W&T Offshore (NYSE:WTI) Issues Quarterly Earnings Results

W&T Offshore (NYSE:WTI) issued its quarterly earnings results on Wednesday. The oil and gas company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.07, Zacks reports. The business had revenue of $127.52 million for the quarter, compared to the consensus estimate of $125.69 million.

W&T Offshore Stock Performance

Shares of W&T Offshore stock traded down $0.04 on Thursday, reaching $1.92. 494,277 shares of the stock were exchanged, compared to its average volume of 1,766,698. The firm’s 50 day moving average is $1.97 and its 200-day moving average is $1.76. W&T Offshore has a one year low of $1.09 and a one year high of $2.59. The firm has a market cap of $284.07 million, a PE ratio of -2.52 and a beta of 0.59.

W&T Offshore Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 19th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, November 19th. W&T Offshore’s dividend payout ratio is -5.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Pareto Securities assumed coverage on shares of W&T Offshore in a report on Thursday, September 4th. They issued a “buy” rating on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of W&T Offshore in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of W&T Offshore from a “sell” rating to a “hold” rating in a research note on Sunday, September 14th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, W&T Offshore presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On W&T Offshore

Several institutional investors and hedge funds have recently added to or reduced their stakes in WTI. Oxford Asset Management LLP bought a new position in shares of W&T Offshore during the second quarter valued at $29,000. BNP Paribas Financial Markets raised its stake in shares of W&T Offshore by 2,092.7% during the second quarter. BNP Paribas Financial Markets now owns 129,104 shares of the oil and gas company’s stock valued at $213,000 after acquiring an additional 123,216 shares during the last quarter. Brevan Howard Capital Management LP increased its position in shares of W&T Offshore by 19.2% during the second quarter. Brevan Howard Capital Management LP now owns 156,247 shares of the oil and gas company’s stock worth $258,000 after buying an additional 25,186 shares during the period. Bank of America Corp DE increased its position in shares of W&T Offshore by 46.6% during the second quarter. Bank of America Corp DE now owns 468,643 shares of the oil and gas company’s stock worth $773,000 after buying an additional 149,000 shares during the period. Finally, Raymond James Financial Inc. increased its position in shares of W&T Offshore by 42.7% during the second quarter. Raymond James Financial Inc. now owns 21,957 shares of the oil and gas company’s stock worth $36,000 after buying an additional 6,569 shares during the period. Institutional investors own 42.88% of the company’s stock.

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.