Continuing on with the Turkey stocks for this week, today we are focusing on W&T Offshore (WTI). The company recently had some bad news as the company announced it is facing regulatory hurdles imposed by the Environmental Protection Agency. The Houston-based miner announced last week that it had received suspension notices from government regulators concerning its oil and gas leases in the Gulf of Mexico. The notices pertain to a minor oil leak in 2009 which breached the Clean Water Act.
That hit the stock hard.
From the fundamental perspective, the company has a significant amount of debt (200%) as compared to equity. The EPS growth rate has been negative and the outlook does not look impressive.
Looking out further, the expected revenue growth is in the single digits and that could be lowered due to the recent suspensions.
Technically the stock scores very low. The price is in a downtrend and recently cut below the key support level.
Recent WTI News from Yahoo!
- Equinor to Invest NOK 21B in Fram Sor Oil and Gas Project
- Eni's Plenitude to Build Solar Plant for Modine in Italy
- Eni & Its Plastics Unit Novamont Face 32M Euro Market Abuse Fine
- SLB Warns of Flat Q2 on Saudi and Latin America Activity Slowdown
- W&T Offshore (WTI) Skyrocketed This Week. Here is Why.
- Petrobras Invests $892M to Double Capacity at RNEST Refinery
- Sector Update: Energy Stocks Advance Pre-Bell Tuesday
- Petrobras Awards a PRM Contract to Geospace to Install OptoSeis
- Shell Awards Key EPC Contract to TendrillWood Joint Venture
- W&T Announces Settlement Agreement with Majority of Surety Providers
