W&T Offshore, Inc. $WTI Shares Sold by Huber Capital Management LLC

Huber Capital Management LLC decreased its holdings in W&T Offshore, Inc. (NYSE:WTI) by 7.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,972,207 shares of the oil and gas company’s stock after selling 421,104 shares during the quarter. W&T Offshore accounts for about 1.4% of Huber Capital Management LLC’s holdings, making the stock its 24th biggest holding. Huber Capital Management LLC owned about 3.34% of W&T Offshore worth $9,049,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. AXQ Capital LP purchased a new position in W&T Offshore in the 3rd quarter valued at approximately $28,000. Oxford Asset Management LLP acquired a new stake in shares of W&T Offshore in the second quarter valued at $29,000. HBK Sorce Advisory LLC purchased a new position in W&T Offshore in the third quarter valued at $30,000. Wealth Enhancement Advisory Services LLC acquired a new position in W&T Offshore during the 3rd quarter worth $30,000. Finally, CWM LLC increased its holdings in W&T Offshore by 181.6% during the 3rd quarter. CWM LLC now owns 16,908 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 10,904 shares during the period. 42.88% of the stock is owned by hedge funds and other institutional investors.

W&T Offshore Stock Performance

Shares of NYSE:WTI traded down $0.28 on Friday, hitting $3.19. 2,794,568 shares of the company’s stock were exchanged, compared to its average volume of 4,640,171. W&T Offshore, Inc. has a 1-year low of $1.09 and a 1-year high of $4.04. The company has a market capitalization of $473.86 million, a PE ratio of -3.19 and a beta of 0.26. The firm’s 50-day moving average is $2.28 and its 200 day moving average is $2.02.

W&T Offshore (NYSE:WTI) last issued its earnings results on Monday, March 16th. The oil and gas company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The firm had revenue of $121.71 million during the quarter, compared to analyst estimates of $115.36 million. On average, analysts anticipate that W&T Offshore, Inc. will post -0.45 EPS for the current fiscal year.

W&T Offshore Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 19th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, March 19th. W&T Offshore’s payout ratio is currently -3.96%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WTI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of W&T Offshore in a research report on Wednesday, January 21st. Zacks Research downgraded shares of W&T Offshore from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 26th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently 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.