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

W&T Offshore, Inc. (NYSE:WTI) announced a quarterly dividend on Thursday, March 5th. Shareholders of record on Thursday, March 19th will be paid a dividend of 0.01 per share by the oil and gas company on Thursday, March 26th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Thursday, March 19th.

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 analysts expect W&T Offshore to earn ($0.43) 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 -9.3%.

W&T Offshore Trading Down 3.8%

Shares of WTI opened at $2.82 on Friday. The company’s 50 day simple moving average is $2.14 and its 200-day simple moving average is $1.97. The firm has a market cap of $419.56 million, a PE ratio of -2.85 and a beta of 0.26. W&T Offshore has a 12-month low of $1.09 and a 12-month high of $3.48.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, W&T Offshore currently has an average rating of “Hold”.

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.