Zacks Research Adjusts Earnings Estimates for W&T Offshore

W&T Offshore, Inc. (NYSE:WTI) has recently seen changes in its earnings projections by analysts at Zacks Research. On December 9th, Zacks issued a report indicating a reduction in the earnings per share (EPS) estimates for the company for the fiscal year 2024. Zacks Research analyst N. Banerjee has now estimated that W&T Offshore is expected to have a loss of ($0.46) per share, slightly lower than the previous estimate of ($0.44) per share. Currently, the consensus among analysts for W&T Offshore’s earnings stands at a loss of ($0.49) per share for the entire year.

In addition to the FY2024 adjustments, Zacks Research has also provided specific quarterly earnings estimates for W&T Offshore. For the fourth quarter of 2024, they anticipate a loss of ($0.19) per share. Looking forward to the first quarter of 2025, the expectation is for a loss of ($0.10) per share, with subsequent estimates showing a loss of ($0.11) for both the second and third quarters of 2025. The forecast for the fourth quarter of 2025 is a slightly smaller loss of ($0.09) per share. Overall, the total estimated loss for FY2025 is ($0.41) per share. For 2026, early estimates show a projected loss of ($0.01) for the first quarter, a loss of ($0.02) for the second quarter, and breaking even with $0.00 in the third quarter.

Separately, analysts at StockNews.com have upgraded their rating on W&T Offshore from a "sell" to a "hold" in a report published last Friday.

Current Stock Performance

As of Thursday, W&T Offshore shares were trading at $1.70, down 3.4% from previous levels. The stock has a current ratio of 0.98 and a quick ratio of 0.98, indicating liquidity ratios that suggest the company might struggle to meet short-term liabilities. The debt-to-equity ratio stands at a notably high 75.32, reflecting substantial leverage. With a market capitalization of $250.51 million, the stock’s price-to-earnings (PE) ratio is at -3.95, indicating negative earnings.

Over the past year, W&T Offshore has experienced a price range with a low of $1.69 and a high of $3.44. The fifty-day moving average is $2.05, while the two-hundred-day moving average is slightly higher at $2.16.

Institutional Investment Activity

Several hedge funds and institutional investors have recently altered their positions in W&T Offshore. Squarepoint Ops LLC has significantly raised its stake by 197.3% during the second quarter, now owning 413,139 shares valued at approximately $884,000 after acquiring an additional 274,156 shares. Huber Capital Management LLC also increased its holdings by 18.1%, now holding 4,763,734 shares valued at about $10.19 million. Furthermore, Creative Planning raised its ownership by 14.4%, totaling 286,747 shares worth $617,000 after buying 36,145 additional shares last quarter. The Manufacturers Life Insurance Company increased its stake by 17.8%, owning 47,209 shares valued at $101,000 after buying an extra 7,142 shares. Additionally, Caprock Group LLC made a new investment in W&T Offshore valued around $34,000 during the second quarter. In total, institutional investors control approximately 42.88% of W&T Offshore’s shares.

Dividend Payment

W&T Offshore recently announced a quarterly dividend, which was distributed on November 29th. Shareholders who were on record as of November 21st received a $0.01 dividend, marking an annualized dividend of $0.04, which corresponds to a yield of 2.35%. The dividend payout ratio (DPR) for the company is currently at -9.30%, indicating the company is not currently generating enough earnings to cover the dividend payments.

Company Overview

W&T Offshore, Inc. is an independent producer of oil and natural gas, primarily involved in the acquisition, exploration, and development of oil and natural gas properties in the Gulf of Mexico. Founded in 1983 and headquartered in Houston, Texas, the company is engaged in the sale of crude oil, natural gas liquids, and natural gas.

Earnings, Estimates, Stocks