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

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Thursday, November 7th,NASDAQ Dividends reports. Investors of record on Thursday, November 21st will be given a dividend of 0.01 per share by the oil and gas company on Friday, November 29th. This represents a $0.04 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Thursday, November 21st.

W&T Offshore has a dividend payout ratio of -10.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect W&T Offshore to earn ($0.36) 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 -11.1%.

W&T Offshore Trading Down 1.5 %

Shares of WTI opened at $1.98 on Wednesday. W&T Offshore has a 52 week low of $1.92 and a 52 week high of $3.75. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 75.32. The stock has a 50 day moving average of $2.16 and a 200-day moving average of $2.21.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a report on Thursday, September 19th.

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.