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W&T Offshore (WTI) Gains As Market Dips: What You Should Know
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W&T Offshore (WTI - Free Report) closed the most recent trading day at $5.84, moving +1.92% from the previous trading session. This change outpaced the S&P 500's 1.04% loss on the day. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 5.88%.
Coming into today, shares of the independent oil and gas company had gained 11.91% in the past month. In that same time, the Oils-Energy sector lost 0.27%, while the S&P 500 gained 8.97%.
Wall Street will be looking for positivity from W&T Offshore as it approaches its next earnings report date. In that report, analysts expect W&T Offshore to post earnings of $0.03 per share. This would mark a year-over-year decline of 70%. Meanwhile, our latest consensus estimate is calling for revenue of $182.39 million, up 10.14% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for W&T Offshore. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.93% lower. W&T Offshore is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that W&T Offshore has a Forward P/E ratio of 5.33 right now. This valuation marks a discount compared to its industry's average Forward P/E of 5.93.
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 245, which puts it in the bottom 3% 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.
To follow WTI in the coming trading sessions, be sure to utilize Zacks.com.
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W&T Offshore (WTI) Gains As Market Dips: What You Should Know
W&T Offshore (WTI - Free Report) closed the most recent trading day at $5.84, moving +1.92% from the previous trading session. This change outpaced the S&P 500's 1.04% loss on the day. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 5.88%.
Coming into today, shares of the independent oil and gas company had gained 11.91% in the past month. In that same time, the Oils-Energy sector lost 0.27%, while the S&P 500 gained 8.97%.
Wall Street will be looking for positivity from W&T Offshore as it approaches its next earnings report date. In that report, analysts expect W&T Offshore to post earnings of $0.03 per share. This would mark a year-over-year decline of 70%. Meanwhile, our latest consensus estimate is calling for revenue of $182.39 million, up 10.14% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for W&T Offshore. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 6.93% lower. W&T Offshore is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that W&T Offshore has a Forward P/E ratio of 5.33 right now. This valuation marks a discount compared to its industry's average Forward P/E of 5.93.
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 245, which puts it in the bottom 3% 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.
To follow WTI in the coming trading sessions, be sure to utilize Zacks.com.