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

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Tuesday, August 6th, NASDAQ reports. Shareholders of record on Tuesday, August 20th will be paid a dividend of 0.01 per share by the oil and gas company on Tuesday, August 27th. This represents a $0.04 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Tuesday, August 20th.

W&T Offshore has a dividend payout ratio of -16.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect W&T Offshore to earn ($0.27) 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 -14.8%.

W&T Offshore Trading Up 4.3 %

WTI stock traded up $0.09 during trading on Wednesday, reaching $2.20. 3,624,570 shares of the stock were exchanged, compared to its average volume of 2,270,855. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 18.51. The business has a 50 day moving average price of $2.23 and a 200-day moving average price of $2.50. W&T Offshore has a 1 year low of $1.99 and a 1 year high of $4.51. The firm has a market capitalization of $323.09 million, a price-to-earnings ratio of -15.00 and a beta of 1.40.

W&T Offshore (NYSE:WTI) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). W&T Offshore had a negative return on equity of 100.74% and a negative net margin of 4.04%. The firm had revenue of $142.70 million for the quarter, compared to analysts’ expectations of $148.05 million. During the same period last year, the firm earned ($0.08) earnings per share. W&T Offshore’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, research analysts predict that W&T Offshore will post -0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lifted 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, April 23rd.

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.