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W&T Offshore (WTI) Stock Sinks As Market Gains: What You Should Know
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W&T Offshore (WTI - Free Report) closed at $6.07 in the latest trading session, marking a -1.78% move from the prior day. This change lagged the S&P 500's daily gain of 1.15%. Elsewhere, the Dow gained 1.11%, while the tech-heavy Nasdaq added 11.35%.
Heading into today, shares of the independent oil and gas company had gained 2.83% over the past month, lagging the Oils-Energy sector's gain of 3.79% and the S&P 500's gain of 4.49% in that time.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 6.93% lower. W&T Offshore is currently a Zacks Rank #4 (Sell).
Digging into valuation, W&T Offshore currently has a Forward P/E ratio of 5.75. Its industry sports an average Forward P/E of 6.14, so we one might conclude that W&T Offshore is trading at a discount comparatively.
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 244, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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) Stock Sinks As Market Gains: What You Should Know
W&T Offshore (WTI - Free Report) closed at $6.07 in the latest trading session, marking a -1.78% move from the prior day. This change lagged the S&P 500's daily gain of 1.15%. Elsewhere, the Dow gained 1.11%, while the tech-heavy Nasdaq added 11.35%.
Heading into today, shares of the independent oil and gas company had gained 2.83% over the past month, lagging the Oils-Energy sector's gain of 3.79% and the S&P 500's gain of 4.49% in that time.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 6.93% lower. W&T Offshore is currently a Zacks Rank #4 (Sell).
Digging into valuation, W&T Offshore currently has a Forward P/E ratio of 5.75. Its industry sports an average Forward P/E of 6.14, so we one might conclude that W&T Offshore is trading at a discount comparatively.
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 244, which puts it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.