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

W&T Offshore, Inc. (NYSE:WTI) announced a quarterly dividend on Thursday, November 7th,NASDAQ Dividends reports. Stockholders 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 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. Equities 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 Trading Down 13.0 %

Shares of WTI traded down $0.32 on Friday, hitting $2.14. 2,737,099 shares of the stock traded hands, compared to its average volume of 2,101,224. W&T Offshore has a 1 year low of $1.92 and a 1 year high of $3.92. The stock’s 50 day moving average is $2.17 and its two-hundred day 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. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 75.32.

W&T Offshore (NYSE:WTI) last posted 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). The business had revenue of $142.70 million for the quarter, compared to analyst estimates of $148.05 million. W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. W&T Offshore’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.08) EPS. As a group, sell-side analysts predict that W&T Offshore will post -0.46 earnings per share for the current year.

Analysts Set New Price Targets

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