Investing

These 4 S&P 500 Stocks Have Lost 50% in 2020

Norwegian’s stock has traded between $25.50 and $27.50 in the past week and it has a 52-week range of $7.03 to $59.68. The $22.31 consensus price target indicates that investors’ hopes may have outrun reality.

TechnipFMC PLC (NYSE: FTI) provides both offshore and land-based services to oil and gas producers. The stock has dropped about 54% since January. Two other services firms (National Oilwell Varco and Schlumberger) have lost more than 43% each for 2020 to date and join Technip among the 10 biggest losers of the year so far.

Technip shares have been trading around $10, in a 52-week range of $4.49 to $21.84. With a price target of $11.35, the recent share price implies a potential upside of around 14%. Technip pays a dividend yield of 1.31%.

Occidental Petroleum Corp. (NYSE: OXY) is the worst-performing independent oil and gas exploration and production company for the year to date. Oxy’s shares have dropped nearly 53% so far this year. In May of last year, Oxy acquired peer Anadarko for $38 billion, and the stock’s share price has been sliding ever since. Faltering demand for oil as a result of the COVID-19 pandemic made the decline worse, and the stock price has more than doubled since late October as investors expect the pandemic’s spread to slow now that vaccines are becoming available.

Oxy recently has traded around $19.50 a share, compared with a consensus price target of $15.75. The stock’s 52-week range is $8.52 to $47.58, and Oxy’s dividend yield is 0.21%.

HollyFrontier Corp. (NYSE: HFC) is an independent refining and marketing company with the capacity to refine nearly 500,000 barrels of oil a day at its five refineries. Year to date, the shares are down 50%, and that includes a gain of nearly 15% so far in the fourth quarter. While low crude prices typically mean higher refining margins, that’s only true if demand doesn’t crater at the same time. HollyFrontier’s gross margin is 17.4%, but both operating and profit margins are negative.

HollyFrontier has been trading right around $26 a share, in a 52-week range of $16.81 to $51.97. The consensus price target on the stock is $29.60, implying a potential upside of around 14%. The refiner also pays a dividend yield of 5.3%.

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