Warren Resources Beneish M-Score Historical Data
The historical data trend for Warren Resources's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Warren Resources Beneish M-Score Chart
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Warren Resources Annual Data
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Dec06 |
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Dec11 |
Dec12 |
Dec13 |
Dec14 |
Dec15 |
| Beneish M-Score |
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-2.77 |
-2.94 |
-2.81 |
-2.74 |
-16.10 |
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Warren Resources Quarterly Data
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Mar11 |
Jun11 |
Sep11 |
Dec11 |
Mar12 |
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Mar13 |
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Mar15 |
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Dec15 |
| Beneish M-Score |
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-2.74 |
-3.52 |
-4.85 |
-7.19 |
-16.10 |
Competitive Comparison of Warren Resources's Beneish M-Score
For the Oil & Gas E&P subindustry, Warren Resources's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Warren Resources's Beneish M-Score Distribution in the Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Warren Resources's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Warren Resources's Beneish M-Score falls into.
Warren Resources Beneish M-Score Calculation
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Warren Resources for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 0.8415 | + | 0.528 * 1.5462 | + | 0.404 * 2.9568 | + | 0.892 * 0.5863 | + | 0.115 * 0.0854 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.873 | + | 4.679 * -2.787253 | - | 0.327 * 3.7031 |
| = | -16.10 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
| DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
| = | (9.88 / 88.373) | / | (20.025 / 150.723) |
| = | 0.111799 | / | 0.13286 |
| | = | 0.8415 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
| GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
| = | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) |
| = | (102.365 / 150.723) | / | (38.817 / 88.373) |
| = | 0.67916 | / | 0.43924 |
| | = | 1.5462 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
| AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
| = | (1 - (54.612 + 164.233) / 234.462) | / | (1 - (27.12 + 773.118) / 818.68) |
| = | 0.066608 | / | 0.022527 |
| | = | 2.9568 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
| SGI | = | Sales_t | / | Sales_t-1 |
| = | Revenue_t | / | Revenue_t-1 |
| = | 88.373 | / | 150.723 |
| | = | 0.5863 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
| DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
| = | (56.489 / (56.489 + 773.118)) | / | (644.482 / (644.482 + 164.233)) |
| = | 0.068091 | / | 0.796921 |
| | = | 0.0854 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
| SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
| = | (19.409 / 88.373) | / | (17.674 / 150.723) |
| = | 0.219626 | / | 0.117261 |
| | = | 1.873 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
| LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
| = | ((0 + 519.704) / 234.462) | / | ((432.274 + 57.77) / 818.68) |
| = | 2.216581 | / | 0.598578 |
| | = | 3.7031 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
| TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (-619.962 - 29.911 | - | 3.632) | / | 234.462 |
| | = | -2.787253 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Warren Resources has a M-score of -16.10 suggests that the company is unlikely to be a manipulator.
Warren Resources (Warren Resources) Business Description
Traded in Other Exchanges
N/A
Address
Warren Resources Inc was incorporated on June 12, 1990 as a Delaware corporation. The Company is an independent energy company engaged in the exploration, development and production of domestic onshore crude oil and gas reserves. The Company primarily on the exploration and development of its waterflood oil recovery properties in the Wilmington field within the Los Angeles Basin of California, and its coalbed methane, or CBM, natural gas properties located in the Rocky Mountain region. As of December 31, 2013, the company owned natural gas and oil leasehold interests in approximately 123,943 gross (93,350 net) acres, approximately 80% of which are undeveloped. The Washakie Basin is located in the southeast portion of the Greater Green River Basin in southwestern Wyoming and represents its largest acreage position. As of December 31, 2013, the company owned 113,227 gross (87,683 net) acres prospective for CBM development in this area, of which 69,221 net acres were undeveloped. Warren owns certain deep rights below a portion of the Atlantic Rim CBM Project, which include an approximate 71,000 net acre position that is potentially prospective for hydrocarbon production from the Niobrara Shale and other deep formations. The Company sells its oil and natural gas production to various purchasers in the areas where the oil and natural gas is produced. Its drilling, completion, production, re-entry and land operations are conducted, managed and supervised for the company through Warren E&P, Inc., its wholly owned subsidiary. The Companys operations are subject to a wide variety of stringent federal, state and local laws and regulations governing the exploration and production of oil and natural gas, including discharge of materials into the environment or otherwise relating to environmental protection.
Executives
| Tony Coelho |
director |
C/O PINNACLE GLOBAL GROUP, 5599 SAN FELIPE #1212, HOUSTON TX 77056 |
| James A Watt |
officer: President & C.E.O. |
410 17TH STREET, SUITE 1400, DENVER CO 80202 |
| Marcus C Rowland |
director |
920 MEMORIAL CITY WAY, SUITE 850, HOUSTON TX 77024 |
| James M Mcconnell |
director |
C/O ESCO TECHNOLOGIES INC., 9900 A CLAYTON ROAD, ST. LOUIS MO 63124 |
| Anthony L Coelho |
director |
5210 E. WILLIAMS CIRCLE, SUITE 750, TUCSON AZ 85711 |
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