NEW YORK ( TheStreet) -- Shares of W&T Offshore (NYSE: WTI) were gapping down Wednesday morning with an open price 10.7% lower than Tuesday's closing price. The stock closed at $24.64 Tuesday and opened today's trading at $22. The average volume for W&T has been 857,900 shares per day over the past 30 days. W&T has a market cap of $1.9 billion and is part of the basic materials sector and energy industry. Shares are up 37.9% year to date as of the close of trading on Tuesday. W&T Offshore, Inc., together with its subsidiaries, engages in the acquisition, exploitation, exploration, production, and development of oil and natural gas properties in the Gulf of Mexico. The company has a P/E ratio of 11.9, below the average energy industry P/E ratio of 13 and below the S&P 500 P/E ratio of 21.9. TheStreet Ratings rates W&T as hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the company's revenue growth has not been good. You can view the full W&T Ratings Report. Get more investment ideas from our investment research center.
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