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W&T Offshore (WTI) Outpaces Stock Market Gains: What You Should Know
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W&T Offshore (WTI - Free Report) closed at $5.90 in the latest trading session, marking a +1.37% move from the prior day. This move outpaced the S&P 500's daily gain of 0.76%. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq lost 0.98%.
Coming into today, shares of the independent oil and gas company had lost 3% in the past month. In that same time, the Oils-Energy sector lost 1.99%, while the S&P 500 lost 3.91%.
Wall Street will be looking for positivity from W&T Offshore as it approaches its next earnings report date. This is expected to be March 7, 2023. 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 should also note any recent changes to analyst estimates for W&T Offshore. Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. W&T Offshore currently has a Zacks Rank of #3 (Hold).
Digging into valuation, W&T Offshore currently has a Forward P/E ratio of 5.41. Its industry sports an average Forward P/E of 5.93, 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 239, which puts it in the bottom 6% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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W&T Offshore (WTI) Outpaces Stock Market Gains: What You Should Know
W&T Offshore (WTI - Free Report) closed at $5.90 in the latest trading session, marking a +1.37% move from the prior day. This move outpaced the S&P 500's daily gain of 0.76%. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq lost 0.98%.
Coming into today, shares of the independent oil and gas company had lost 3% in the past month. In that same time, the Oils-Energy sector lost 1.99%, while the S&P 500 lost 3.91%.
Wall Street will be looking for positivity from W&T Offshore as it approaches its next earnings report date. This is expected to be March 7, 2023. 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 should also note any recent changes to analyst estimates for W&T Offshore. Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. W&T Offshore currently has a Zacks Rank of #3 (Hold).
Digging into valuation, W&T Offshore currently has a Forward P/E ratio of 5.41. Its industry sports an average Forward P/E of 5.93, 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 239, which puts it in the bottom 6% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.