Equities Analysts Issue Forecasts for W&T Offshore, Inc.’s Q3 2024 Earnings (NYSE:WTI)

W&T Offshore, Inc. (NYSE:WTI) – Equities research analysts at Roth Capital decreased their Q3 2024 earnings per share (EPS) estimates for shares of W&T Offshore in a note issued to investors on Thursday, October 10th. Roth Capital analyst J. White now expects that the oil and gas company will earn ($0.19) per share for the quarter, down from their previous forecast of ($0.11). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.35) per share. Roth Capital also issued estimates for W&T Offshore’s Q4 2024 earnings at ($0.17) EPS, FY2024 earnings at ($0.46) EPS, Q2 2025 earnings at ($0.10) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.10) EPS and FY2025 earnings at ($0.36) EPS.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $142.70 million during the quarter, compared to analyst estimates of $148.05 million. During the same period in the prior year, the business earned ($0.08) EPS. The business’s revenue for the quarter was up 13.1% on a year-over-year basis.

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

W&T Offshore Stock Performance

Shares of WTI stock opened at $1.99 on Monday. The company’s fifty day simple moving average is $2.21 and its 200-day simple moving average is $2.28. W&T Offshore has a 12 month low of $1.92 and a 12 month high of $4.32. The firm has a market cap of $291.51 million, a PE ratio of -13.23 and a beta of 1.39. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 75.32.

Institutional Trading of W&T Offshore

A number of institutional investors and hedge funds have recently bought and sold shares of WTI. Huber Capital Management LLC boosted its holdings in shares of W&T Offshore by 23.0% in the 1st quarter. Huber Capital Management LLC now owns 4,032,480 shares of the oil and gas company’s stock worth $10,686,000 after purchasing an additional 753,237 shares during the period. GSA Capital Partners LLP purchased a new position in W&T Offshore during the first quarter worth approximately $1,652,000. Russell Investments Group Ltd. raised its position in shares of W&T Offshore by 33.6% during the 1st quarter. Russell Investments Group Ltd. now owns 1,135,748 shares of the oil and gas company’s stock worth $3,010,000 after purchasing an additional 285,493 shares during the last quarter. Squarepoint Ops LLC grew its stake in W&T Offshore by 197.3% during the 2nd quarter. Squarepoint Ops LLC now owns 413,139 shares of the oil and gas company’s stock valued at $884,000 after acquiring an additional 274,156 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of W&T Offshore by 174.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 397,451 shares of the oil and gas company’s stock valued at $1,053,000 after buying an additional 252,394 shares during the period. 42.88% of the stock is currently owned by institutional investors.

W&T Offshore Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were issued a $0.01 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.04 annualized dividend and a dividend yield of 2.02%. W&T Offshore’s dividend payout ratio is currently -26.67%.

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.