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

W&T Offshore (NYSE:WTI) issued its quarterly earnings data on Tuesday. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02), Briefing.com reports. The business had revenue of $142.70 million for the quarter, compared to analyst estimates of $148.05 million. W&T Offshore had a negative return on equity of 100.74% and a negative net margin of 4.04%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share.

W&T Offshore Price Performance

WTI traded up $0.14 during trading on Wednesday, reaching $2.25. The stock had a trading volume of 3,014,817 shares, compared to its average volume of 2,266,813. The firm has a market capitalization of $330.43 million, a price-to-earnings ratio of -14.93 and a beta of 1.40. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 18.51. W&T Offshore has a 1-year low of $1.99 and a 1-year high of $4.51. The stock has a 50 day moving average of $2.23 and a two-hundred day moving average of $2.50.

W&T Offshore Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 24th were given a $0.01 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $0.04 dividend on an annualized basis and a yield of 1.78%. W&T Offshore’s dividend payout ratio (DPR) is -26.67%.

Analyst Ratings Changes

Separately, Stifel Nicolaus upped their target price on W&T Offshore from $7.50 to $7.80 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd.

About W&T Offshore

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.