W&T Offshore, Inc. (NYSE:WTI) to Issue Quarterly Dividend of $0.01
W&T Offshore, Inc. (NYSE:WTI) has declared a quarterly dividend of $0.01 per share, payable on August 25th to shareholders of record on August 18th. This results in an annualized yield of 2.3%. The company has a negative payout ratio of -8.5%, indicating reliance on its balance sheet for dividend payments. Analysts project a future earnings per share of -$0.43, suggesting potential challenges in covering the annual dividend. WTI stock remained flat at $1.73 during trading, with a market cap of $255.44 million.
W&T Offshore, Inc. (NYSE:WTI - Get Free Report) declared a quarterly dividend on Tuesday, August 5th, Wall Street Journal reports. Shareholders of record on Monday, August 18th will be paid a dividend of 0.01 per share by the oil and gas company on Monday, August 25th. This represents a c) annualized dividend and a yield of 2.3%. The ex-dividend date is Monday, August 18th.
W&T Offshore has a 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. 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 Performance
Shares of WTI stock remained flat at $1.73 during trading hours on Tuesday. 1,387,070 shares of the stock were exchanged, compared to its average volume of 1,814,356. The business has a 50 day moving average of $1.78 and a two-hundred day moving average of $1.58. W&T Offshore has a 52-week low of $1.09 and a 52-week high of $2.84. The firm has a market capitalization of $255.44 million, a price-to-earnings ratio of -2.40 and a beta of 0.70.
W&T Offshore (NYSE:WTI - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The oil and gas company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.06. The firm had revenue of $122.37 million during the quarter, compared to the consensus estimate of $131.30 million. As a group, research analysts anticipate that W&T Offshore will post -0.45 earnings per share for the current fiscal year.
About W&T Offshore
(Get Free Report)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.
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