Energy sector Turns Red, Noble Energy Inc. (NYSE:NBL) Hits Deal for LPG Production
Energy sector components plunged in bearish zone on Monday following spending much of the day in bullish territory, as oil major Chevron Corp. losses hammered the sector.
Among major stocks, McMoRan Exploration Co. (NYSE:MMR) jumped up as the firm stated that flow to its Davy Jones well in the low water of the Gulf of Mexico was supposed to be controlled by skin or formation damage. It has witnessed restricted success from its attempts to repair the issue.
Mcmoran Exploration Co (NYSE:MMR) gained 2.23% with the closing price of $8.72. The overall volume in the last trading session was 6.70 million shares. Its fifty two week range was $7.25-$16.57. The total market capitalization remained $1.41 billion.
MMR is ahead of its 52 week low with 20.28% and its last month’s price volatility remained 7.19%. Its beta coefficient was 1.38 with a target price of $15.33. Company’s current year earnings per share grew with 84.79%.
On the deals front, Noble Energy Inc. (NYSE:NBL) hit a new deal with Australia’s Woodside Petroleum Ltd. to create liquid-natural-gas (LNG) production from the Leviathan zone in the Mediterranean Sea.
In last trading session, Noble Energy, Inc.(NYSE:NBL) fell -1.51% and closed at $96.27 with the total traded volume of 1.36 million shares. It has outstanding shares of 177.89million with the total market capitalization of $17.13 billion and its beta value stands at 1.00 times. CAH has current ratio of 1.21.
Shares of Cabot Oil & Gas Corporation(NYSE:COG) moved up +2.12% and closed at $48.10 with the total traded volume of 2.24 million shares. Stock opened at $47.62 and its shares were trading within the range of $47.37-$48.65. COG has earnings per share of $0.56 and its price to earnings ratio ended at 86.60.
SandRidge Energy Inc. (NYSE:SD)with a 3.93% gain to $6.08 in the latest trading session has changed its distance from 200-Day Moving Average to -11.83% and 50-Day Moving Average to -6.28%. It captures $2.98 billion in market value. The mean rating 2.50 is set by analysts. The average EPS forecast of 20 analysts surveyed by Reuters for the full-year Dec-12 is $0.16, same as was earned a year ago.
SandRidge Energy Inc. (SD) shares were trading positively in the middle of putsch by activist stockholder TPG-Axon Partners LP, which possesses 6.5% of the energy producer.
Alcoa Inc. (NYSE:AA)’s shares touched a high of $8.45 before closing at $8.41, experience no change. The trading volume was 13.65 million shares. Since hitting a 52-week low of $7.97 on Jul 25, 2012, the stock has managed to stay 6.32% higher from that level. The stock has a market value is $8.98B.