Three analysts have increased their EPS estimates for this energy firm. The company beat earnings forecasts by $0.10 last quarter.
W&T Offshore, Inc. (WTI)
From Schaeffer’s Investment Research
W&T Offshore, Inc. (WTI) stock has nearly quadrupled in value over the past year, rallying more than 278% since trading in the low single digits. The equity tapped a three-year high of $9.12 on July 23, but subsequently took a breather. Today, WTI shares are up 0.8% to trade at $7.18, as traders continue to applaud the company’s stronger-than-expected quarterly earnings, released earlier this week
In light of the pullback from new highs, WTI is now within one standard deviation of its 80-day moving average, after a lengthy stretch above this trendline. There have been six similar pullbacks for WTI in the past, after which the stock went on to average a one-month gain of 15.5%, per data from Schaeffer’s Senior Quantitative Analyst Rocky White.
Despite the equity’s impressive rally in the past year, analysts remain wary of the penny stock. Just one out of four brokerage firms deems WTI worthy of a “buy” or better rating. Should the shares once again bounce off their 80-day, a round of positive analyst initiations or upgrades could lure more buyers to the table.
Bernie Schaeffer, Schaeffer’s Investment Research, http://www.SchaeffersResearch.com, 800-327-8833, August 6, 2018