Community Trust Bancorp Inc
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CTBI Community Trust Bancorp Inc
$NYLGCAPT NYSE U.S. Large Cap Equal Weight Ind
VIVC Vivic Corp
BAC Bank of America Corp
DGRW WisdomTree U.S. Quality Dividend Growth Fund
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Financials : Banks | Small Cap Blend
Company profile

Community Trust Bancorp, Inc. is a bank holding company. The Company holds interests in a commercial bank, Community Trust Bank, Inc. (the Bank), and a trust company, Community Trust and Investment Company. Through its subsidiaries, the Company engages in a range of commercial and personal banking, and trust and wealth management activities, which include accepting time and demand deposits; making secured and unsecured loans to corporations, individuals and others; providing cash management services to corporate and individual customers; issuing letters of credit; renting safe deposit boxes, and providing funds transfer services. Its loan portfolio includes commercial loans, such as construction loans, loans secured by real estate, equipment lease financing and commercial other loans; residential loans, such as real estate construction loans, real estate mortgages and home equity loans, and consumer loans, such as consumer direct loans and consumer indirect loans.

Closing Price
$31.57
Day's Change
0.00 (0.00%)
Bid
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Ask
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B/A Size
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Day's High
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Day's Low
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Volume
(Light)
Volume:
0

10-day average volume:
63,569
0

UPDATE: These U.S. oil companies are most at risk in the danger zone

9:35 am ET April 25, 2020 (MarketWatch)
Print

By Philip van Doorn, MarketWatch

Survival will be difficult on plunging oil prices and mounting debt

Updated with late Tuesday afternoon WTI prices for June and September delivery.

Oil producers seem to face black-swan events that can destroy demand or greatly increase supply at any time. So far this year the pain is only getting worse.

Below is a list of U.S. oil producers and oilfield servicers with the highest leverage that are low on cash. Some of them may not survive 2020.

U.S. oil producers are reeling from a vast reduction in demand from the coronavirus shutdown, but also from the decision by Saudi Arabia and Russia to increase output.

On Monday, the price of West Texas Intermediate crude oil for May delivery sank below zero (http://www.marketwatch.com/story/why-the-oil-market-just-crashed-below-0-a-barrel-4-things-investors-need-to-know-2020-04-20). However, that May contract expires Tuesday, April 21, which, as William Watts explained (http://www.marketwatch.com/story/us-oils-may-contract-skids-about-20-at-nadir-as-crudes-woes-continue-2020-04-19), led to "traders scrambling to exit long positions that would require them to take physical delivery of crude amid dwindling storage space."

WTI for June delivery fell 35% to $13.25 a barrel Tuesday, following an 18% decline Monday. Meanwhile, WTI for September delivery was down 17% to $24.64 on Tuesday, after falling 7% on Monday. Investors obviously expect oil demand to bounce back over the next five months.

That puts even more pressure on prices, as producers scramble to store as much oil as possible to sell later. Myra Saefong provided a full explanation of this "super contango (http://www.marketwatch.com/story/oil-market-in-super-contango-underlines-storage-fears-as-coronavirus-destroys-crude-demand-2020-04-17)."

Mitch Rubin, a managing director at RiverPark Advisors in New York, said during an interview on April 17 that he had "shorted" -- or betted against -- energy companies for a year and a half heading into the coronavirus crisis, because "when you own something and do not control the price of the product, you do not control your destiny." (He has since covered those short positions.)

At a time of plunging cash flow, highly indebted oil companies will do everything they can to shore up liquidity, lower production and cut any costs they can.

The S&P 500 energy sector has already dropped 43% this year through April 17. That is, by far, the worst performance among the S&P sectors, with the full S&P 500 Index declining 11%.

Despite that tremendous decline, nobody can say for sure when oil demand will recover sufficiently to take highly leveraged U.S. producers out of the danger zone.

To take a broad look at the energy sector, the following list is derived from the S&P 1500 Composite Index, which includes the S&P 500, the S&P 400 Mid Cap Index and the S&P Small Cap 600 Index . The S&P 1500 energy sector includes 82 companies. Here are the 30 with the highest ratios of net debt (total debt minus cash) to total capital:

Company Ticker Net debt/ equity Total return - 2020 through April 17 Industry

Tetra Technologies Inc. US:TTI 94.5% -87% Oilfield Services/Equipment

Equitrans Midstream Corp. US:ETRN 89.2% -42% Oil & Gas Pipelines

Apache Corp. US:APA 71.3% -67% Oil & Gas Production

Oneok Inc. US:OKE 67.1% -61% Oil & Gas Pipelines

Par Pacific Holdings Inc. US:PARR 66.9% -69% Oil Refining/Marketing

Core Laboratories NV US:CLB 66.2% -69% Oilfield Services/Equipment

Archrock Inc. US:AROC 63.0% -61% Oilfield Services/Equipment

Williams Companies Inc. US:WMB 61.9% -21% Oil & Gas Pipelines

Denbury Resources Inc. US:DNR 61.1% -87% Oil & Gas Production

Gulfport Energy Corp. US:GPOR 60.6% -76% Oil & Gas Production

Range Resources Corp. US:RRC 58.0% -4% Oil & Gas Production

Cnsol Energy Inc. US:CEIX 57.9% -64% Coal

U.S. Silica Holdings Inc. US:SLCA 57.8% -75% Other Metals/Minerals

Laredo Petroleum Inc. US:LPI 56.8% -85% Oil & Gas Production

Nabors Industries Ltd. US:NBR 54.6% -90% Contract Drilling

Exterran Corp. US:EXTN 52.1% -40% Oilfield Services/Equipment

Penn Virginia Corp. US:PVAC 51.0% -87% Oil & Gas Production

SM Energy Co. US:SM 50.2% -85% Oil & Gas Production

Callon Petroleum Co. US:CPE 50.1% -91% Oil & Gas Production

Noble Corp. PLC US:NE 50.0% -83% Contract Drilling

Occidental Petroleum Corp. US:OXY 49.2% -65% Oil & Gas Production

Kinder Morgan Inc. Class P US:KMI 49.1% -28% Oil & Gas Pipelines

Antero Midstream Corp. US:AM 47.9% -51% Oil & Gas Pipelines

Halliburton Co. US:HAL 47.3% -69% Oilfield Services/Equipment

Matador Resources Co. US:MTDR 45.9% -81% Oil & Gas Production

Marathon Petroleum Corp. US:MPC 45.8% -57% Oil Refining/Marketing

Noble Energy Inc. US:NBL 45.0% -72% Oil & Gas Production

Oasis Petroleum Inc. US:OAS 42.7% -92% Oil & Gas Production

Southwestern Energy Co. US:SWN 42.4% 10% Oil & Gas Production

CNX Resources Corp. US:CNX 41.2% 20% Integrated Oil

Source: FactSet

You can click on the tickers for more about each company.

You will need to scroll the table to see all of the data.

All of the net debt/capital ratios are as of Dec. 31. Companies that have taken significant measures to increase liquidity will have made announcements in the meantime, so it's important to do your own research if you are interested in any of the companies mentioned here. The situation for many will no doubt be quite different when the March 31 figures are reported.

Don't miss:'This is going to hurt' -- pain is on the way for the four big U.S. banks (http://www.marketwatch.com/story/this-is-going-to-hurt-pain-is-on-the-way-for-the-four-big-us-banks-2020-04-16)

-Philip van Doorn; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

April 25, 2020 09:35 ET (13:35 GMT)

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