Source: Thinkstock
SeaDrill Ltd. (NYSE: SDRL) dropped about 22.7% today to post a new 52-week low of $16.00. The stock’s 52-week high is $43.41. Volume is more than 8-times the daily average of around 8.6 million shares. The company reported weak results Wednesday morning and suspended its massive dividend. SeaDrill’s troubles spread gloom all through the offshore services companies.
Diamond Offshore Drilling Inc. (NYSE: DO) dropped about 11% on Wednesday to post a new 52-week low of $32.16 after closing at $36.16 on Tuesday evening. The stock’s 52-week high is $60.78. Share volume is about 50% above the roughly 2 million daily average shares traded. The offshore driller is among the casualties of SeaDrill’s announcement because it is one of the smaller and weaker of the services firms.
Halliburton Co. (NYSE: HAL) posted a drop of about 2.4% today to post a 52-week low of $47.12 against a high of $74.33. Volume is about 20% above the daily average of around 15 million shares. The oil field services giant has taken some lumps since announcing its planned acquisition of competitor Baker Hughes Inc. (NYSE: BHI).
Whiting Petroleum Corp. (NYSE: WLL) posted a new 52-week low on Wednesday of $52.80. Based on Tuesday night’s closing price of $54.99 that’s a drop of about 4%. The stock’s 52-week high is $92.92. Trading volume is about 25% below the daily average of around 2.8 million shares. The exploration and production company had no specific news today.
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