Ensco plc (NYSE: ESV) dropped about 2.3% on Thursday to a new 52-week low of $47.43. Share volume is about 40% above the daily average of around 2.6 million. The stock’s 52-week high is $62.25. Ensco’s presentation at an energy conference on Wednesday that was mixed at best. The company assured investors that the $3.00 annual dividend (5.9% dividend yield) would not be altered, but there must have been some skeptics in the crowd.
Key Energy Services (NYSE: KEG) dropped about 3.8% today to post a new 52-week low of $5.76 compared with the stock’s 52-week high of $10.52. Another energy company, this one focused on onshore drilling, has been weakened by poor earnings and the shareholder lawsuits just keep piling up. Shares are down about 23% in the year to date. Trading volume was about 40% below the daily average of around 2.5 million shares.
Oceaneering International Inc. (NYSE: OII) dropped about 4.7% today to post a new 52-week low of $65.60. Share volume was about double the average daily volume of around 1 million shares and the 52-week high is $87.64. The company makes and sells remotely operated vehicles (ROVs) for the deepwater energy drillers. Oceaneering also participated in the same conference as Ensco and like its U.K.-based peer couldn’t tell the analysts and investors what they wanted to hear.
SandRidge Energy Inc. (NYSE: SD) dropped about 4.6% today to post a new 52-week low of $4.94. Volume is nearly 60% higher than the daily average of around 8.4 million shares. The independent oil and gas company had no news today. The stock’s 52-week high is $7.43.
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