Zacks Research Lowers Earnings Estimates for W&T Offshore

W&T Offshore, Inc. (NYSE:WTI – Free Report) has recently seen a revision in the earnings estimates for the fiscal year 2024. Analysts from Zacks Research reported on December 9th that they have downgraded their forecast for the company, projecting earnings per share to reach ($0.46). This is a slight decrease from their earlier estimate of ($0.44).

The broader consensus for W&T Offshore’s total earnings this fiscal year is anticipated to be around ($0.49) per share. In addition to the full-year earnings, Zacks Research has also released quarterly estimates for W&T Offshore. They anticipate a loss of ($0.19) per share for the fourth quarter of 2024, followed by losses of ($0.10) in the first quarter of 2025, ($0.11) in the second and third quarters of 2025, and a projected loss of ($0.09) for the fourth quarter of 2025. For the full year 2025, analysts expect earnings at ($0.41), with minimal improvements expected into 2026, forecasting ($0.01) in the first quarter, ($0.02) in the second, and breaking even in the third quarter.

In separate news, StockNews.com upgraded W&T Offshore’s rating from “sell” to “hold” in a research report published on Friday.

Current Stock Performance

As of Thursday, W&T Offshore's shares opened at $1.70, a decrease of 3.4%. The company holds a market capitalization of $250.51 million and has a current ratio of 0.98, along with a quick ratio also at 0.98. The debt-to-equity ratio is notably high at 75.32. Over the last 12 months, the stock has experienced a low of $1.69 and a high of $3.44. Its 50-day simple moving average stands at $2.05, while the 200-day average is at $2.16.

Institutional Investors' Engagement

Hedge funds and institutional investors have been actively adjusting their holdings in W&T Offshore. For instance, Squarepoint Ops LLC increased its stake by 197.3% in the second quarter, now holding 413,139 shares valued at $884,000 after acquiring an additional 274,156 shares during the last quarter. Similarly, Huber Capital Management LLC also raised its investment by 18.1%, obtaining a total of 4,763,734 shares valued at approximately $10.19 million after buying 731,254 more shares last quarter. Other firms like Creative Planning and The Manufacturers Life Insurance Company also made notable increases to their stakes. In total, institutional investors now hold about 42.88% of the company’s shares.

Dividend Declaration

The company recently announced a quarterly dividend of $0.01 per share, which was paid out on November 29th. This dividend was received by investors on record as of November 21st, with an annualized dividend yield of 2.35%. However, W&T Offshore’s dividend payout ratio stands at a negative -9.30%, indicating that earnings do not support the dividend allocation.

About W&T Offshore

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

W&T, Offshore, Earnings