Trade Flow Analysis for Nexen

Posted on 01/28/2013 by Allen Bersch

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NEW YORK (AVAFIN) -- Block trades serve as a useful indicator for investors trying to understand the sentiment of large financial institutions. Today, a total of 42 block trades were recorded, typically at least 10,000 shares of stock or more represent a single block unit. Further examination shows that the bought value of the shares was $17,474,875 versus the sold value of $33,504,299. The negative cash flow of $16,029,424 out of the stock shows that investors have bearish sentiment.

A deeper look into options trading also reveals that traders hedged their positions with options where 4,127 put and 11,216 call contracts exchanged hands leading to a 0.37 put/call ratio.

Nexen, based in Calgary, Alberta, engages in exploration and production of conventional offshore oil in the North Sea, Nigeria, and the Gulf of Mexico, mining and  in-situ bitumen production in Alberta, and natural gas exploration in British Columbia. At the end of 2010, the company reported proven reserves, before royalties, of 1,021 million barrels of oil equivalent. Daily production net of royalties averaged about 220,000 barrels of oil equivalent per day in 2010, at a ratio of 81% oil to 19% gas.

Nexen settled the day down $0.15 to $26.82 in the previous trading session. Today's trading range was between $26.80 and $26.97 respectively. On the volume side, 12M shares were traded, which is greater than the average volume of 9M shares. NXY is trading above the 50 day moving average and higher than the 200 day moving average. The stock's 52 week low is $14.63 and 52 week high is $27.06. Within the last quarter, the shares have gained 11.96% of their value. The stock has a P/E ratio of 37.20 and a dividend yield of 0.74%.

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