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

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Thursday, May 7th. Shareholders of record on Thursday, May 21st will be given a dividend of 0.01 per share by the oil and gas company on Thursday, May 28th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, May 21st.

W&T Offshore has a dividend 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. Equities research analysts expect W&T Offshore to earn ($0.25) 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 -16.0%.

W&T Offshore Price Performance

W&T Offshore stock opened at $3.80 on Friday. The company has a market cap of $565.96 million, a PE ratio of -3.77 and a beta of 0.29. The company has a fifty day moving average price of $3.23 and a two-hundred day moving average price of $2.40. W&T Offshore has a 12 month low of $1.27 and a 12 month high of $4.49.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The firm had revenue of $150.02 million during the quarter, compared to analyst estimates of $138.41 million. Equities research analysts anticipate that W&T Offshore will post -0.22 earnings per share for the current year.

Institutional Investors Weigh In On W&T Offshore

A number of hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in W&T Offshore by 47.0% in the first quarter. Dimensional Fund Advisors LP now owns 319,286 shares of the oil and gas company’s stock valued at $1,090,000 after buying an additional 102,022 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of W&T Offshore by 10.4% during the first quarter. Bank of New York Mellon Corp now owns 1,137,443 shares of the oil and gas company’s stock valued at $3,879,000 after purchasing an additional 106,779 shares in the last quarter. Capricorn Fund Managers Ltd bought a new stake in shares of W&T Offshore during the first quarter valued at about $34,000. Caitong International Asset Management Co. Ltd raised its stake in shares of W&T Offshore by 2,753.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 110,794 shares of the oil and gas company’s stock valued at $181,000 after purchasing an additional 106,911 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of W&T Offshore during the fourth quarter valued at about $138,000. 42.88% of the stock is currently owned by institutional investors.

About W&T Offshore

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.