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!
- Eni Teams Up With Mercuria to Boost Global Energy Trading Footprint
- E Launches New Compression Project to Sustain Bahr Essalam Gas Output
- Equinor Strengthens Norwegian Portfolio With Strategic Asset Swap
- MTDR's San Mateo Unit to Expand Midstream Footprint With Cardinal Deal
- Eni Expands Upstream Gas Portfolio With Argentina's Vaca Muerta Stake
- BKR Wins Angola Contract for Azule Energy's Greater PAJ Development
- EQNR Exits Japan Offshore Wind Business, Prioritizes Integrated Power
- BP Inks New Deal With ADNOC to Develop UAE's Bab Gas Cap Project
- Baker Hughes Unlocks Geothermal Opportunity in North America
- Saipem Secures New Offshore Contract for the Greater PAJ Development
