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

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Tuesday, August 6th, NASDAQ reports. Shareholders of record on Tuesday, August 20th will be given a dividend of 0.01 per share by the oil and gas company on Tuesday, August 27th. This represents a $0.04 annualized dividend and a yield of 1.78%. The ex-dividend date is Tuesday, August 20th.

W&T Offshore has a dividend payout ratio of -16.7% 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 ($0.27) 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 -14.8%.

W&T Offshore Stock Performance

Shares of WTI opened at $2.25 on Monday. The company’s 50 day simple moving average is $2.24 and its 200-day simple moving average is $2.45. W&T Offshore has a 12-month low of $1.99 and a 12-month high of $4.51. The firm has a market cap of $330.43 million, a PE ratio of -15.00 and a beta of 1.40. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 75.32.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. The business had revenue of $142.70 million for the quarter, compared to analysts’ expectations of $148.05 million. During the same period in the previous year, the business posted ($0.08) earnings per share. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities analysts predict that W&T Offshore will post -0.17 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on WTI shares. Stifel Nicolaus upped their price target on W&T Offshore from $7.50 to $7.80 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. StockNews.com upgraded shares of W&T Offshore from a “sell” rating to a “hold” rating in a research report on Thursday.

About W&T Offshore

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.