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!
- W&T Offshore Announces Timing of Fourth Quarter and Full Year 2024 Earnings Release and Conference Call
- Institutional investors own a significant stake of 35% in W&T Offshore, Inc. (NYSE:WTI)
- W&T Offshore Announces Closing of $350 Million Senior Second Lien Notes Offering And Additional Strengthening of Balance Sheet
- W&T Offshore Announces Initial Results of Cash Tender Offer and Consent Solicitation
- 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
