Buy Or Sell Opportunity • May 27
Now 24% undervalued Over the last 90 days, the stock has risen 45% to US$3.71. The fair value is estimated to be US$4.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 76% in the next 2 years. Recent Insider Transactions Derivative • May 20
Founder exercised options and sold US$672k worth of stock On the 16th of May, Tracy Krohn exercised options to acquire 141k shares at no cost and sold these for an average price of US$4.75 per share. This trade did not impact their existing holding. For the year to December 2019, Tracy's total compensation was 13% salary and 87% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2025, Tracy's direct individual holding has increased from 48.44m shares to 48.81m. Company insiders have collectively sold US$1.2m more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • May 14
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$580.1m to US$572.4m. Losses expected to increase from US$0.10 per share to US$0.13. Oil and Gas industry in the US expected to see average net income growth of 50% next year. Consensus price target of US$4.60 unchanged from last update. Share price rose 15% to US$4.40 over the past week. Reported Earnings • May 11
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: US$0.15 loss per share (improved from US$0.21 loss in 1Q 2025). Revenue: US$150.0m (up 16% from 1Q 2025). Net loss: US$22.5m (loss narrowed 26% from 1Q 2025). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) missed analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 3.5% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Apr 24
Consensus EPS estimates fall by 22% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$616.1m to US$580.1m. Losses expected to increase from US$0.083 per share to US$0.10. Oil and Gas industry in the US expected to see average net income growth of 34% next year. Consensus price target of US$4.35 unchanged from last update. Share price rose 33% to US$3.82 over the past week. New Risk • Apr 22
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Negative equity (-US$200m). Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (US$46m net loss in 3 years). Price Target Changed • Apr 19
Price target increased by 24% to US$4.35 Up from US$3.50, the current price target is an average from 2 analysts. New target price is 52% above last closing price of US$2.87. Stock is up 143% over the past year. The company is forecast to post a net loss per share of US$0.097 next year compared to a net loss per share of US$1.01 last year. Major Estimate Revision • Apr 14
Consensus revenue estimates increase by 25% The consensus outlook for revenues in fiscal year 2026 has improved. 2026 revenue forecast increased from US$491.9m to US$616.1m. Forecast losses expected to reduce from -US$0.921 to -US$0.083 per share. Oil and Gas industry in the US expected to see average net income growth of 33% next year. Consensus price target of US$3.70 unchanged from last update. Share price fell 17% to US$2.80 over the past week. Major Estimate Revision • Mar 23
Consensus EPS estimates fall by 62% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from US$506.3m to US$491.9m. Losses expected to increase from US$0.57 per share to US$0.92. Oil and Gas industry in the US expected to see average net income growth of 19% next year. Consensus price target up from US$2.40 to US$3.50. Share price was steady at US$3.10 over the past week. Annonce • Mar 17
W&T Offshore, Inc. Has Provides Production Guidance for the First Quarter and Full Year 2026 W&T Offshore, Inc. has provided production guidance for the first quarter and full year 2026. For the first quarter, the company expects oil production to be in the range of 1,210 MBbl to 1,340 MBbl, NGLs production to be in the range of 400 MBbl to 450 MBbl, natural gas production to be in the range of 8,405 MMcf to 9,305 MMcf, total equivalents production to be in the range of 3,011 MBoe to 3,341 MBoe, and average daily equivalents production to be in the range of 33.5 MBoe/d to 37.1 MBoe/d.
For the full year, the company expects oil production to be in the range of 4,710 MBbl to 5,210 MBbl, NGLs production to be in the range of 1,620 MBbl to 1,820 MBbl, natural gas production to be in the range of 35,380 MMcf to 39,180 MMcf, total equivalents production to be in the range of 12,227 MBoe to 13,560 MBoe, and average daily equivalents production to be in the range of 33.5 MBoe/d to 37.2 MBoe/d. Reported Earnings • Mar 10
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: US$1.01 loss per share (further deteriorated from US$0.59 loss in FY 2024). Revenue: US$501.5m (down 4.5% from FY 2024). Net loss: US$150.1m (loss widened 72% from FY 2024). Oil reserves Proven reserves: 38.7 MMbbls Gas reserves Proven reserves: 423.3 Bcf LNG reserves Proven reserves: 11.7 MMbbls Combined production Oil equivalent production: 12.402 MMboe (12.183 MMboe in FY 2024) Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 9.4%. Revenue is forecast to grow 2.1% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 103 percentage points per year, which is a significant difference in performance. Declared Dividend • Mar 09
Third quarter dividend of US$0.01 announced Dividend of US$0.01 is the same as last year. Ex-date: 19th March 2026 Payment date: 26th March 2026 Dividend yield will be 1.3%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 2 years but payments have been stable during that time. New Risk • Mar 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Negative equity (-US$172m). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (US$72m net loss in 3 years). Share price has been volatile over the past 3 months (11% average weekly change). Annonce • Mar 06
W&T Offshore, Inc. Declares Quarterly Cash Dividend for the First Quarter 2026, Payable on March 26, 2026 W&T Offshore, Inc. announced that its Board of Directors has approved and declared its quarterly cash dividend of $0.01 per share of common stock for the first quarter of 2026 which is payable on March 26, 2026 to stockholders of record on March 19, 2026. Buy Or Sell Opportunity • Jan 30
Now 20% undervalued Over the last 90 days, the stock has risen 3.3% to US$2.17. The fair value is estimated to be US$2.72, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 23% over the last 3 years. Meanwhile, the company became loss making. For the next 3 years, revenue is forecast to grow by 1.8% per annum. Earnings are also forecast to grow by 22% per annum over the same time period. Declared Dividend • Nov 09
Third quarter dividend of US$0.01 announced Dividend of US$0.01 is the same as last year. Ex-date: 19th November 2025 Payment date: 26th November 2025 Dividend yield will be 2.0%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has not increased over the past 2 years but payments have been stable during that time. New Risk • Nov 07
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 3 years. Trailing 12-month net loss: US$146m Forecast net loss in 3 years: US$77m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$172m). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Currently unprofitable and not forecast to become profitable over next 3 years (US$77m net loss in 3 years). Reported Earnings • Nov 06
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: US$0.48 loss per share (further deteriorated from US$0.25 loss in 3Q 2024). Revenue: US$127.5m (up 5.1% from 3Q 2024). Net loss: US$71.5m (loss widened 94% from 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates significantly. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Annonce • Oct 23
W&T Offshore, Inc. to Report Q3, 2025 Results on Nov 05, 2025 W&T Offshore, Inc. announced that they will report Q3, 2025 results After-Market on Nov 05, 2025 Recent Insider Transactions • Oct 05
Founder recently bought US$527k worth of stock On the 2nd of October, Tracy Krohn bought around 287k shares on-market at roughly US$1.84 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Tracy's only on-market trade for the last 12 months. Recent Insider Transactions Derivative • Aug 13
Founder exercised options and sold US$90k worth of stock On the 8th of August, Tracy Krohn exercised options to acquire 52k shares at no cost and sold these for an average price of US$1.73 per share. This trade did not impact their existing holding. For the year to December 2018, Tracy's total compensation was 19% salary and 81% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Tracy's direct individual holding has increased from 48.37m shares to 48.44m. Company insiders have collectively sold US$347k more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Aug 05
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: US$0.14 loss per share (further deteriorated from US$0.10 loss in 2Q 2024). Revenue: US$122.4m (down 14% from 2Q 2024). Net loss: US$20.9m (loss widened 36% from 2Q 2024). Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 3.6% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Annonce • Jul 25
W&T Offshore, Inc. to Report Q2, 2025 Results on Aug 05, 2025 W&T Offshore, Inc. announced that they will report Q2, 2025 results After-Market on Aug 05, 2025 Annonce • Jun 18
W&T Announces Settlement Agreement with Two of Its Largest Surety Providers W&T Offshore, Inc. announced it has come to a settlement agreement with two of its largest surety providers which calls for the dismissal of a previously filed lawsuit. The settlement agreement requires the surety providers to withdraw their current collateral demands, and further provides that the surety providers may not make additional collateral demands or increase premiums through December 31, 2026. Key highlights for the settlement agreement include: Dismissal of all claims by the applicable party in the lawsuit, without prejudice; Two participating surety providers, together with W&T’s other major surety provider who did not attempt to increase premiums or call for collateral, represent nearly 70% of W&T’s surety bond portfolio; Premium rates for all existing bonds provided by the two surety providers will be locked in at W&T’s historical rates without increase through December 31, 2026, representing a prolonged rate lock in excess of “ordinary course” rate negotiations, thereby providing consistency and predictability in W&T’s premium expense; W&T is not required to provide any collateral to the applicable sureties, and the applicable surety providers will immediately withdraw all demands for collateral; Surety providers may not make demands for collateral through December 31, 2026, outside certain limited circumstances involving unlikely events of default; and Parties retain the right to negotiate and establish new surety bonds at rates to be determined in the ordinary course. Recent Insider Transactions Derivative • Jun 10
Founder exercised options and sold US$67k worth of stock On the 5th of June, Tracy Krohn exercised options to acquire 42k shares at no cost and sold these for an average price of US$1.60 per share. This trade did not impact their existing holding. For the year to December 2018, Tracy's total compensation was 19% salary and 81% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2025, Tracy has owned 48.37m shares directly. Company insiders have collectively sold US$198k more than they bought, via options and on-market transactions in the last 12 months. Annonce • Jun 10
W&T Offshore Appoints John D. Buchanan as Presiding Director W&T Offshore, Inc. announced that its Board of Directors appointed Mr. John D. Buchanan as Presiding Director for 2025. He has served in that role since the 2024 Annual General Meeting and will continue as Presiding Director this year. Mr. Buchanan joined the Board in April 2024 and has more than 30 years of experience as a seasoned oil and gas, commercial and banking attorney, in addition to his prior service as a military officer. Mr. Buchanan has served in top legal roles as Chief Legal Officer/General Counsel/Corporate Secretary at several S&P 500 companies. Mr. Buchanan most recently served at ExxonMobil Corporation as an Assistant General Counsel where he also served as the Secretary to the Exxon Audit Committee and the Exxon Finance Committee. Mr. Buchanan also previously served in the top legal role with the Federal Reserve Bank of Dallas, where he was the Senior Vice President, General Counsel and Corporate Secretary. Mr. Buchanan has held a number of other Chief Legal Officer positions over the course of his career at various S&P 500 financial institutions. Mr. Buchanan has served on numerous committees and boards of directors during his career, including the board of directors for Mercedes Benz US International Inc., with service as the Chair of the Audit Committee. Prior to his legal career, Mr. Buchanan was a U.S. Army officer, helicopter pilot, and paratrooper, serving with distinction. Mr. Buchanan holds a Master’s of Laws in Taxation from New York University School of Law and a Juris Doctorate degree from the Vanderbilt University School of Law. He also earned a Bachelor’s degree in Economics from Washington & Lee University. Annonce • Jun 05
W&T Offshore, Inc., Annual General Meeting, Jun 03, 2025 W&T Offshore, Inc., Annual General Meeting, Jun 03, 2025. Declared Dividend • May 09
First quarter dividend of US$0.01 announced Dividend of US$0.01 is the same as last year. Ex-date: 20th May 2025 Payment date: 27th May 2025 Dividend yield will be 2.9%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (85% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Reported Earnings • May 07
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: US$0.21 loss per share (further deteriorated from US$0.078 loss in 1Q 2024). Revenue: US$129.9m (down 7.8% from 1Q 2024). Net loss: US$30.6m (loss widened 167% from 1Q 2024). Revenue exceeded analyst estimates by 4.8%. Earnings per share (EPS) missed analyst estimates by 40%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. Annonce • Apr 25
W&T Offshore, Inc. to Report Q1, 2025 Results on May 06, 2025 W&T Offshore, Inc. announced that they will report Q1, 2025 results After-Market on May 06, 2025 Annonce • Apr 08
W&T Offshore, Inc. Provides Production Guidance for the Full Fiscal Year 2025 W&T Offshore, Inc. provided production guidance for the full fiscal year 2025. The guidance for fiscal year, full year 2025 production is roughly 34,900 to 38,600 BOEs a day. Annonce • Mar 26
W&T Offshore, Inc. Announces Promotion of Huan Gamblin to Executive Vice President and Chief Technical Officer W&T Offshore, Inc. announced the promotion of Huan Gamblin to Executive Vice President and Chief Technical Officer. Mr. Gamblin has over 20 years of energy industry experience. Huan Gamblin joined the Company in 2020 and was named Executive Vice President and Chief Technical Officer in March 2025. Since joining W&T in 2020, he has served as Manager of Acquisition and Divesture and, in May 2022, as Vice President of Business Development. Mr. Gamblin has 20 years of domestic and international industry experience. Prior to joining W&T, Mr. Gamblin was the Algeria Reservoir Engineering Manager with Occidental Petroleum (“Occidental”). Before Occidental, Mr. Gamblin held various engineering positions at Anadarko Petroleum'sU.S. onshore, Gulf of America, and international assets. Mr. Gamblin is a graduate of the University of Texas, where he earned a bachelor's degree in Petroleum Engineering. Declared Dividend • Mar 06
Fourth quarter dividend of US$0.01 announced Dividend of US$0.01 is the same as last year. Ex-date: 17th March 2025 Payment date: 24th March 2025 Dividend yield will be 2.8%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Reported Earnings • Mar 04
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: US$0.59 loss per share (down from US$0.11 profit in FY 2023). Revenue: US$525.3m (down 1.4% from FY 2023). Net loss: US$87.1m (down US$102.7m from profit in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.5%. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has only fallen by 37% per year, which means it has not declined as severely as earnings. Annonce • Feb 20
W&T Offshore, Inc. to Report Q4, 2024 Results on Mar 03, 2025 W&T Offshore, Inc. announced that they will report Q4, 2024 results at 4:00 PM, US Eastern Standard Time on Mar 03, 2025 Major Estimate Revision • Feb 14
Consensus EPS estimates upgraded to US$0.57 loss The consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -US$0.68 to -US$0.57 per share. Revenue forecast steady at US$531.3m. Oil and Gas industry in the US expected to see average net income growth of 2.7% next year. Consensus price target of US$10.00 unchanged from last update. Share price rose 13% to US$1.75 over the past week. New Risk • Jan 29
New major risk - Revenue and earnings growth Earnings have declined by 14% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Negative equity (-US$32m). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 14% per year over the past 5 years. Minor Risk Currently unprofitable and not forecast to become profitable next year (US$67m net loss next year). Recent Insider Transactions Derivative • Jan 05
Founder exercised options and sold US$62k worth of stock On the 1st of January, Tracy Krohn exercised options to acquire 37k shares at no cost and sold these for an average price of US$1.66 per share. This trade did not impact their existing holding. For the year to December 2018, Tracy's total compensation was 15% salary and 85% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since June 2024, Tracy has owned 48.33m shares directly. Company insiders have collectively sold US$212k more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Nov 22
Consensus EPS estimates fall by 26% The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -US$0.54 to -US$0.68 per share. Revenue forecast unchanged at US$535.0m. Oil and Gas industry in the US expected to see average net income growth of 4.1% next year. Consensus price target of US$10.00 unchanged from last update. Share price was steady at US$1.97 over the past week. Declared Dividend • Nov 11
Third quarter dividend of US$0.01 announced Dividend of US$0.01 is the same as last year. Ex-date: 21st November 2024 Payment date: 29th November 2024 Dividend yield will be 1.9%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Reported Earnings • Nov 08
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: US$0.25 loss per share (down from US$0.015 profit in 3Q 2023). Revenue: US$121.4m (down 15% from 3Q 2023). Net loss: US$36.9m (down US$39.1m from profit in 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 32%. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 3.0% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Annonce • Oct 30
W&T Offshore, Inc. to Report Q3, 2024 Results on Nov 07, 2024 W&T Offshore, Inc. announced that they will report Q3, 2024 results After-Market on Nov 07, 2024 Annonce • Sep 03
W&T Offshore, Inc. Announces Appointment of George J. Hittner as Executive Vice President, General Counsel and Corporate Secretary W&T Offshore, Inc. announced the appointment of George J. Hittner as Executive Vice President, General Counsel and Corporate Secretary, effective September 1, 2024. Mr. Hittner brings a unique and extensive combination of legal, corporate and legislative experience in both the public and private sectors. Before founding his own law firm in 2017, Mr. Hittner worked as general counsel, corporate secretary, and senior vice president for governmental relations at Mesa, Arizona-based American Traffic Solutions, Inc. At ATS, Mr. Hittner managed the company’s full spectrum of legal and legislative affairs, including supervising external law firms and external consultants and lobbyists across numerous states, territories, and Canadian provinces. Included amongst his achievements, Mr. Hittner was named “Litigator of the Year” in 2013 by the Arizona chapter, Association of Corporate Counsel. Mr. Hittner has also worked as a White House appointee at both the U.S. Department of Labor and U.S. Department of Transportation. Earlier in his career, Mr. Hittner worked for a major Texas-based law firm, where his focus was business litigation and employment and labor law. A native Texan, Mr. Hittner is an Eagle Scout and has been active on both the local and national levels with the Boy Scouts of America. He is also the founder of the Houston Firefighters Foundation as well as the Wentworth Military Academy Museum. Mr. Hittner received a Bachelor of Science degree from Texas A&M University, a Juris Doctor degree from The University of Texas School of Law, a Master of Public Affairs from The University of Texas Lyndon B. Johnson School of Public Affairs, and a Master of Business. Major Estimate Revision • Aug 15
Consensus EPS estimates fall by 95% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$622.4m to US$598.8m. Losses expected to increase from US$0.20 per share to US$0.39. Oil and Gas industry in the US expected to see average net income growth of 15% next year. Consensus price target of US$10.00 unchanged from last update. Share price rose 2.2% to US$2.29 over the past week. Upcoming Dividend • Aug 13
Upcoming dividend of US$0.01 per share Eligible shareholders must have bought the stock before 20 August 2024. Payment date: 27 August 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.8%. Lower than top quartile of American dividend payers (4.6%). Lower than average of industry peers (4.1%). Reported Earnings • Aug 07
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: US$0.10 loss per share (further deteriorated from US$0.083 loss in 2Q 2023). Revenue: US$142.8m (up 13% from 2Q 2023). Net loss: US$15.4m (loss widened 27% from 2Q 2023). Revenue missed analyst estimates by 3.6%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 5.4% p.a. on average during the next 2 years, compared to a 1.9% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Annonce • Aug 02
W&T Offshore, Inc. to Report Q2, 2024 Results on Aug 06, 2024 W&T Offshore, Inc. announced that they will report Q2, 2024 results After-Market on Aug 06, 2024 Buy Or Sell Opportunity • Jul 26
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 1.3% to US$2.38. The fair value is estimated to be US$1.95, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 11% in a year. Earnings are forecast to decline by 45% in the next year. Major Estimate Revision • Jul 25
Consensus EPS estimates fall by 122% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$637.8m to US$597.5m. Losses expected to increase from US$0.09 per share to US$0.20. Oil and Gas industry in the US expected to see average net income growth of 18% next year. Consensus price target of US$10.00 unchanged from last update. Share price fell 3.3% to US$2.34 over the past week. Recent Insider Transactions Derivative • Jun 10
Founder exercised options and sold US$90k worth of stock On the 5th of June, Tracy Krohn exercised options to acquire 42k shares at no cost and sold these for an average price of US$2.14 per share. This trade did not impact their existing holding. For the year to December 2017, Tracy's total compensation was 15% salary and 85% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since September 2023, Tracy's direct individual holding has increased from 48.17m shares to 48.33m. Company insiders have collectively sold US$521k more than they bought, via options and on-market transactions in the last 12 months. New Risk • Jun 03
New major risk - Revenue and earnings growth Earnings have declined by 9.5% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 9.5% per year over the past 5 years. Price Target Changed • Jun 03
Price target increased by 14% to US$10.00 Up from US$8.75, the current price target is provided by 1 analyst. New target price is 348% above last closing price of US$2.23. Stock is down 44% over the past year. The company is forecast to post a net loss per share of US$0.09 compared to earnings per share of US$0.11 last year. Major Estimate Revision • Jun 02
Consensus estimates of losses per share improve by 40% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has improved. 2024 revenue forecast increased from US$613.6m to US$637.8m. EPS estimate increased from -US$0.15 per share to -US$0.09 per share. Oil and Gas industry in the US expected to see average net income growth of 14% next year. Consensus price target of US$8.90 unchanged from last update. Share price was steady at US$2.23 over the past week. Annonce • May 25
W&T Offshore, Inc. Announces Resignation of Jonathan Curth as Executive Vice President, General Counsel and Corporate Secretary W&T Offshore, Inc. announced on May 20, 2024, the Board of Directors of the company approved the acceptance of the resignation of Jonathan Curth as Executive Vice President, General Counsel and Corporate Secretary, effective May 24, 2024. Upcoming Dividend • May 16
Upcoming dividend of US$0.01 per share Eligible shareholders must have bought the stock before 23 May 2024. Payment date: 31 May 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of American dividend payers (4.6%). Lower than average of industry peers (3.9%). Reported Earnings • May 12
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: US$0.078 loss per share (down from US$0.18 profit in 1Q 2023). Revenue: US$140.8m (up 6.9% from 1Q 2023). Net loss: US$11.5m (down 144% from profit in 1Q 2023). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to stay flat during the next 3 years compared to a 2.1% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. New Risk • May 12
New minor risk - Profitability The company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: US$22m Forecast net loss in 2 years: US$25m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Currently unprofitable and not forecast to become profitable over next 2 years (US$25m net loss in 2 years). 
