Huber Capital Management LLC Lowers Position in W&T Offshore, Inc. $WTI

Huber Capital Management LLC lowered its holdings in W&T Offshore, Inc. (NYSE:WTI) by 24.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,740,886 shares of the oil and gas company’s stock after selling 1,231,321 shares during the quarter. Huber Capital Management LLC’s holdings in W&T Offshore were worth $6,098,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. AXQ Capital LP bought a new position in shares of W&T Offshore during the 3rd quarter valued at about $28,000. StoneX Group Inc. bought a new position in shares of W&T Offshore during the 4th quarter valued at about $28,000. Oxford Asset Management LLP bought a new position in shares of W&T Offshore during the 2nd quarter valued at about $29,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of W&T Offshore during the 3rd quarter valued at about $30,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of W&T Offshore during the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 42.88% of the company’s stock.

W&T Offshore Price Performance

WTI opened at $4.07 on Friday. The stock’s 50 day simple moving average is $3.81 and its 200 day simple moving average is $2.78. W&T Offshore, Inc. has a 1 year low of $1.50 and a 1 year high of $5.08. The firm has a market cap of $604.79 million, a price-to-earnings ratio of -4.28 and a beta of 0.24.

W&T Offshore (NYSE:WTI) last posted its quarterly earnings results on Monday, March 9th. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The company had revenue of $121.71 million during the quarter, compared to analyst estimates of $115.36 million. As a group, sell-side analysts anticipate that W&T Offshore, Inc. will post -0.12 EPS for the current year.

W&T Offshore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Thursday, May 21st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, May 21st. W&T Offshore’s dividend payout ratio (DPR) is presently -4.21%.

Analyst Upgrades and Downgrades

WTI has been the topic of several recent research reports. Wall Street Zen upgraded W&T Offshore from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. William Blair began coverage on W&T Offshore in a research report on Friday, April 17th. They set an “outperform” rating on the stock. Zacks Research lowered W&T Offshore from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a research report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, W&T Offshore currently has an average rating of “Hold”.

About W&T Offshore

W&T Offshore, Inc is an independent oil and gas exploration and production company focused primarily on offshore operations in the Gulf of Mexico. The company acquires, develops and produces crude oil and natural gas reserves, operating a portfolio of producing properties that encompasses both shallow-water and deepwater assets. W&T Offshore leverages its technical expertise and asset management capabilities to optimize field development and production efficiency across its portfolio.

Founded in 1983 and headquartered in Covington, Louisiana, W&T Offshore has built a track record of disciplined growth through strategic acquisitions and targeted exploration activities.