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 Announces Participation in Water Tower Research Fireside Chat on March 27, 2024
- W&T Offshore Announces Liquidity-Enhancing Modifications to the Non-Recourse Term Loan with Munich Re
- W&T Offshore Announces Participation in 36th Annual Roth Conference
- Will the Ends Justify the Means for W&T Offshore?
- W&T Offshore, Inc. (NYSE:WTI) Pays A US$0.01 Dividend In Just Four Days
- W&T Offshore Full Year 2023 Earnings: EPS Beats Expectations
- W&T Offshore Inc Reports Mixed 2023 Results and Optimistic Outlook for 2024
- W&T Offshore (WTI) Q4 Earnings Lag Estimates on Lower Prices
- W&T Offshore, Inc. (NYSE:WTI) Q4 2023 Earnings Call Transcript
- Q4 2023 W&T Offshore Inc Earnings Call