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!
- Kosmos Sells Stake in Equatorial Guinea Assets to Panoro Energy
- Equinor Unveils Production Growth & Buyback Strategy Through 2030
- ExxonMobil Advances New Exploration Push in Guyana's Stabroek Block
- Equinor Advances Johan Sverdrup Phase 4 With Latest Oil Finds
- Comstock Strengthens Balance Sheet With $600M Pinnacle Transaction
- Repsol Sells 49.99% Stake in Renewable Asset Portfolio in Spain
- Chevron and Partners to Support TGS-Led Argentina NGL Project
- Venture Global & Atlantic-SEE Double LNG Supply to Greece
- Petrobras to Acquire 50% Interest in Exploration Block Offshore Brazil
- Noble Secures New Drilling Contract on the UK Continental Shelf
