Weatherford, Nabors Slide into Monday's 52-Week Low Club
December 3, 2018: Here are four stocks trading with heavy volume among 110 equities making new 52-week lows on Monday. On the NYSE, advancers led decliners by about 2.78 to 1 and advancers also led decliners on the Nasdaq by about 1.78 to 1.
All three major indexes are on track to post gains of about 1%. Crude oil traded up about 4% on the day to settle at $52.95 a barrel. Gold settled up 1.1% at $1,239.60, its highest settlement price in a month.
Weatherford International plc (NYSE: WFT) dropped about 3.5% Monday to set a new 52-week low of just over $0.55. Shares closed at $0.57 on Friday and the stock’s 52-week high is $4.41. Volume was about 25% higher than the daily average of around 23.6 million. The oilfield services company said today it completed the sale of its operations in Algeria, Kuwait, and Saudi Arabia.
Nabors Industries Ltd. (NYSE: NBR) traded down about 2.2% Monday and posted a new 52-week low of $3.16 after closing Friday at $3.23. The stock’s 52-week high is $8.87. Volume was about equal to the daily average of around 13.9 million. The company had no specific news.
BGC Partners Inc. (NASDAQ: BGCP) traded down about 4% at $6.51 Monday after closing at $6.78 on Friday. The stock’s 52-week high is $16.97. Volume was three times the daily average of around 2 million. The company completed a spin-off of its Newmark Group shares by distributing the shares to its stockholders.
Superior Energy Services Inc. (NYSE: SPN) traded down about 6.8% at $5.28 Monday after closing at $5.45 on Friday. The stock’s 52-week high is $12.73 and volume was about 40% higher than the daily average of around 3.8 million. The oilfield services company had no specific news.