Nexen Stock Falls On Unusually High Volume (NXY)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Nexen (NYSE: NXY) is trading at unusually high volume Friday with 17.8 million shares changing hands. It is currently at 2.4 times its average daily volume and trading down $3.07 (-12.2%) at $22.10 as of 3:30 p.m. ET.

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Nexen has a market cap of $12.99 billion and is part of the basic materials sector and energy industry. Shares are up 54.1% year to date as of the close of trading on Thursday.

Nexen Inc. operates as an independent energy company worldwide. The company's Conventional Oil and Gas segment explores for, develops, and produces crude oil and natural gas from conventional sources. The company has a P/E ratio of 34, above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Nexen as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. You can view the full Nexen Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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