Q3 EPS Estimates for W&T Offshore Reduced by Zacks Research

W&T Offshore, Inc. (NYSE:WTI) – Equities researchers at Zacks Research dropped their Q3 2024 earnings per share estimates for W&T Offshore in a report released on Wednesday, October 16th. Zacks Research analyst N. Banerjee now forecasts that the oil and gas company will post earnings per share of ($0.19) for the quarter, down from their prior estimate of ($0.16). The consensus estimate for W&T Offshore’s current full-year earnings is ($0.39) per share. Zacks Research also issued estimates for W&T Offshore’s Q4 2024 earnings at ($0.17) EPS, FY2024 earnings at ($0.46) EPS, Q2 2025 earnings at ($0.08) EPS, Q3 2025 earnings at ($0.08) EPS, Q4 2025 earnings at ($0.12) EPS and Q1 2026 earnings at ($0.03) EPS.

Separately, StockNews.com cut shares of W&T Offshore from a “hold” rating to a “sell” rating in a report on Thursday, September 19th.

W&T Offshore Trading Up 2.5 %

NYSE:WTI opened at $2.09 on Friday. The stock has a 50-day simple moving average of $2.20 and a 200-day simple moving average of $2.28. The stock has a market cap of $306.94 million, a P/E ratio of -12.29 and a beta of 1.39. W&T Offshore has a 1 year low of $1.92 and a 1 year high of $4.32. The company has a debt-to-equity ratio of 75.32, a quick ratio of 1.06 and a current ratio of 1.06.

W&T Offshore (NYSE:WTI) last issued its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. The firm had revenue of $142.70 million for the quarter, compared to analyst estimates of $148.05 million. During the same quarter in the previous year, the firm posted ($0.08) EPS. The business’s revenue for the quarter was up 13.1% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Huber Capital Management LLC grew its position in shares of W&T Offshore by 23.0% during the first quarter. Huber Capital Management LLC now owns 4,032,480 shares of the oil and gas company’s stock worth $10,686,000 after acquiring an additional 753,237 shares during the last quarter. GSA Capital Partners LLP purchased a new position in W&T Offshore during the 1st quarter worth $1,652,000. Russell Investments Group Ltd. increased its stake in W&T Offshore by 33.6% in the first quarter. Russell Investments Group Ltd. now owns 1,135,748 shares of the oil and gas company’s stock valued at $3,010,000 after purchasing an additional 285,493 shares during the period. Squarepoint Ops LLC raised its holdings in shares of W&T Offshore by 197.3% in the second quarter. Squarepoint Ops LLC now owns 413,139 shares of the oil and gas company’s stock valued at $884,000 after buying an additional 274,156 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of W&T Offshore by 174.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 397,451 shares of the oil and gas company’s stock valued at $1,053,000 after buying an additional 252,394 shares during the last quarter. Institutional investors and hedge funds own 42.88% of the company’s stock.

W&T Offshore Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were paid a dividend of $0.01 per share. The ex-dividend date was Tuesday, August 20th. This represents a $0.04 dividend on an annualized basis and a yield of 1.91%. W&T Offshore’s dividend payout ratio is presently -23.53%.

W&T Offshore Company Profile

W&T Offshore, Inc, an independent oil and natural gas producer, engages in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. The company sells crude oil and condensate, natural gas liquids, and natural gas. W&T Offshore, Inc was founded in 1983 and is headquartered in Houston, Texas.