W&T Offshore (NYSE:WTI) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

W&T Offshore (NYSE:WTI) issued its earnings results on Tuesday. The oil and gas company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02), Briefing.com reports. The company had revenue of $142.70 million during the quarter, compared to analyst estimates of $148.05 million. W&T Offshore had a negative net margin of 4.04% and a negative return on equity of 100.74%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) EPS.

W&T Offshore Trading Up 4.3 %

Shares of NYSE WTI traded up $0.09 during trading on Wednesday, reaching $2.20. The company had a trading volume of 3,624,570 shares, compared to its average volume of 2,270,855. The stock has a market cap of $323.09 million, a P/E ratio of -14.67 and a beta of 1.40. The company’s fifty day moving average price is $2.23 and its 200-day moving average price is $2.50. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 18.51. W&T Offshore has a 12 month low of $1.99 and a 12 month high of $4.51.

W&T Offshore Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 20th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.82%. The ex-dividend date is Tuesday, August 20th. W&T Offshore’s payout ratio is presently -26.67%.

Analyst Ratings Changes

Separately, Stifel Nicolaus lifted their price target on W&T Offshore from $7.50 to $7.80 and gave the company 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.