Research reduced their Q4 2024 EPS estimates for W&T Offshore in a research note issued to investors on Monday, April 22nd. Zacks Research analyst A. Kanoria now anticipates that the oil and gas company will post earnings of $0.01 per share for the quarter, down from their prior forecast of $0.06. The consensus estimate for W&T Offshore’s current full-year earnings is ($0.05) per share. Zacks Research also issued estimates for W&T Offshore’s Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.01 EPS, Q3 2025 earnings at $0.02 EPS and Q1 2026 earnings at $0.02 EPS.

Separately, Stifel Nicolaus boosted their target price 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.

W&T Offshore Stock Up 1.5 %

WTI stock opened at $2.41 on Tuesday. The stock has a market capitalization of $353.19 million, a P/E ratio of 24.05 and a beta of 1.52. The firm has a 50-day simple moving average of $2.71 and a 200-day simple moving average of $3.18. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 11.58. W&T Offshore has a 52 week low of $2.32 and a 52 week high of $4.60.

W&T Offshore (NYSE:WTI) last released its earnings results 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). The company had revenue of $132.30 million for the quarter, compared to analysts’ expectations of $138.23 million. W&T Offshore had a negative return on equity of 71.70% and a net margin of 2.93%. The firm’s revenue for the quarter was down 30.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 EPS.

Hedge Funds Weigh In On W&T Offshore

A number of institutional investors and hedge funds have recently bought and sold shares of WTI. Sanders Morris Harris LLC acquired a new position in W&T Offshore during the first quarter worth about $26,000. Signaturefd LLC boosted its holdings in W&T Offshore by 907.2% in the 4th quarter. Signaturefd LLC now owns 8,390 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 7,557 shares during the last quarter. Norden Group LLC acquired a new position in W&T Offshore in the 1st quarter valued at about $29,000. SG Americas Securities LLC acquired a new position in W&T Offshore in the 3rd quarter valued at about $51,000. Finally, Quadrant Capital Group LLC boosted its holdings in W&T Offshore by 131.6% in the 4th quarter. Quadrant Capital Group LLC now owns 15,607 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 8,869 shares during the last quarter. 42.88% of the stock is currently owned by institutional investors and hedge funds.

W&T Offshore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 18th were given a dividend of $0.01 per share. The ex-dividend date was Friday, March 15th. This represents a $0.04 dividend on an annualized basis and a yield of 1.66%. W&T Offshore’s 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.