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

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Stockholders of record on Monday, March 17th will be given a dividend of 0.01 per share by the oil and gas company on Monday, March 24th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Monday, March 17th.

W&T Offshore has a dividend payout ratio of -400.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Performance

Shares of NYSE WTI traded down $0.06 during mid-day trading on Tuesday, hitting $1.48. 5,381,270 shares of the company were exchanged, compared to its average volume of 1,569,385. The stock has a 50 day simple moving average of $1.69 and a 200-day simple moving average of $1.94. W&T Offshore has a 1-year low of $1.30 and a 1-year high of $2.93. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 75.32. The firm has a market cap of $217.35 million, a price-to-earnings ratio of -3.43 and a beta of 1.32.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of W&T Offshore from a “sell” rating to a “hold” rating in a research note on Friday, December 13th.

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.