Huber Capital Management LLC Sells 1,231,321 Shares of W&T Offshore, Inc. $WTI

Huber Capital Management LLC reduced its holdings in W&T Offshore, Inc. (NYSE:WTI) by 24.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor 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 owned about 2.51% of W&T Offshore worth $6,098,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Barclays PLC increased its holdings in W&T Offshore by 10.7% in the fourth quarter. Barclays PLC now owns 154,556 shares of the oil and gas company’s stock worth $252,000 after purchasing an additional 14,886 shares in the last quarter. Marshall Wace LLP increased its holdings in W&T Offshore by 599.9% in the fourth quarter. Marshall Wace LLP now owns 192,504 shares of the oil and gas company’s stock worth $314,000 after purchasing an additional 165,001 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in W&T Offshore by 25.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,540,588 shares of the oil and gas company’s stock worth $4,141,000 after purchasing an additional 508,050 shares in the last quarter. State Street Corp increased its holdings in W&T Offshore by 0.5% in the fourth quarter. State Street Corp now owns 2,680,643 shares of the oil and gas company’s stock worth $4,369,000 after purchasing an additional 14,426 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its holdings in W&T Offshore by 86.2% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 32,235 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 14,920 shares in the last quarter. 42.88% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Zacks Research downgraded W&T Offshore from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Wall Street Zen upgraded W&T Offshore from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. William Blair initiated coverage on W&T Offshore in a report on Friday, April 17th. They issued an “outperform” rating for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of W&T Offshore in a report on Monday, April 20th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, W&T Offshore presently has a consensus rating of “Hold”.

W&T Offshore Stock Down 1.1%

NYSE WTI opened at $4.07 on Friday. The company 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, Inc. has a 52 week low of $1.50 and a 52 week high of $5.08. The business has a 50 day moving average price of $3.81 and a 200-day moving average price of $2.78.

W&T Offshore (NYSE:WTI) last announced its 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 the consensus estimate of $115.36 million. On average, equities research analysts anticipate that W&T Offshore, Inc. will post -0.12 earnings per share for the current year.

W&T Offshore Announces Dividend

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

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.