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Shares of Plains Exploration & Production Rise to a New 52-Week High

Published on Wed, 02/06/2013 - 15:13
By Adrienne Chilton

Plains Exploration & Production (NYSE:PXP) traded today at a new 52-week high of $48.35. So far today approximately 357,000 shares have been exchanged, as compared to an average 30-day volume of 2.2 million shares.

In the past 52 weeks, shares of Plains Exploration & Production have traded between a low of $30.12 and a high of $48.35 and are now at $48.33, which is 60% above that low price. The 200-day and 50-day moving averages have moved 0.28% higher and 1.76% higher over the past week, respectively.

Plains Exploration & Production (NYSE:PXP) has potential upside of 3.3% based on a current price of $48.33 and analysts' consensus price target of $49.91. The stock should discover initial support at its 50-day moving average (MA) of $44.85 and subsequent support at its 200-day MA of $39.50.

Plains Exploration & Production Company is an independent oil and gas company with onshore and offshore operations in California, West Texas, East Texas and the Gulf Coast region. The Company is primarily involved in the upstream activities of acquiring, exploiting, developing, and producing oil and gas.

By Adrienne Chilton
achilton@fnno.com