Investing
Chesapeake Energy, Encana Tumble into Tuesday's 52-Week Low Club
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December 18, 2018: Here are four stocks trading with heavy volume among 827 equities making new 52-week lows Tuesday. On the NYSE, decliners led advancers by about 1.25 to 1 and decliners led advancers on the Nasdaq by about 1.38 to 1.
The three major indexes are on track close the day not far from the break-even line. Crude oil traded down a whopping 7.3% on the day to settle at $46.24 a barrel. Gold settled up a mere 0.1% at $1,253.60.
Chesapeake Energy Corp. (NYSE: CHK) dropped about 6.7% Tuesday to set a new 52-week low of $2.10. Shares closed at $2.25 on Monday and the stock’s 52-week high is $5.60. Volume was about 25% higher than the daily average of around 32.8 million. The company had no specific news..
Weatherford International plc (NYSE: WFT) traded flat to match a 52-week low of $0.38 Tuesday after closing at $0.38 on Monday. The stock’s 52-week high is $4.41. Volume was roughly equal to the daily average of around 24.7 million. The oilfield services company sold its well-logging business yesterday.
Ensco plc (NYSE: ESV) traded down about 9.4% Tuesday and posted a new 52-week low of $3.57 after closing Monday at $3.94. The stock’s 52-week high is $9.51. Volume was about 60% higher than the daily average of around 13.8 million. Another oilfield services firm getting hammered by falling crude oil prices and investor wariness over exploration and production spending for next year.
Encana Corp. (NYSE: ECA) traded down about 2.8% to post a new 52-week low of $5.57 Tuesday after closing at $5.73 on Monday. The stock’s 52-week high is $14.31 and volume was nearly 30% lower than the daily average of around 21.7 million. The Calgary-based energy company had no specific news.
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