Today’s Research Reports on Trending Tickers: Gulfport Energy and Newfield Exploration
U.S. markets fell Tuesday on slumping commodity prices, with U.S. crude oil posting its largest one day drop in over a month. The Dow Jones Industrial Average declined 0.13 percent to close at 23,409.47, while the S&P 500 Index fell 0.23 percent to close at 2,578.87. The Nasdaq Composite Index dropped 0.29 percent to close at 6,737.87. On Tuesday, the International Energy Agency said the recent rally in crude oil prices could be short-lived and global demand will be weaker-than-expected for the rest of the year and next.
“Since Friday, the theme has been deleveraging and taking risk off the table,” said Larry Peruzzi, managing director of international equity trading at Mischler Financial, according to The Wall Street Journal. “Part of it has been profit-taking and part of it has been uncertainty with taxes and Washington.”
RDI Initiates Coverage on:
Gulfport Energy Corporation
Newfield Exploration Company
Gulfport Energy Corporation’s stock moved 7.98% lower Tuesday, to close the day at $12.68. The stock recorded a trading volume of 5,675,765 shares, which was above its three months average volume of 3,258,318 shares. In the last year Gulfport Energy Corporation’s shares have traded in a range of 10.90 – 29.92. The share price has gained 16.33% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $14.10 is greater than its 200-day moving average of $13.80. Shares of Gulfport Energy have fallen roughly 12.43 percent in the past month and are down 41.4 percent year-to-date.
Access RDI’s Gulfport Energy Corporation Research Report at:
On Tuesday, shares in Newfield Exploration Company recorded a trading volume of 4,928,662 shares, which was above the three months average volume of 2,849,109 shares. The stock ended the day 7.07% lower at 29.82. The share price has gained 22.16% from its 52 week low with a 52 week trading range of 24.41 – 50.00.The company’s shares are currently trading above their 200-day moving average. The stock’s 50-day moving average of $30.34 is greater than its 200-day moving average of $29.23. Shares of the company are trading at a Price to Earnings ratio of 19.34. Shares of Newfield Exploration have gained roughly 0.57 percent in the past month and are down 26.37 percent year-to-date.
Access RDI’s Newfield Exploration Company Research Report at:
Our Actionable Research on Gulfport Energy Corporation (NASDAQ:GPOR) and Newfield Exploration Company (NYSE:NFX) can be downloaded free of charge at Research Driven Investing.
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