W&T Offshore (NYSE:WTI) Releases Earnings Results, Misses Estimates By $0.02 EPS

W&T Offshore (NYSE:WTI) posted its quarterly earnings data on Wednesday. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02), FiscalAI reports. The firm had revenue of $162.62 million for the quarter, compared to the consensus estimate of $157.46 million.

W&T Offshore Stock Up 4.0%

Shares of W&T Offshore stock traded up $0.14 during trading on Friday, hitting $3.48. 1,976,571 shares of the stock traded hands, compared to its average volume of 5,971,988. The stock has a market cap of $517.00 million, a price-to-earnings ratio of -4.77 and a beta of 0.24. W&T Offshore has a 52 week low of $1.50 and a 52 week high of $5.08. The firm’s fifty day moving average is $3.50 and its 200-day moving average is $3.25.

W&T Offshore Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 19th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 19th. W&T Offshore’s dividend payout ratio is presently -5.48%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. StoneX Group Inc. bought a new stake in W&T Offshore in the fourth quarter worth $28,000. Oxford Asset Management LLP purchased a new stake in shares of W&T Offshore during the second quarter valued at approximately $29,000. Engineers Gate Manager LP purchased a new stake in shares of W&T Offshore during the fourth quarter valued at approximately $32,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of W&T Offshore in the third quarter worth $32,000. Finally, Raymond James Financial Inc. raised its holdings in W&T Offshore by 42.7% during the 2nd quarter. Raymond James Financial Inc. now owns 21,957 shares of the oil and gas company’s stock valued at $36,000 after buying an additional 6,569 shares during the last quarter. 42.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.