Oil prices continue to trade in the red, but not by as much as earlier in the day.
Crude oil (WTI) is down by 0.78% to $39.48 per barrel and Brent crude is lower by 0.05% to $40.45 per barrel this afternoon, according to the CNBC.com index.
The total number of U.S. rigs fell by 15 to 372 this week, the lowest rig count for oil since November 2009, Reuters reports. The decline in rig count offset some of the headwinds for oil prices, brokers and analysts noted.
"After last week's increase of one rig, some may have assumed that the continuing decrease in rig counts was finally abating," Pete Donovan, broker at Liquidity Futures, told Reuters, "Apparently not so."
Kinder Morgan is a Houston, TX-based energy and energy infrastructure company in North America.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D+ on the stock.
This is driven by several weaknesses, which should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks covered.
The company's weaknesses can be seen in multiple areas, such as its generally disappointing historical performance in the stock itself, deteriorating net income, generally high debt management risk, disappointing return on equity and feeble growth in its earnings per share.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: KMI