W&T Offshore, Inc. (WTI) To Go Ex-Dividend on November 12th

W&T Offshore, Inc. (NYSE:WTI) announced a quarterly dividend on Thursday, October 29th. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.01 per share by the oil and gas company on Thursday, November 19th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 12th.

W&T Offshore has a dividend payout ratio of -8.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect W&T Offshore to earn ($0.08) 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 -50.0%.

W&T Offshore Price Performance

Shares of WTI opened at $4.05 on Friday. The company has a market cap of $611.32 million, a P/E ratio of -11.91 and a beta of 0.35. The stock has a fifty day moving average price of $3.82 and a 200 day moving average price of $3.40. 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 issued its earnings results on Thursday, October 29th. The oil and gas company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.07. The company had revenue of $167.08 million during the quarter, compared to analyst estimates of $144.97 million. As a group, research analysts anticipate that W&T Offshore will post -0.09 earnings per share for the current year.

More W&T Offshore News

Here are the key news stories impacting W&T Offshore this week:

• Positive Sentiment: W&T reported third-quarter revenue of $167.1 million, above the $145.0 million consensus estimate and up 31% year over year. Adjusted EPS was $0.01 versus analysts’ expected loss of $0.06. W&T Offshore earnings report
• Positive Sentiment: Production reached 38.2 thousand barrels of oil equivalent per day, exceeding the company’s guidance, while third-quarter Adjusted EBITDA increased 30% year over year to $51.1 million. Free cash flow was $33.2 million, compared with negative free cash flow in the prior-year quarter. W&T Offshore third-quarter results
• Positive Sentiment: Liquidity improved to $234.7 million, cash rose to $191.3 million and net debt declined 20% sequentially, reducing net debt to 0.9 times trailing twelve-month Adjusted EBITDA. The conversion of its credit facility to a reserve-based structure also provides potential borrowing capacity of up to $100 million. W&T Offshore liquidity and credit facility update
• Positive Sentiment: The company declared another $0.01 quarterly dividend, maintaining its 12-quarter record of shareholder distributions. W&T Offshore dividend announcement
• Neutral Sentiment: Higher crude prices, supported by falling inventories and reports of possible U.S. military options involving Iran, could benefit W&T’s realized oil revenue. However, geopolitical developments also increase commodity-price volatility and are not company-specific. Oil forecast and geopolitical risks
• Negative Sentiment: Despite the adjusted profit, W&T posted a GAAP net loss of $13.6 million, or $0.09 per share, partly reflecting derivative losses and higher expenses. The company also issued 3.6 million shares through its ATM program, creating dilution for existing shareholders. W&T Offshore earnings call transcript
• Negative Sentiment: Insiders recorded eight sales and no purchases over the past six months, while surety litigation remains unresolved and fourth-quarter production faces temporary hurricane and facility-turnaround disruptions.

About W&T Offshore

W&T Offshore, Inc is an independent oil and natural gas exploration and production company focused on the U.S. Gulf of Mexico. The company explores for, develops, and produces crude oil, natural gas, and natural gas liquids from offshore properties.

W&T Offshore’s operations have included assets in the federal and state waters of the Gulf of Mexico, spanning shelf and deepwater areas. Its activities include acquiring exploration and production interests, drilling and completing wells, and managing offshore production and related infrastructure.

Founded in 1983 by Tracy W.