W&T Offshore, Inc. (WTI) to Issue Quarterly Dividend of $0.01 on May 27th

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Tuesday, May 6th, RTT News reports. Stockholders of record on Tuesday, May 20th will be given a dividend of 0.01 per share by the oil and gas company on Tuesday, May 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Tuesday, May 20th.

W&T Offshore has a dividend payout ratio of -8.5% indicating that 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 ($0.43) 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 Price Performance

WTI opened at $1.47 on Friday. The stock has a 50-day moving average price of $1.35 and a 200-day moving average price of $1.62. W&T Offshore has a 12-month low of $1.09 and a 12-month high of $2.84. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 75.32. The stock has a market capitalization of $216.31 million, a P/E ratio of -3.41 and a beta of 0.53.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings data on Tuesday, May 6th. The oil and gas company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. W&T Offshore had a negative return on equity of 775.16% and a negative net margin of 11.95%. The firm had revenue of $129.87 million during the quarter, compared to analysts’ expectations of $123.91 million. Equities analysts predict that W&T Offshore will post -0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded W&T Offshore from a “sell” rating to a “hold” rating in a report on Thursday, May 8th.

Institutional Investors Weigh In On W&T Offshore

An institutional investor recently raised its position in W&T Offshore stock. AQR Capital Management LLC boosted its stake in shares of W&T Offshore, Inc. (NYSE:WTI) by 309.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,911 shares of the oil and gas company’s stock after acquiring an additional 91,400 shares during the quarter. AQR Capital Management LLC owned 0.08% of W&T Offshore worth $187,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 42.88% of the company’s stock.

W&T Offshore Company Profile

W&T Offshore, Inc engages in the production, exploration, development, and acquisition of oil and natural gas properties. It focuses its operations in the Gulf of Mexico. The company was founded by Tracy W. Krohn in 1983 and is headquartered in Houston, TX.