Denbury Resources Inc. (NYSE: DNR) dropped about 13% today to post a new 52-week low of $9.73. The stock’s 52-week high is $18.59. Volume is more than 3-times the daily average of around 6.3 million shares. The oil and gas producer said on Friday that it will cut its 2015 capital spending in half and expects flat production next year. There will be more similar reports from the industry as we get closer to a new year.
Petroleo Brasileiro SA (NYSE: PBR) dropped about 6.7% on Monday to post a new 52-week low of $9.28 after closing at $9.95 on Friday evening. The stock’s 52-week high is $20.94. Share volume is approaching the daily average of around 45.7 million shares traded. Petrobras said Friday morning that it will not file its quarterly earnings statement on time and that it will delay filing its quarterly report indefinitely. On Monday the company said it would not meet 2014 production targets.
SM Energy Co. (NYSE: SM) posted a new 52-week low on Monday of $49.85. Based on Friday night’s closing price of $52.11 that’s a drop of about 4.3%. The stock’s 52-week high is $94.00. Trading volume is about 30% below the daily average of around 1.3 million shares. The company today closed a $600 million offering of senior unsecured notes at a coupon of 6.125%.
Vivus Inc. (NASDAQ: VVUS) posted a drop of about 4.6% today to post a new 52-week low of $3.10 against a 52-week high of $10.29. Volume is about 15% below the daily average of around 2.3 million shares. The company had no specific news today.
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