Investing
Southwestern Energy, Ensco Dip into Wednesday's 52-Week Low Club
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May 31, 2017: Here are four stocks trading with heavy volume among 207 equities making new 52-week lows in Wednesday’s session. On both the NYSE and the Nasdaq, decliners and advancers closed about dead even.
Ensco plc (NYSE: ESV) dropped 8.2% Wednesday to post a new 52-week low of $5.84 after closing at $6.36 on Tuesday. The stock’s 52-week high is $12.04. Volume was nearly 3 times the daily average of around 10.7 million shares. The company’s stock trades ex-dividend tomorrow, and investors are still smarting from the firm’s decision to merge with Atwood Oceanics.
Southwestern Energy Co. (NYSE: SWN) dropped about 5.4% Wednesday to post a new 52-week low of $6.01 after closing at $6.35 on Tuesday. The stock’s 52-week high is $15.59. Volume of about 20 million was about equal the daily average. The company had no specific news Wednesday.
Transocean Ltd. (NYSE: RIG) dropped about 6.3% Wednesday to post a new 52-week low of $8.68 after closing Tuesday at $9.26. The 52-week high is $6.96. Volume rose to about 50% more than the daily average of about 12 million shares. The company had no specific news, but consolidation in the offshore drilling business is not a positive for Transocean or any other driller still standing by itself.
Noble Corp. (NYSE: NE) posted a new 52-week low of $3.83 on Wednesday, down about 6.6% compared with Tuesday’s closing price of $4.10. The stock’s 52-week high is $9.73. Volume totaled about 14.7 million shares, about 10% higher than the daily average of about 13.8 million. The company had no news Wednesday.
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