Investing

Refiners Valero, PBF Lead Friday's 52-Week Low Club

Paul Ausick

July 8, 2016: Here are four stocks trading with relatively heavy volume among 12 equities making new 52-week lows in Friday’s session. NYSE advancers led decliners by nearly 9 to 1 while Nasdaq advancers led decliners by about 5 to 1.

Valero Energy Corp. (NYSE: VLO) dropped about 0.7% on Friday to post a new 52-week low of $46.88 against a 52-week high of $73.88. Shares closed at $47.24 last night. Volume is about 25% higher than the daily average of around 6 million. The oil refining company had no specific news, and shares are on track to close up about 1% this afternoon.

Melco Crown Entertainment Ltd. (NASDAQ: MPEL) dropped about 1% on Friday to post a new 52-week low of $11.97 against a 52-week high of $24.00. Volume was about 25% higher than the daily average of around 3 million. The stock closed at $12.09 on Thursday night. The casino operator had no specific news, but gaming revenues in Macau have fallen to a six-year low.

PBF Energy Inc. (NYSE: PBR) fell by about 4% on Friday to post a new 52-week low of $20.81 against a high of $41.75. The stock closed at $21.68 on Thursday night. Volume reached around 3.8 million shares, about 70% above the stock’s daily average of around 1.7 million. The oil refiner struggled early in the day, but like Valero is on course to finish with a gain.

Scorpio Tankers Inc. (NYSE: STNG) fell by about 0.7% on Friday to post a new 52-week low of $4.08 against a high of $11.64. The stock closed at $4.08 on Thursday night. Volume reached around 1.7 million shares, about a third lower than the stock’s daily average. Another crude oil tanker company that hit a new low but, this time, was pulled higher and appears to be headed to a gain of nearly 5% for the day’s session.