December 22, 2015: Here are four stocks trading with heavy volume among 102 equities making new 52-week lows today.
Whiting Petroleum Corp. (NYSE: WLL) dropped about 2.3% on Tuesday to post a new 52-week low at $8.12 after closing at $8.31 on Monday. The stock’s 52-week high is $41.57. Share volume was about 40% higher than the daily average of around 10 million. The stock was downgraded this morning from Outperform to Market Perform at BMO Capital Markets and the price target was slashed from $27 to $13. The stock bounced back after a slow start Tuesday and is on track to close up more than 8% on the day
Continental Resources Inc. (NYSE: CLR) slipped 2% on Tuesday to post a new 52-week low of $19.60 against a high of $53.65. The stock closed at $20.00 on Monday night. Volume was more than double the daily average of around 5 million shares traded. Whiting and Continental are the two largest producers in the Bakken shale play, and both stocks dipped early today and rose later. Like Continental, shares are on track to close more than 8% higher today.
Macy’s Inc. (NYSE: M) dropped about 2.8% on Tuesday to post a new 52-week low of $34.05 against a 52-week high of $73.61. The stock closed at $35.02 on Monday night. Volume reached 10 million shares, about 20% above the daily average of around 8 million shares traded. The retailing giant had no specific news today, and shares reversed late in the morning to put the stock on track for a gain of more than 1% on the day.
Encana Corp. (NYSE: ECA) posted a new low on Tuesday. Shares dropped about 5.5% to a low of $4.65 from Monday’s closing price of $4.92. The stock’s 52-week high is $14.73. Volume was nearly equal to the daily average of around 12 million shares. A large put option purchase this morning may have weighed down shares.
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