Oasis Petroleum Inc. (NYSE: OAS) dropped about 7.4% Friday to post a new 52-week low of $13.90. The stock’s 52-week high is $58.09. Volume is more than double the daily average of around 3.7 million shares. The independent oil & gas producer is tracking the price of crude which has dropped another 1% or so today.
Petroleo Brasileiro SA (NYSE: PBR), better known as Petrobras, dropped about 2.7% on Friday to post a new 52-week low of $8.67 after closing at $8.91 on Thursday. The stock’s 52-week high is $20.94. Share volume is less than half the 49 million daily average shares traded. The stock is reacting to a report that Brazilian inflation is slowing, but remains above the 6.5% target.
Transocean Ltd. (NYSE: RIG) posted a drop of about 1.8% today to establish a new 52-week low of $18.46 against a high of $49.97. Volume is about 15% above the daily average of around 12 million shares. Falling crude oil prices indicate less need to drill for more oil and deepwater drillers like Transocean will be among the first to feel the pinch.
Vale SA (NYSE: VALE) posted a new 52-week low on Friday of $8.22. Based on Thursday night’s closing price of $8.35 that’s a drop of about 1.5 following a drop of 2.8% on Thursday and another annual low. The stock’s 52-week high is $15.59. Trading volume is about 40% below the daily average of around 28 million shares. The iron ore miner’s stock may be feeling some fallout from competitor Rio Tinto’s investor day presentation on Friday at which Rio’s CEO said the company would “materially increase shareholder returns” in February.
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