Apache Corp. (NYSE: APA) dropped about 6.4% Monday to post a new 52-week low of $57.70. The stock’s 52-week high is $104.57. Volume is 25% higher than the daily average of around 4 million shares. It would be hard to find an independent oil & gas company that did not see the share price drop today. WTI for January delivery dropped below $63 this afternoon.
Halliburton Co. (NYSE: HAL) posted a drop of about 4.9% today to establish a new 52-week low of $38.38 against a high of $74.33. Volume is about 50% above the daily average of around 18 million shares. Falling crude oil prices not only hurt E&P companies but the services firms are also taking a beating.
Petroleo Brasileiro SA (NYSE: PBR), better known as Petrobras, dropped about 7.4% on Monday to post a new 52-week low of $8.17 after closing at $8.82 on Friday. The stock’s 52-week high is $20.94. Share volume is less than half the 49 million daily average shares traded. On Friday the stock dropped nearly 3% on inflation news from Brazil. Today the stock is caught in the vortex of falling crude oil prices.
Vale SA (NYSE: VALE) posted a new 52-week low on Monday of $8.05. Based on Friday night’s closing price of $8.38 that’s a drop of about 3.9% following a drop of 1.5% on Friday and 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. Continued weakness in iron ore pricing shows no indication of changing.
ALSO READ: 9 Analyst Stock Picks Under $10 With Massive Upside Calls
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.