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!
- Sector Update: Energy Stocks Edge Higher Premarket Wednesday
- W&T Offshore Prices $350 Million Senior Second Lien Notes Offering
- W&T Offshore Commences Cash Tender Offer and Consent Solicitation
- Sector Update: Energy Stocks Rise Pre-Bell Monday
- W&T Offshore Announces Proposed Senior Second Lien Notes Offering
- W&T Offshore Secures Settlement and Strategic Asset Sale
- W&T Offshore to Receive $58.5 Million Cash Insurance Settlement; Plans Field Restarts in Q2
- W&T Offshore Provides Updates on Recent Developments
- W&T Offshore (NYSE:WTI) shareholders have endured a 73% loss from investing in the stock five years ago
- Texas Oil Company Asks Federal Court to Stop Insurance Companies’ $250 Million Demand for Additional Collateral
