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