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

W&T Offshore, Inc. (NYSE:WTI) announced a quarterly dividend on Monday, March 3rd, Wall Street Journal reports. Shareholders of record on Monday, March 17th will be given a dividend of 0.01 per share by the oil and gas company on Monday, March 24th. This represents a $0.04 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Monday, March 17th.

W&T Offshore has a dividend payout ratio of -400.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect W&T Offshore to earn ($0.43) 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 -9.3%.

W&T Offshore Stock Down 3.6 %

Shares of NYSE WTI traded down $0.06 during mid-day trading on Tuesday, reaching $1.48. 5,382,673 shares of the company’s stock traded hands, compared to its average volume of 1,569,385. The stock has a market cap of $217.35 million, a P/E ratio of -3.43 and a beta of 1.32. The business has a 50-day simple moving average of $1.69 and a 200 day simple moving average of $1.94. W&T Offshore has a 1-year low of $1.30 and a 1-year high of $2.93. The company has a debt-to-equity ratio of 75.32, a current ratio of 0.98 and a quick ratio of 0.98.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of W&T Offshore from a “sell” rating to a “hold” rating in a research report on Friday, December 13th.

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.