Huber Capital Management LLC Has $10.63 Million Stock Position in W&T Offshore, Inc. $WTI

Key Points

• Huber Capital Management LLC increased its holdings in W&T Offshore by 35.8%, acquiring an additional 1,808,234 shares, bringing its total to 6,858,684 shares.
• W&T Offshore recently reported a quarterly loss of $0.08 earnings per share, beating consensus estimates but falling short on revenue expectations.
• The company declared a quarterly dividend of $0.01 per share, which translates to an annual yield of 2.2%, with a current dividend payout ratio of -5.26%.

Huber Capital Management LLC raised its stake in shares of W&T Offshore, Inc. (NYSE:WTI - Free Report) by 35.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,858,684 shares of the oil and gas company's stock after purchasing an additional 1,808,234 shares during the period. W&T Offshore accounts for 2.0% of Huber Capital Management LLC's portfolio, making the stock its 17th largest holding. Huber Capital Management LLC owned 4.65% of W&T Offshore worth $10,631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its position in shares of W&T Offshore by 24.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 39,829 shares of the oil and gas company's stock valued at $67,000 after acquiring an additional 7,776 shares during the period. Inspire Advisors LLC boosted its position in shares of W&T Offshore by 10.0% in the first quarter. Inspire Advisors LLC now owns 120,643 shares of the oil and gas company's stock valued at $187,000 after acquiring an additional 10,962 shares during the period. Wells Fargo & Company MN boosted its position in shares of W&T Offshore by 39.9% in the fourth quarter. Wells Fargo & Company MN now owns 46,419 shares of the oil and gas company's stock valued at $77,000 after acquiring an additional 13,237 shares during the period. Barclays PLC boosted its position in shares of W&T Offshore by 11.0% in the fourth quarter. Barclays PLC now owns 156,226 shares of the oil and gas company's stock valued at $259,000 after acquiring an additional 15,445 shares during the period. Finally, R Squared Ltd lifted its position in W&T Offshore by 48.6% in the first quarter. R Squared Ltd now owns 48,500 shares of the oil and gas company's stock worth $75,000 after purchasing an additional 15,870 shares during the period. 42.88% of the stock is owned by institutional investors.

W&T Offshore Stock Performance

Shares of NYSE WTI traded up $0.02 during midday trading on Monday, reaching $1.82. 533,399 shares of the company traded hands, compared to its average volume of 1,053,745. The firm has a market cap of $269.24 million, a PE ratio of -2.39 and a beta of 0.73. The stock's 50-day simple moving average is $1.76 and its 200-day simple moving average is $1.59. W&T Offshore, Inc. has a 12 month low of $1.09 and a 12 month high of $2.84.

W&T Offshore (NYSE:WTI - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The oil and gas company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.06. The company had revenue of $122.37 million for the quarter, compared to the consensus estimate of $131.30 million. On average, equities research analysts expect that W&T Offshore, Inc. will post -0.45 EPS for the current year.

W&T Offshore Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 18th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, August 18th. W&T Offshore's payout ratio is currently -5.26%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised W&T Offshore from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd.

About W&T Offshore

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.