Crude oil (WTI) is declining 0.56% to $39.24 per barrel and Brent crude is slipping 0.82% to $40.11 per barrel this afternoon, according to the CNBC.com index.
The price of the commodity is down as European markets remain closed for the Easter holiday today and other investors are slow to build up long positions following oil's price rally in the last two months, Reuters reports.
Additionally, there is growing speculation that a meeting among OPEC and non-OPEC members in Doha, Qatar next month won't help reduce the ongoing supply glut, Bloomberg noted.
"Oil remains oversupplied and a production freeze deal is not going to result in an acceleration of the global oil market returning back to a balanced position anytime soon," Dominick Chirichella, an analyst at the Energy Management Institute, wrote in a note cited by the Wall Street Journal.
Kinder Morgan is a Houston-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