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Stock Market & Financial Investment News

News Breaks
February 22, 2013
06:25 EDTSFYSwift Energy downgraded to Hold from Buy at Brean Capital
Brean Murray downgrade Swift Energy citing disappointing guidance and lack of execution.
News For SFY From The Last 14 Days
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November 20, 2015
06:01 EDTSFYSwift Energy adopts right plan to protect net operating loss carryforwards
Swift Energy announced that its board has adopted a net operating loss rights plan in an effort to prevent the imposition of significant limitations under Section 382 of the Internal Revenue Code on its ability to utilize its current NOLs to reduce its future tax liabilities. Swift Energy estimates that its NOLs for federal tax purposes totals approximately $718M as of September 30, 2015, which can be used in certain circumstances to offset future taxable income and reduce federal income taxes. Swift Energy's ability to use these tax assets could be substantially limited if the Company experiences an "ownership change". In general, an ownership change occurs if there is a cumulative change in a company's ownership by "5% percent shareholders" that increases by more than 50 percentage points over the lowest percentage owned by such shareholders at any time during the prior three years on a rolling basis.

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