Williams Cos. (WMB) Stock Takes a Hit With Falling Oil Prices
NEW YORK (TheStreet) -- Williams Cos. (WMB) - Get Report shares are tumbling by 3.22% to $19.07 on Monday afternoon, as oil futures declined following the recent report from market intelligence firm Genscape.
U.S crude stockpiles at the Cushing, OK delivery point gained by 1.4 million barrels in the week ended May 6.
Crude oil (WTI) is down by 2.78% to $43.42 per barrel and Brent crude is sliding by 3.9% to $43.60 per barrel.
Earlier today, oil prices were up as wildfires in Canada resulted in the daily loss of over 1 million barrels a day in output, Reuters reports.
Based in Tulsa, OK, Williams Cos. operates as an energy infrastructure company primarily in the U.S.
Separately, TheStreet Ratings currently has a "Sell" Rating on the stock with a letter grade of D+.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
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 article's author.
You can view the full analysis from the report here: WMB
