W&T Offshore Earnings Estimates Revised Downwards

W&T Offshore, Inc. (NYSE:WTI – Free Report) has recently faced a downgrade in earnings estimates for the fiscal year 2024, as reported by investment analysts at Zacks Research on December 9th. Analyst N. Banerjee adjusted the forecast for the oil and gas company’s earnings per share from a previous estimate of ($0.44) to a new estimate of ($0.46). This revision reflects the company’s anticipated performance, which seems to be below expectations.

The consensus among analysts currently estimates W&T Offshore will report full-year earnings of ($0.49) per share. In addition, Zacks Research provided forecasts for upcoming quarterly earnings, expecting Q4 2024 to reflect ($0.19) EPS, Q1 2025 at ($0.10) EPS, Q2 2025 at ($0.11) EPS, Q3 2025 at ($0.11) EPS, and Q4 2025 at ($0.09) EPS. For FY2025, the forecast stands at ($0.41) EPS, and for Q1 2026, it is expected to be ($0.01) EPS, followed by Q2 2026 at ($0.02) EPS and Q3 2026 projected at $0.00 EPS.

In a separate update, StockNews.com has raised its rating for W&T Offshore from a “sell” to a “hold” position, reflecting a change in sentiment for the company.

Current Stock Performance

As for its stock performance, shares of NYSE WTI opened trading at $1.70 on Thursday, experiencing a 3.4% decline. The company has a current ratio and quick ratio both at 0.98, along with a high debt-to-equity ratio of 75.32. W&T Offshore has a market capitalization of approximately $250.51 million and a PE ratio of -3.95, indicating the challenges the company is facing financially. The stock has fluctuated between a 12-month low of $1.69 and a high of $3.44, with a fifty-day simple moving average at $2.05 and a two-hundred-day simple moving average at $2.16.

Institutional Investors Activity

Recent activities by institutional investors show a mix of actions regarding W&T Offshore stocks. Squarepoint Ops LLC significantly increased its stake by 197.3% in the second quarter, now owning 413,139 shares valued at $884,000. Huber Capital Management LLC also increased its holdings by 18.1%, now possessing 4,763,734 shares valued at $10,194,000 after an additional purchase of 731,254 shares. Creative Planning increased its stake by 14.4%, now holding 286,747 shares valued at $617,000, while The Manufacturers Life Insurance Company raised its position by 17.8%, now owning 47,209 shares valued at $101,000. Finally, Caprock Group LLC entered a new position valued at approximately $34,000. Overall, institutional investors hold about 42.88% of W&T Offshore's outstanding shares.

Dividends Announced

In recent news, W&T Offshore announced a quarterly dividend that was paid on November 29th. Shareholders of record on November 21st received a dividend of $0.01 per share, which reflects an annualized payout of $0.04 and offers a dividend yield of 2.35%. However, the company’s dividend payout ratio (DPR) stands at -9.30%, indicating that it is paying more in dividends than it earns.

Company Overview

W&T Offshore, Inc. is an independent oil and natural gas producer, primarily engaged in the acquisition, exploration, and development of oil and natural gas properties situated in the Gulf of Mexico. The company markets crude oil and condensate, natural gas liquids, and natural gas. Established in 1983, W&T Offshore is based in Houston, Texas.

W&T, Offshore, Earnings