Huber Capital Management LLC Grows Holdings 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 boosted its stake in W&T Offshore, Inc. (NYSE:WTI - Free Report) by 35.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,858,684 shares of the oil and gas company's stock after acquiring an additional 1,808,234 shares during the period. W&T Offshore accounts for about 2.0% of Huber Capital Management LLC's holdings, making the stock its 17th biggest position. Huber Capital Management LLC owned about 4.65% of W&T Offshore worth $10,631,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Ameriprise Financial Inc. raised its position in W&T Offshore by 427.0% in the fourth quarter. Ameriprise Financial Inc. now owns 3,831,604 shares of the oil and gas company's stock worth $6,360,000 after acquiring an additional 3,104,484 shares during the period. Millennium Management LLC raised its position in W&T Offshore by 31.2% in the fourth quarter. Millennium Management LLC now owns 2,472,996 shares of the oil and gas company's stock worth $4,105,000 after acquiring an additional 588,106 shares during the period. Russell Investments Group Ltd. raised its position in W&T Offshore by 11.2% in the first quarter. Russell Investments Group Ltd. now owns 1,284,183 shares of the oil and gas company's stock worth $1,990,000 after acquiring an additional 129,564 shares during the period. First Trust Advisors LP raised its position in W&T Offshore by 86.0% in the fourth quarter. First Trust Advisors LP now owns 974,242 shares of the oil and gas company's stock worth $1,617,000 after acquiring an additional 450,467 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new stake in W&T Offshore in the fourth quarter worth about $1,608,000. Institutional investors own 42.88% of the company's stock.

W&T Offshore Stock Up 0.3%

NYSE:WTI traded up $0.01 during mid-day trading on Tuesday, hitting $1.83. 239,770 shares of the stock traded hands, compared to its average volume of 1,718,756. The business's 50-day moving average price is $1.75 and its 200 day moving average price is $1.59. The company has a market cap of $270.72 million, a PE ratio of -2.40 and a beta of 0.73. 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) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.06. The firm had revenue of $122.37 million for the quarter, compared to analysts' expectations of $131.30 million. Analysts anticipate that W&T Offshore, Inc. will post -0.45 earnings per share for the current fiscal year.

W&T Offshore Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of 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.