Investing
Southwestern Energy, SeaDrill Dive into Thursday's 52-Week Low Club
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May 25, 2017: Here are four stocks trading with relatively heavy volume among 110 equities making new 52-week lows in Thursday’s session. On the NYSE, advancers led decliners by about 8 to 7 and on the Nasdaq advancers led decliners by less than 4 to 3.
Southwestern Energy Co. (NYSE: SWN) dropped about 4.9% Thursday to post a new 52-week low of $6.43 after closing Wednesday at $6.76. The 52-week high is $15.59. Volume of around 21 million shares was roughly equal to the daily average. The company had no specific news, but the near 5% drop in crude oil prices today did not help the stock.
SeaDrill Ltd. (NYSE: SDRL) dropped nearly 16% Thursday to post a new 52-week low of $0.51 after closing at $0.59 on Wednesday. The stock’s 52-week high is $4.59. Volume was nearly 20% above the daily average of around 8.4 million shares. The company reported better-than-expected profits this morning but revenues lagged.
Schlumberger Ltd. (NYSE: SLB) dropped about 3.4% Thursday to post a new 52-week low of $68.94 after closing at $71.36 on Wednesday. The stock’s 52-week high is $87.84. Volume of about 10 million was about 35% above the daily average of around 7.6 million shares traded. The company had no specific news. But notice the pattern of oilfield services and low crude oil prices.
Denbury Resources Inc. (NYSE: DNR) posted a new 52-week low of $1.68 on Thursday, down about 9.7% compared with Wednesday’s closing price of $1.86. The stock’s 52-week high is $4.74. Volume totaled about 6.2 million shares, around 10% above the daily average of about 5.7 million. The company had no news but was hurt by the drop in crude prices.
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