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W&T Offshore (WTI) Gains As Market Dips: What You Should Know
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In the latest trading session, W&T Offshore (WTI - Free Report) closed at $5.63, marking a +1.81% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.05%. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 1.64%.
Coming into today, shares of the independent oil and gas company had lost 14.92% in the past month. In that same time, the Oils-Energy sector lost 4.5%, while the S&P 500 gained 0.01%.
Investors will be hoping for strength from W&T Offshore as it approaches its next earnings release. The company is expected to report EPS of $0.03, down 70% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $182.39 million, up 10.14% from the year-ago period.
Investors should also note any recent changes to analyst estimates for W&T Offshore. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 6.93% lower within the past month. W&T Offshore is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, W&T Offshore is holding a Forward P/E ratio of 5.14. For comparison, its industry has an average Forward P/E of 5.6, which means W&T Offshore is trading at a discount to the group.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 241, which puts it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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W&T Offshore (WTI) Gains As Market Dips: What You Should Know
In the latest trading session, W&T Offshore (WTI - Free Report) closed at $5.63, marking a +1.81% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.05%. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 1.64%.
Coming into today, shares of the independent oil and gas company had lost 14.92% in the past month. In that same time, the Oils-Energy sector lost 4.5%, while the S&P 500 gained 0.01%.
Investors will be hoping for strength from W&T Offshore as it approaches its next earnings release. The company is expected to report EPS of $0.03, down 70% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $182.39 million, up 10.14% from the year-ago period.
Investors should also note any recent changes to analyst estimates for W&T Offshore. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 6.93% lower within the past month. W&T Offshore is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, W&T Offshore is holding a Forward P/E ratio of 5.14. For comparison, its industry has an average Forward P/E of 5.6, which means W&T Offshore is trading at a discount to the group.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 241, which puts it in the bottom 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.