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Stock Investors Bid Up Shares of Plains Exploration & Production, Up 1.2%

Published on Wed, 03/06/2013 - 11:31
By Peter Chu

Plains Exploration & Production (NYSE:PXP), a company whose shares are moving quickly, is trading 1.2% higher to $45.76. The S&P is currently trading fractionally higher to 1,542 and the Dow Jones Industrial Average is trading 0.3% higher to 14,293.

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.

In the past 52 weeks, shares of Plains Exploration & Production have traded between a low of $30.12 and a high of $48.47 and are now at $45.76, which is 52% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.

There is potential upside of 10.1% for shares of Plains Exploration & Production based on a current price of $45.76 and an average consensus analyst price target of $50.36. The stock should hit resistance at its 50-day moving average (MA) of $46.98, as well as support at its 200-day MA of $40.14.

By Peter Chu
pchu@fnno.com

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