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 Kicks Off Production at Johan Castberg in Barents Sea
- SLB Secures Major Drilling Deal for Woodside's Trion Project
- BP to Offload 260+ Austrian Retail Sites, EV Assets by Q3
- BP Gets Final Approval for Iraq's Kirkuk Oil Redevelopment
- Baker Hughes Secures Coiled-Tubing Drilling Deal in Dubai
- Equinor Advances North Sea Exploration With Deepsea Atlantic
- BP's Strategy Under Scrutiny as Elliott Pushes for Further Changes
- W&T Offshore Announces Management Promotion
- Equinor Acquires 95 MW Wind Farm in Sweden to Boost Green Energy
- All You Need to Know About W&T (WTI) Rating Upgrade to Buy
