Q1 2024 EPS Estimates for W&T Offshore, Inc. (NYSE:WTI) Lowered by Roth Capital

W&T Offshore, Inc. (NYSE:WTI) – Analysts at Roth Capital dropped their Q1 2024 EPS estimates for shares of W&T Offshore in a report issued on Monday, April 15th. Roth Capital analyst J. White now anticipates that the oil and gas company will post earnings of ($0.02) per share for the quarter, down from their previous estimate of $0.01. The consensus estimate for W&T Offshore’s current full-year earnings is ($0.05) per share. Roth Capital also issued estimates for W&T Offshore’s Q2 2024 earnings at ($0.07) EPS, Q3 2024 earnings at ($0.04) EPS, Q4 2024 earnings at ($0.02) EPS and FY2024 earnings at ($0.15) EPS.

W&T Offshore (NYSE:WTI) last issued its earnings results on Tuesday, March 5th. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.08). The firm had revenue of $132.30 million during the quarter, compared to the consensus estimate of $138.23 million. W&T Offshore had a net margin of 2.93% and a negative return on equity of 71.70%. The firm’s revenue for the quarter was down 30.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 earnings per share.

Separately, Stifel Nicolaus upped their price objective on W&T Offshore from $7.60 to $7.90 and gave the company a “buy” rating in a report on Tuesday, January 23rd.

W&T Offshore Stock Down 1.5 %

W&T Offshore stock opened at $2.38 on Wednesday. The company’s 50-day moving average price is $2.73 and its two-hundred day moving average price is $3.21. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 11.58. The stock has a market cap of $348.79 million, a P/E ratio of 23.75 and a beta of 1.52. W&T Offshore has a twelve month low of $2.37 and a twelve month high of $4.80.

W&T Offshore Dividend Announcement

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

Institutional Investors Weigh In On W&T Offshore

Institutional investors have recently made changes to their positions in the stock. Creative Planning lifted its position in shares of W&T Offshore by 15.9% during the 4th quarter. Creative Planning now owns 18,228 shares of the oil and gas company’s stock valued at $102,000 after acquiring an additional 2,503 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in W&T Offshore by 17.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 16,602 shares of the oil and gas company’s stock valued at $84,000 after buying an additional 2,522 shares during the period. FMR LLC raised its position in shares of W&T Offshore by 18.3% in the 1st quarter. FMR LLC now owns 16,581 shares of the oil and gas company’s stock valued at $84,000 after buying an additional 2,570 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of W&T Offshore by 5.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 53,026 shares of the oil and gas company’s stock valued at $296,000 after buying an additional 2,765 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of W&T Offshore by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 383,361 shares of the oil and gas company’s stock worth $1,947,000 after acquiring an additional 3,013 shares during the period. 42.88% of the stock is currently owned by institutional investors.

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.