The energy industry closed the day up 0.3%. WSP Holdings ( WH), GeoMet Inc ( GMET), Carbo Ceramics Inc ( CRR), and Blueknight Energy Partners G.P. L.L.C ( BKEP) were all decliners today within the energy industry with Geokinetics Inc ( GOK) being today's featured energy loser. Geokinetics Inc fell 10 cents (-3.9%) to $2.44 on light volume. Throughout the day, 84,929 shares of Geokinetics Inc exchanged hands as compared to its average daily volume of 128,600 shares. Geokinetics Inc., together with its subsidiaries, provides seismic data acquisition, and seismic data processing and interpretation services to the oil and natural gas industry. Geokinetics Inc has a market cap of $50.6 million and is part of the basic materials sector. Shares are down 70.1% year to date as of the close of trading on Wednesday. TheStreet Ratings rates Geokinetics as a sell. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally weak debt management, disappointing return on equity and poor profit margins.
The spread between Texas light sweet crude oil prices and Brent crude prices continued to widen Monday amid deepening concerns about slowing global demand. Analysts say there's a way to profit from all this.