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

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Thursday, November 7th,NASDAQ Dividends reports. Shareholders of record on Thursday, November 21st will be paid 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 dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, November 21st.

W&T Offshore has a 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. Research 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 Stock Performance

NYSE WTI opened at $2.14 on Friday. The business’s 50-day simple moving average is $2.17 and its 200-day simple moving average is $2.23. The firm has a market capitalization of $314.27 million, a P/E ratio of -12.59 and a beta of 1.40. W&T Offshore has a 1-year low of $1.92 and a 1-year high of $3.92. The company has a debt-to-equity ratio of 75.32, a current ratio of 1.06 and a quick ratio of 1.06.

W&T Offshore (NYSE:WTI) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). W&T Offshore had a negative net margin of 4.51% and a negative return on equity of 103.71%. The business had revenue of $142.70 million for the quarter, compared to analyst estimates of $148.05 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The business’s revenue was up 13.1% compared to the same quarter last year. Equities analysts predict that W&T Offshore will post -0.46 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com lowered W&T Offshore from a “hold” rating to a “sell” rating in a research 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.