W&T Offshore (NYSE:WTI) Posts Earnings Results

by · The Cerbat Gem

W&T Offshore (NYSE:WTI – Get Free Report) posted its quarterly earnings data on Wednesday. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02), FiscalAI reports. The company had revenue of $162.62 million during the quarter, compared to analysts’ expectations of $157.46 million.

W&T Offshore Price Performance

Shares of WTI traded down $0.14 during mid-day trading on Wednesday, reaching $3.29. The company’s stock had a trading volume of 4,809,559 shares, compared to its average volume of 6,004,666. W&T Offshore has a 12-month low of $1.50 and a 12-month high of $5.08. The stock has a market cap of $488.74 million, a PE ratio of -3.46 and a beta of 0.24. The company’s 50 day moving average is $3.52 and its 200 day moving average is $3.23.

W&T Offshore Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Thursday, May 21st were issued a $0.01 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.2%. W&T Offshore’s dividend payout ratio is presently -4.21%.

Analysts Set New Price Targets

WTI has been the topic of a number of recent research reports. Wall Street Zen lowered W&T Offshore from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of W&T Offshore in a report on Friday, July 17th. Roth Capital set a $4.25 target price on W&T Offshore in a research note on Tuesday, July 21st. Finally, William Blair assumed coverage on W&T Offshore in a report on Friday, April 17th. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.25.

Read Our Latest Stock Report on W&T Offshore

Institutional Investors Weigh In On W&T Offshore

Institutional investors have recently added to or reduced their stakes in the business. StoneX Group Inc. purchased a new position in W&T Offshore in the fourth quarter valued at approximately $28,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of W&T Offshore during the 3rd quarter worth approximately $32,000. Oxford Asset Management LLP purchased a new stake in shares of W&T Offshore during the 2nd quarter worth approximately $29,000. Engineers Gate Manager LP acquired a new position in shares of W&T Offshore in the 4th quarter valued at $32,000. Finally, Raymond James Financial Inc. raised its stake in W&T Offshore by 42.7% during the 2nd quarter. Raymond James Financial Inc. now owns 21,957 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 6,569 shares in the last quarter. Hedge funds and other institutional investors own 42.88% of the company’s stock.

About W&T Offshore

(Get Free Report)

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.

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