Zacks Research Lowers Earnings Estimates for W&T Offshore

W&T Offshore, Inc. (NYSE:WTI) has recently faced a downward revision in earnings expectations from Zacks Research. On December 9th, the investment analysts at Zacks released a report indicating that their projected earnings per share (EPS) for FY2024 has decreased from ($0.44) to ($0.46). This revised estimate signifies that W&T Offshore is expected to generate losses for the fiscal year. The overall consensus among analysts mirrors this outlook, with current full-year projections averaging a loss of ($0.49) per share.

In addition to the full-year forecasts, Zacks Research has outlined quarterly expectations for W&T Offshore. For Q4 2024, analysts predict an EPS of ($0.19). Projections for subsequent quarters in 2025 include a loss of ($0.10) for Q1, ($0.11) for Q2, and ($0.11) again for Q3. An anticipated loss of ($0.09) is expected for Q4 2025, culminating in an FY2025 forecasted EPS of ($0.41). Looking even further ahead, estimates for Q1 2026 suggest a near break-even outcome with an EPS of ($0.01), followed by slight losses of ($0.02) for Q2 and a balanced $0.00 for Q3.

In a separate analysis, StockNews.com has upgraded W&T Offshore's rating from a 'sell' to a 'hold,' indicating a shift in sentiment towards the company.

W&T Offshore Stock Performance

As of Thursday, shares of W&T Offshore opened at $1.70, reflecting a decrease of 3.4%. Current financial ratios show a current ratio and quick ratio both at 0.98, while the debt-to-equity ratio stands at a notably high 75.32. The company's market capitalization is approximately $250.51 million, with a price-to-earnings (P/E) ratio of -3.95 and a beta of 1.35. Over the past year, the stock has fluctuated between a low of $1.69 and a high of $3.44, with a 50-day simple moving average at $2.05 and a 200-day average at $2.16.

Institutional Activity Surrounding W&T Offshore

Recent activity among hedge funds and institutional investors reveals an interest in W&T Offshore. For instance, Squarepoint Ops LLC enhanced its position by 197.3% during the second quarter, bringing its total shareholding to 413,139, valued at $884,000 after purchasing an additional 274,156 shares. Similarly, Huber Capital Management LLC increased its stake by 18.1%, now holding 4,763,734 shares worth $10,194,000 after acquiring an extra 731,254 shares. Creative Planning also boosted its holdings by 14.4%, increasing its share count to 286,747, valued at $617,000. Furthermore, The Manufacturers Life Insurance Company raised its position by 17.8%, and Caprock Group LLC added a new position during the same period. Overall, institutional ownership accounts for 42.88% of W&T Offshore's shares.

W&T Offshore Dividend Information

The company declared its latest quarterly dividend, which was paid on November 29th, 2024. Shareholders who were on record as of November 21st received a dividend of $0.01 per share. This translates to an annualized dividend of $0.04 and a yield of 2.35%. However, it's worth noting that W&T Offshore's dividend payout ratio is currently marked at -9.30%, indicating a negative payout with respect to earnings.

About W&T Offshore, Inc.

Founded in 1983 and headquartered in Houston, Texas, W&T Offshore, Inc. operates as an independent oil and natural gas producer. The company specializes in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. W&T Offshore engages in the sale of several products including crude oil, condensate, natural gas liquids, and natural gas.

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