W&T Offshore Shares Popped: What You Need to Know

Before you go, we thought you'd like these...
Before you go close icon

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of W&T Offshore (NYS: WTI) jumped 16% today in the company's second big jump of the week.

So what: Earlier this week, higher oil prices were driving shares higher, but this time an analyst is driving the move by upgrading shares. Global Hunter Securities upgraded W&T Offshore from accumulate to buy, which sounds very similar to me, but has investors hitting the buy button today.

Now what: Oil is actually down slightly today so the move is a welcome sight in the industry. Shares are currently trading with a 10.7 trailing P/E ratio and an eight forward P/E ratio, so I think there's still some upside potential here.

I'm going so far as to give W&T a green thumb on My CAPS page on the belief that oil prices will continue to rise and shares are providing investors with an attractive value.

Interested in more info on W&T Offshore? Add it to your watchlist byclicking here.

At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Motley Fool newsletter services have recommended buying shares of W&T Offshore. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2011 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners