Exxon Mobil, Newfield Exploration Drill into Wednesday’s 52-Week Low Club
March 7, 2018: Here are four stocks trading with heavy volume among 50 equities making new 52-week lows in Wednesday’s session. On the NYSE advancers led decliners by less than 8 to 7 and on the Nasdaq, advancers led decliners…
March 7, 2018: Here are four stocks trading with heavy volume among 50 equities making new 52-week lows in Wednesday’s session. On the NYSE advancers led decliners by less than 8 to 7 and on the Nasdaq, advancers led decliners by about 2 to 1.
Exxon Mobil Corp. (NYSE: XOM) dropped about 3.4% Wednesday to post a new 52-week low of $73.56. Shares closed at $76.18 on Tuesday and the stock’s 52-week high is $89.30. Volume topped 20 million, about 50% above the daily average. The company announced an aggressive growth plan this morning that investors are interpreting as a threat to buybacks and dividends.
VEON Ltd. (NASDAQ: VEON) fell about 5.6% Wednesday to post a new 52-week low of $2.70 after closing at $2.86 on Tuesday. The 52-week high is $4.47. Volume of nearly 5.8 million was about 20% above the daily average. The company acquired additional spectrum for its Ukraine business.
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Newfield Exploration Co. (NYSE: NFX) traded down about 2% Wednesday and posted a new 52-week low of $22.72 after closing Tuesday at $23.20. The stock’s 52-week high is $37.61. Volume was about 20% higher than the daily average of around 3.3 million shares. The company had no specific news.
Enbridge Inc. (NYSE: ENB) traded down about 1.8% Wednesday and posted a new 52-week low of $31.19 after closing Tuesday at $31.77. The stock’s 52-week high is $42.92. Volume was around 2.1 million, about 30% below the daily average of around 2.8 million. The company said this morning that its Spectra Energy Capital subsidiary had completed a debt exchange offer.
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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.
