Stock price when the opinion was issued
Chart shows a channel formation in 2012 and 2013, followed by a severe drop in the last half of 2014. This is not a good sign. Feels that the sudden drop has taken the stock so far from the mean that it should rebound. If crude continues lower, there is no bottom in sight for the stock. If you are trading, and it makes a 52-week low, he would sell immediately.
This is a serial underperformer. Has been under performing the group significantly. If there is additional weakness in oil/gas, it is likely to break lows. Keep in mind that we are heading into October/November which is tax loss selling season.