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

W&T Offshore, Inc. (NYSE:WTI) announced a quarterly dividend on Thursday, October 29th. Investors of record on Thursday, November 12th will be given a dividend of $0.01 per share by the oil and gas company on Thursday, November 19th. This represents a $0.04 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 12th.

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. Analysts expect W&T Offshore to earn ($0.08) 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 -50.0%.

W&T Offshore Stock Down 4.1%

WTI stock opened at $4.04 on Friday. The firm’s 50-day simple moving average is $3.82 and its 200 day simple moving average is $3.38. The stock has a market cap of $610.55 million, a PE ratio of -5.54 and a beta of 0.35. W&T Offshore has a fifty-two week low of $1.50 and a fifty-two week high of $5.08.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The firm had revenue of $167.08 million during the quarter, compared to the consensus estimate of $144.97 million. Equities analysts forecast that W&T Offshore will post -0.09 EPS for the current fiscal year.

Institutional Trading of W&T Offshore

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. bought a new position in W&T Offshore during the second quarter worth about $26,065,000. Algert Global LLC raised its position in shares of W&T Offshore by 185.8% in the second quarter. Algert Global LLC now owns 1,589,137 shares of the oil and gas company’s stock valued at $5,006,000 after buying an additional 1,033,167 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of W&T Offshore in the second quarter valued at approximately $3,592,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in W&T Offshore during the second quarter worth approximately $3,353,000. Finally, Bank of America Corp DE increased its stake in W&T Offshore by 4.2% during the 1st quarter. Bank of America Corp DE now owns 649,490 shares of the oil and gas company’s stock worth $2,215,000 after acquiring an additional 26,262 shares during the period. Institutional investors own 42.88% of the company’s stock.

W&T Offshore Company Profile

W&T Offshore, Inc is an independent oil and natural gas exploration and production company focused on the U.S. Gulf of Mexico. The company explores for, develops, and produces crude oil, natural gas, and natural gas liquids from offshore properties.

W&T Offshore’s operations have included assets in the federal and state waters of the Gulf of Mexico, spanning shelf and deepwater areas. Its activities include acquiring exploration and production interests, drilling and completing wells, and managing offshore production and related infrastructure.

Founded in 1983 by Tracy W.