February 19 2016: Here are four stocks trading with heavy volume among 66 equities making new 52-week lows today.
Devon Energy Corp. (NYSE: DVN) dropped by about 8.3% on Friday to post a new 52-week low at $18.07 after closing at $19.70 on Thursday. The stock’s 52-week high is $70.48. Share volume totaled nearly 3 times the daily average of around 10 million shares traded. In the past week, the independent oil & gas producer cut its dividend by 75%, slashed its capex budget by the same amount, and issued 69 million new shares. Shareholders don’t like any one of these things, but all three essentially at once is too much.
Marathon Oil Corp. (NYSE: MRO) posted a new 52-week low on Friday. Shares traded at a low of $6.52, down about 6%, after closing at $6.93 on Thursday. The stock’s 52-week high is $31.53. Volume totaled about 35% more than the daily average of around 21 million shares. Another oil company that reported fourth-quarter results that were awful, then cut its capex budget by more than half in an effort to stay in the game.
Trinity Industries Inc. (NYSE: TRN) fell by more than 25% on Friday to post a new 52-week low of $15.70 against a high of $37.15. The stock closed at $21.12 on Thursday night. Volume rose to more than 21 million, roughly 10 times the daily average of about 1.9 million shares traded. The railcar builder posted record results after markets closed on Thursday, but its outlook was less encouraging.
24/7 Wall St.Laredo Petroleum Inc. (NYSE: LPI) dropped about 17.5% on Friday to post a new 52-week low of $3.91 against a 52-week high of $16.18. The stock closed at $4.74 on Thursday night. Volume was nearly double the stock’s daily average volume of around 3.5 million. The oil and gas producer had no specific news today, but sliding crude oil prices are never good news for these smaller companies.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
