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Why Swift Energy (SFY) Is Plummeting Today

NEW YORK (TheStreet) -- Swift Energy (SFY) was plummeting 18.2% to $9.69 Thursday after missing analysts' expectations for revenue in the fourth quarter.

Revenue fell 7.5% from the year-ago period to $146 million for the quarter, missing the Capital IQ Consensus of $148.1 million. Swift Energy posted earnings of 13 cents a share for the quarter, which is in-line with analysts' expectations.

Swift Energy plans to balance capital expenditures in 2014 with its operating cash flow, available bank line, and proceeds from asset sales and joint venture activity. The company's current plan budgets for $300 million to $350million in capital expenditures.

Looking to 2014, the company expects to produce between 11.3 million barrels of oil equivalent (MMBoe) and 11.8 MMBOE, compared to the 11.75 MMBoe produced in 2013.

Must read: PE Money Seeking Oil and Gas

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TheStreet Ratings team rates SWIFT ENERGY CO as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate SWIFT ENERGY CO (SFY) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including generally higher debt management risk and a generally disappointing performance in the stock itself."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

  • The revenue growth came in higher than the industry average of 3.3%. Since the same quarter one year prior, revenues rose by 21.2%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Oil, Gas & Consumable Fuels industry. The net income increased by 184.6% when compared to the same quarter one year prior, rising from $3.12 million to $8.89 million.
  • SWIFT ENERGY CO reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, SWIFT ENERGY CO reported lower earnings of $0.48 versus $1.94 in the prior year. This year, the market expects an improvement in earnings ($0.65 versus $0.48).
  • SFY has underperformed the S&P 500 Index, declining 15.28% from its price level of one year ago. Turning toward the future, the fact that the stock has come down in price over the past year should not necessarily be interpreted as a negative; it could be one of the factors that may help make the stock attractive down the road. Right now, however, we believe that it is too soon to buy.
  • The debt-to-equity ratio of 1.05 is relatively high when compared with the industry average, suggesting a need for better debt level management. Along with this, the company manages to maintain a quick ratio of 0.43, which clearly demonstrates the inability to cover short-term cash needs.
  • You can view the full analysis from the report here: SFY Ratings Report

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