W&T Offshore, Inc. to Post Q4 2024 Earnings of $0.01 Per Share, Zacks Research Forecasts (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) – Equities research analysts at Zacks Research cut their Q4 2024 EPS estimates for W&T Offshore in a note issued to investors on Monday, April 22nd. Zacks Research analyst A. Kanoria now expects that the oil and gas company will post earnings of $0.01 per share for the quarter, down from their prior estimate 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.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Tuesday, March 5th. The oil and gas company reported ($0.06) earnings per share 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 company had revenue of $132.30 million during the quarter, compared to analyst estimates of $138.23 million. During the same quarter last year, the business earned $0.10 EPS. The firm’s revenue for the quarter was down 30.3% compared to the same quarter last year.

Separately, Stifel Nicolaus lifted their price target on shares of W&T Offshore from $7.50 to $7.80 and gave the company a “buy” rating in a research report on Tuesday.

W&T Offshore Stock Performance

W&T Offshore stock opened at $2.38 on Tuesday. The company has a market cap of $348.79 million, a price-to-earnings ratio of 23.75 and a beta of 1.52. W&T Offshore has a 12 month low of $2.32 and a 12 month high of $4.54. The company has a debt-to-equity ratio of 11.58, a current ratio of 1.22 and a quick ratio of 1.22. The stock’s 50-day moving average is $2.70 and its 200-day moving average is $3.16.

W&T Offshore Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 18th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, March 15th. W&T Offshore’s dividend payout ratio is presently 40.00%.

Hedge Funds Weigh In On W&T Offshore

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanders Morris Harris LLC purchased a new stake in W&T Offshore during the 1st quarter worth $26,000. Signaturefd LLC increased its position in shares of 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 during the last quarter. Norden Group LLC acquired a new position in shares of W&T Offshore in the first quarter worth about $29,000. SG Americas Securities LLC purchased a new position in W&T Offshore in the third quarter valued at about $51,000. Finally, Quadrant Capital Group LLC boosted its holdings in W&T Offshore by 131.6% in the fourth 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 owned by institutional investors and hedge funds.

W&T Offshore Company Profile

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.