On Monday, U.S Stock closed sharply lower, in response to the news that, concerns about Greece continued to weigh. The energy sector was the only sector closing higher on the S&P 500. Chevron and Caterpillar led four blue chip gainers, counting Exxon Mobil.
On the New York Mercantile Exchange, crude futures for February delivery below $46 a barrel for the first time since April 2009, ending down $2.29 at $46.07 a barrel; gold futures rose to $1,232.80 an ounce, the highest since Oct. 22.
Details about some major losers from Basic material sector, during Monday’s trade are described below:
SandRidge Energy, Inc. (NYSE:SD), traded in a 52-week range of $1.13 to $7.43, with shares dropped -10.50% at $1.96 in pre-market trade Tuesday, as an oil and natural gas Company headquartered in Oklahoma City, formerly declared the appointment of J. Mike Stice to the board of directors. Mr. Stice has over 30 years of experience in the oil and gas industry counting leadership roles at ConocoPhillips and most recently as the Chief Executive Officer of Access Midstream Partners, L.P. from July 2010 until its merger with Williams Partners L.P. in December 2014.
SandRidge Energy, Inc. (NYSE:SD)’s stock volatility for the week is 16.72%, while for the month, it is 11.60%.
SandRidge Energy, Inc. (NYSE:SD), is an oil and natural gas Company headquartered in Oklahoma City, Oklahoma with its principal focus on exploration and production. SandRidge and its auxiliaries also own and operate gas gathering and processing facilities, saltwater gathering and electrical infrastructure facilities and conduct marketing operations.
Comstock Resources Inc. (NYSE:CRK), declined -7.43% and settled at $5.48, soon after Comstock, stated financial and operating results for the quarter and year ended December 31, 2014. Comstock stated a loss from ongoing operations of $55.1 million or $1.19 per share for the three months ended December 31, 2014 as contrast to a loss from ongoing operations of $36.6 million or 80¢ per share for the three months ended December 31, 2013. The loss in the fourth quarter of 2014 was primarily attributable to certain unusual items, counting impairments of oil and gas properties and unevaluated leases and exploratory dry hole costs of $60.9 million ($39.5 million after tax or 85¢ per share), drilling rig termination fees of $6.7 million ($4.4 million after tax or 9¢ per share) and an unrealized loss from derivative financial instruments of $3.9 million ($2.5 million after tax or 6¢ per share). Results for the fourth quarter of 2013 comprised of a loss on early retirement of debt of $17.9 million ($11.6 million after tax or 25¢ per share), impairment of unevaluated leases of $18.1 million ($11.8 million after tax or 26¢ per share) and an unrealized gain from derivative financial instruments of $1.3 million ($0.8 million after tax or 2¢ per share). Not including these items, the net loss would have been $8.7 million (19¢ per share) in 2014`s fourth quarter and $14.0 million (31¢ per share) in 2013.
Comstock Resources Inc. (NYSE:CRK)’s stock volatility for the week is 12.26%, while for the month, it is 12.13%.
Comstock Resources Inc. (NYSE:CRK), an independent energy company, attains, develops, explores, and produces oil and natural gas properties in the United States. Its oil and gas operations are primarily located in East Texas/North Louisiana and South Texas. The company owns interests in about 1,535 producing oil and natural gas wells.
Geospace Technologies Corporation (NASDAQ:GEOS), dipped nearly -7.32% to $19.99, hitting new 52-week low of $19.52, as Geospace formerly declared a net loss of $5.4 million, or $0.41 per diluted share, on proceeds of $21.2 million for its fiscal quarter ended December 31, 2014. This compares with a net revenue of $24.2 million, or $1.85 per diluted share, on proceeds of $101.3 million for the preceding year.
Geospace Technologies Corporation (NASDAQ:GEOS)’s stock volatility for the week is 9.35%, while for the month, it is 6.94%.
Geospace Technologies Corporation (NASDAQ:GEOS), designs and manufactures instruments and equipment used by the oil and gas industry to attain seismic data in order to locate, characterize and monitor hydrocarbon producing reservoirs.
Parsley Energy, Inc. (NYSE:PE), showed a negative movement of -5.34% to end at $16.65, following the news that an independent oil and natural gas company, formerly declared that it has reached an contract to sell 14,885,797 shares of its Class A ordinary stock in a private placement, which is predictable to result in about $231 million of gross proceeds and $224 million of net proceeds (after deducting placement agent commissions and the Company’s estimated expenses). The shares were sold to selected institutional and accredited investors. The Company anticipates to use the net proceeds from the offering to repay borrowings under its revolving credit facility and for general corporate purposes. Credit Suisse acted as sole placement agent and Tudor, Pickering, Holt & Co. served as a financial advisor in connection with the offering.
Parsley Energy, Inc. (NYSE:PE)’s stock volatility for the week is 8.00%, while for the month, it is 7.90%.
Parsley Energy, Inc. (NYSE:PE), is an independent oil and natural gas company focused on the attainment, development, and exploitation of unconventional oil and natural gas reserves in the Permian Basin in West Texas.
Laredo Petroleum, Inc. (NYSE:LPI), traded in a 52-week range of $7.00 to $31.23, with shares dropped -1.43% at $13.14 in pre-market trade, as an independent energy company in the United States, formerly declared proved reserves (developed and undeveloped) and preliminary operating results for year-end 2014, preliminary results for its commodity derivatives for the fourth quarter of 2014 and basic and diluted weighted-average shares outstanding.
Laredo Petroleum, Inc. (NYSE:LPI)’s stock volatility for the week is 12.62%, while for the month, it is 10.53%.
Laredo Petroleum, Inc. (NYSE:LPI), operates as an independent energy company in the United States. It focuses on the exploration, development, and attainment of oil and natural gas properties primarily in the Permian region of west Texas.
