Oil Names On The Move (NE, APC, BP, RIG, USO)

Investors looking for bargains should take a look at some of the oil related stocks moving higher today. For example, deepwater driller Noble Corporation (NYSE: NE) has jumped 4.56% to $32.32. The company recently announced its acquisition of Frontier Drilling, a development that investors seem to be reacting to positively. Noble (NE) has climbed nearly 20% in the last month. Shares of beaten down Anadarko Petroleum (NYSE: APC) have gained 2.85% to $37.12. Anadarko (APC), who owns a stake in the Macondo well which is gushing oil in the Gulf of Mexico, has lost over 40% in the last 6 months. BP (NYSE: BP) is also moving higher today. The shares have added 1.18% to $29.22. Over the last 5 trading days, BP is in positive territory, although not by much. For investors who are willing to take on a ton of risk, BP, for the first time, might be an interesting stock to look into. Transocean (NYSE: RIG), the company who leased the Deepwater Horizon rig to BP, has surged 5.63% to $48.94. Over the last six months, RIG has shed over 40%. Interestingly, these oil names are having very good days despite the fact that crude oil fell sharply during Thursday's session. NYMEX futures fell almost 4% to $72.68. The United States Oil Fund ETF (NYSE: USO) has plunged 3.53% to $32.76. Learn how to find the best stocks to trade each day in our 70 page E-Book and 90 minute online video for free.