W&T Offshore, Inc. (WTI) To Go Ex-Dividend on August 19th

W&T Offshore, Inc. (NYSE:WTI) announced a quarterly dividend on Wednesday, August 5th. Investors of record on Wednesday, August 19th will be given a dividend of 0.01 per share by the oil and gas company on Wednesday, August 26th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 19th.

W&T Offshore has a payout ratio of -8.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect W&T Offshore to earn ($0.22) 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 -18.2%.

W&T Offshore Stock Up 2.1%

Shares of WTI opened at $3.32 on Friday. The stock has a market cap of $493.79 million, a PE ratio of -4.55 and a beta of 0.24. The business has a 50-day simple moving average of $3.50 and a two-hundred day simple moving average of $3.25. W&T Offshore has a 12-month low of $1.50 and a 12-month high of $5.08.

W&T Offshore (NYSE:WTI) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $162.62 million during the quarter, compared to the consensus estimate of $157.46 million. On average, equities research analysts expect that W&T Offshore will post -0.11 EPS for the current year.

Analysts Set New Price Targets

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

W&T Offshore Company Profile

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.