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

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Wednesday, August 5th. Investors of record on Wednesday, August 19th will be paid a dividend of 0.01 per share by the oil and gas company on Wednesday, August 26th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 19th.

W&T Offshore has a 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 analysts expect W&T Offshore to earn ($0.22) 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 -18.2%.

W&T Offshore Stock Down 3.9%

W&T Offshore stock opened at $3.29 on Thursday. The business has a 50 day moving average price of $3.51 and a two-hundred day moving average price of $3.24. The stock has a market cap of $488.74 million, a price-to-earnings ratio of -3.46 and a beta of 0.24. W&T Offshore has a 12 month low of $1.50 and a 12 month high of $5.08.

W&T Offshore (NYSE:WTI) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $162.62 million during the quarter, compared to the consensus estimate of $157.46 million. On average, analysts expect that W&T Offshore will post -0.11 earnings per share for the current fiscal year.

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.