W&T Offshore (NYSE:WTI) Releases Earnings Results, Misses Expectations By $0.08 EPS

W&T Offshore (NYSE:WTI) released its quarterly earnings data on Monday. The oil and gas company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08), Zacks reports. The company had revenue of $121.71 million for the quarter, compared to the consensus estimate of $115.36 million.

W&T Offshore Stock Performance

Shares of W&T Offshore stock traded down $0.48 during midday trading on Tuesday, reaching $2.62. 6,376,328 shares of the company’s stock traded hands, compared to its average volume of 3,984,793. The stock has a 50 day moving average of $2.20 and a 200-day moving average of $2.00. W&T Offshore has a 12 month low of $1.09 and a 12 month high of $4.04. The company has a market cap of $389.06 million, a PE ratio of -2.64 and a beta of 0.26.

W&T Offshore Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 19th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $0.04 annualized dividend and a dividend yield of 1.5%. W&T Offshore’s payout ratio is -4.04%.

Analyst Upgrades and Downgrades

Several brokerages have commented on WTI. Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a research note on Wednesday, January 21st. Zacks Research cut shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, W&T Offshore has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in shares of W&T Offshore by 115.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,666,494 shares of the oil and gas company’s stock valued at $2,716,000 after purchasing an additional 894,221 shares in the last quarter. Millennium Management LLC lifted its holdings in W&T Offshore by 33.9% in the third quarter. Millennium Management LLC now owns 2,560,561 shares of the oil and gas company’s stock worth $4,660,000 after buying an additional 647,596 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of W&T Offshore by 25.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,540,588 shares of the oil and gas company’s stock worth $4,141,000 after acquiring an additional 508,050 shares during the period. First Trust Advisors LP bought a new stake in shares of W&T Offshore during the third quarter valued at approximately $853,000. Finally, Jane Street Group LLC boosted its holdings in shares of W&T Offshore by 826.2% during the 1st quarter. Jane Street Group LLC now owns 324,807 shares of the oil and gas company’s stock valued at $503,000 after buying an additional 289,739 shares in the last quarter. 42.88% of the stock is owned by hedge funds and other institutional investors.

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.