Investing
Whiting Petroleum, Ensco Sink into Tuesday's 52-Week Low Club
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June 20, 2017: Here are four stocks trading with heavy volume among 135 equities making new 52-week lows in Tuesday’s session. On the NYSE, decliners led advancers by about 7 to 3 and on the Nasdaq, decliners led advancers by about 2 to 1.
All of Tuesday’s most heavily traded stocks that posted new lows were midsize oil shares. These are typically viewed as the most susceptible to sharp drops in crude prices. Crude set a new 52-week low below $43 a barrel earlier today before recovering to close at $43.23. Here’s how refineries are are affecting crude and retail gasoline prices.
Whiting Petroleum Corp. (NYSE: WLL) dropped nearly 10% Tuesday to post a new 52-week low of $5.30 after closing at $5.86 on Monday. The stock’s 52-week high is $13.39. Volume of nearly 25 million was about 30 % higher than the daily average. The company had no specific news.
Ensco plc (NYSE: ESV) dropped dropped about 7.4% Tuesday to post a new 52-week low of $5.28 after closing at $5.70 on Monday. Volume topped 15 million, about 25% higher than the daily average of around 12 million shares. The offshore drilling company had no specific news.
Marathon Oil Corp. (NYSE: MRO ) dropped more than 5% Tuesday to post a new 52-week low of $11.85 after closing Monday at $12.49. The 52-week high is $19.28. Volume was less than 10% higher than the daily average of about 13.5 million shares. The company had no specific news.
Cenovus Energy Inc. (NYSE: CVE) posted a new 52-week low of $6.87 on Tuesday, down nearly 12% compared with Monday’s closing price of $7.79. Volume totaled nearly 14 million shares, nearly triple the daily average of around 5.1 million. The company had no specific news.
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