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

W&T Offshore, Inc. (NYSE:WTI) declared a quarterly dividend on Thursday, November 7th,NASDAQ Dividends reports. Investors of record on Thursday, November 21st will be paid a dividend of 0.01 per share by the oil and gas company on Friday, November 29th. This represents a $0.04 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, November 21st.

W&T Offshore has a payout ratio of -10.3% 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 ($0.36) 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 -11.1%.

W&T Offshore Price Performance

WTI stock traded down $0.32 during trading on Friday, hitting $2.14. 2,737,099 shares of the stock traded hands, compared to its average volume of 2,101,224. W&T Offshore has a one year low of $1.92 and a one year high of $3.92. The stock has a market cap of $314.27 million, a price-to-earnings ratio of -13.47 and a beta of 1.40. The company has a 50 day simple moving average of $2.17 and a 200 day simple moving average of $2.23. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 75.32.

W&T Offshore (NYSE:WTI) last announced its earnings results on Tuesday, August 6th. The oil and gas company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). W&T Offshore had a negative return on equity of 103.71% and a negative net margin of 4.51%. The company had revenue of $142.70 million during the quarter, compared to the consensus estimate of $148.05 million. During the same period in the prior year, the firm posted ($0.08) earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. Equities analysts expect that W&T Offshore will post -0.46 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of W&T Offshore from a “hold” rating to a “sell” rating in a research note on Thursday, September 19th.

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.