|Bid||7.780 x 800|
|Ask||7.790 x 1100|
|Day's Range||7.660 - 7.870|
|52 Week Range||2.600 - 9.880|
|Beta (3Y Monthly)||2.69|
|PE Ratio (TTM)||12.96|
|Earnings Date||Oct 31, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||8.25|
W&T (WTI) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
So far in this series, we’ve looked at Northern Oil & Gas (NOG), Denbury Resources (DNR), California Resources (CRC), W&T Offshore (WTI), Whiting Petroleum (WLL), and Penn Virginia (PVAC). In this article, we’ll focus on Viper Energy Partners (VNOM).
W&T Offshore (WTI), an exploration and production company involved in offshore drilling, has fallen ~23% this month, while the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has lost ~5%. WTI is ~180% higher than its 52-week low despite its recent correction, possibly due to the company’s earnings being boosted YoY (year-over-year) by higher average realized prices. In the second quarter, WTI’s average realized crude oil price rose 50.6% YoY to $67.10 per barrel from $44.50 per barrel.
The International Energy Agency (IEA) is concerned about a dramatic upswing in energy prices, according to its latest monthly report, with oil, gas and coal prices currently trading at multi-year highs.
Oil prices have surged more than 25 percent this year, prompting some investors to speculate about the possibility of a return to triple-digits before year-end. Meanwhile, President Donald Trump has repeatedly blamed OPEC for rising gasoline costs, as prices continue to head in the wrong direction for American consumers with midterms just around the corner. The closely-watched report comes less than four weeks before the U.S is set to impose targeted crude sanctions against Iran, with Brent prices now established above $80 a barrel.
The aggregate principal amount of the senior second lien notes being offered by W&T Offshore (WTI) is estimated at $625 million.
Ring Energy (REI), a crude oil–weighted exploration and production company focused in the Permian Basin, was the weakest upstream stock in the week ending October 5. Ring Energy fell 17.4% last week. The decline could be due to a rating downgrade and a target price cut at Morgan Stanley.
So far in this series, we have discusses the top four upstream companies based on their one-year returns—Denbury Resources (DNR), California Resources (CRC), W&T Offshore (WTI), and Whiting Petroleum (WLL). In this part, we’ll discuss Viper Energy Partners (VNOM), which is fifth in terms of one-year returns.
W&T Offshore (WTI), an exploration and production company involved in offshore drilling, has seen a strong rally since the beginning of September. The company has risen 31.2% in September. W&T Offshore’s strong rally could be attributed to the gains in crude oil prices and the recent announcement about divesting a few of its non-core assets. Overall, the company has gained ~170% in the past year.
US crude oil has seen a strong rally since the beginning of September. US crude oil breached $72 per barrel. WTI has risen more than 3% in September. The recent positive sentiment in US crude is due to supply concerns amid Iran sanctions. For a recent update and the outlook on US crude oil prices, read Bears Beware: Crude Oil Approaches New High.
The Zacks Analyst Blog Highlights: Magnolia Oil, Denbury Resources, W&T, Matador and Northern Oil
Since America will likely be on course to produce more crude, it is time to tap the crude rally with oil producers in the United States.
W&T Offshore (WTI) intends to drill a second exploration well, ST 320 A-3, post completion of the ST 320 A-2 in the Ewing Bank 910 field.
Since W&T Offshore's (WTI) production comprises 50% oil, the company is well positioned to capitalize on the massive recovery in the crude pricing environment.
Southwestern Energy (SWN), a natural gas–weighted exploration and production company focused in the Appalachian Basin, was the strongest upstream stock in the week ending September 21. Southwestern Energy rallied 15.7% last week. The rally could be attributed to the gains in natural gas prices. Overall, Southwestern Energy has gained 3.0% since the beginning of this year.
W&T (WTI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
California Resources (CRC) was the top E&P (exploration and production) gainer in the week that ended on August 24, with a week-over-week rise of 22.2%. CRC saw a sharp recovery last week after a steep fall in the week that ended on August 17.