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

W&T Offshore (NYSE:WTI) issued its quarterly earnings results on Tuesday. The oil and gas company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02), Briefing.com reports. The firm had revenue of $142.70 million during the quarter, compared to analysts’ expectations 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 firm’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.08) EPS.

W&T Offshore Trading Up 4.3 %

Shares of NYSE:WTI traded up $0.09 during mid-day trading on Wednesday, hitting $2.20. The stock had a trading volume of 3,624,570 shares, compared to its average volume of 2,270,855. W&T Offshore has a 12-month low of $1.99 and a 12-month high of $4.51. The company has a debt-to-equity ratio of 18.51, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market cap of $323.09 million, a PE ratio of -14.67 and a beta of 1.40. The company’s 50 day moving average is $2.23 and its 200-day moving average is $2.50.

W&T Offshore Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.04 annualized dividend and a dividend yield of 1.82%. W&T Offshore’s dividend payout ratio (DPR) is presently -26.67%.

Analyst Ratings Changes

Separately, Stifel Nicolaus upped their price target on shares of W&T Offshore from $7.50 to $7.80 and gave the company a “buy” rating in a research report 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.