Rite Aid, Whiting Petroleum Sink into Friday’s 52-Week Low Club
Rite Aid, Ensco, Weatherford International, and Whiting Petroleum all posted new 52-week lows on Friday.
July 7, 2017: Here are four stocks trading with heavy volume among 126 equities making new 52-week lows in Friday’s session. On the NYSE, advancers led decliners by about 2 to 1 and on the Nasdaq, advancers led decliners by more than 2 to 1.
Rite Aid Corp. (NYSE: RAD) dropped about 2.5% Friday to post a new 52-week low of $2.30 after closing Thursday at $2.36. The 52-week high is $8.77. Volume was around 44 million shares traded, about 40% above the daily volume of nearly 30 million. The company had no specific news Friday.
Ensco plc (NYSE: ESV) dropped about 5.7% Friday to post a new 52-week low of $4.76 after closing at $5.05 on Thursday. The stock’s 52-week high is $12.04. Volume of nearly 17 million was around 15% above the daily average of nearly 15 million. The company had no specific news but lower crude oil prices are never good news for the smaller oilfield services firms.
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Weatherford International plc (NYSE: WFT) dropped about 5.6% Friday to post a new 52-week low of $3.39 after closing at $3.59 on Thursday. Volume was about 23.4 million, around 5% less than the daily average of nearly 24 million shares. Another oilfield services company getting gored by falling oil prices.
Whiting Petroleum Corp. (NYSE: WLL) posted a new 52-week low of $4.81 on Friday, down about 7.5% compared with Thursday’s closing price of $5.20. The stock’s 52-week high is $13.39. Volume totaled around 21 million shares, about 5% higher than the daily average. The company had no specific news.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
