Turkey Stock Week – W&T Offshore (WTI)
December 3, 2013 11:46 am
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 Earns Ratings Upgrade Following Debt Swap (WTI)
- Hedge Funds’ Net Long Positions in US Crude Oil Contracts Rose
- W&T Offshore Announces Closing of Exchange Offer and New Capital Financing
- W&T Offshore Announces Early Participation Results for Exchange Offer and Consent Solicitation
- W&T Offshore Announces Expiration and Final Results for Exchange Offer and Consent Solicitation
- Oil drillers are adding rigs at the fastest pace since before the oil crash
- Stocks and oil are sliding
- W&T Offshore, Inc. -- Moody's upgrades W&T Offshore to Caa2; PDR to Caa2-PD/LD
- Hedge Funds Cut Bullish Positions on US Crude Oil Contracts
- There's a 'black gold rush' happening in America