Why Peabody Energy, Baytex Energy, and Aegean Marine Petroleum All Made Massive

Moves This Week

It was an absolutely wild week in the market as the Dow plunged triple digits several days in a row. Meanwhile, crude oil remained very weak with its price touching $40 per barrel. This caused extreme volatility among energy stocks, with dozens down double digits for the week.

However, there were three energy stocks, in particular, which made huge double-digit moves not related to oil prices. These big movers, according to S&P Capital IQ data, were Peabody Energy (NYSE: BTU), Baytex Energy

(NYSE: BTE), and Aegean Marine Petroleum (NYSE: ANW).

Here’s a look at the news that moved these stocks.

What:Marine fuel logistics company Aegean Marine Petroleum (NYSE: ANW) fell more

than 26% this week.

So What: Key driver: Second-

quarter results badly missed expectations

EPS of $0.15 per share missed estimates by $0.11 per share

Revenue of $1.2 billion was down 29.8% year over year

Now What: Company is facing stiff

headwinds from the energy market downturn

Key takeaway: Investors didn’t like the big earnings miss and voted by selling off shares

What:Canadian oil producer Baytex Energy’s (NYSE: BTE) stock plunged more than 32%

this week.

So What: Key driver: Decision to

suspend its dividend indefinitely

Company is also cutting 2016 capex by 25% leading to flat year-over-year production

Now What: As oil prices continue to

weaken, Baytex Energy is digging in for what looks to be a long downturn by reducing all unnecessary cash outflows

Key takeaway: Dividend investors didn’t like the move as they were relying on the company’s previously generous dividend

What:Coal producer Peabody Energy’s (NYSE: BTU) stock rocketed 60% higher this week.

So What: Key driver: Reports surfaced

that Peabody was looking to sell its Australian assets to raise cash

It was also revealed that well-known investor George Soros disclosed a small stake in the company

Now What: Asset sales could improve the

company’s balance sheet and renew its focus on its U.S. asset base

Meanwhile, Soros’ disclosure suggests he doesn’t expect Peabody to go bankrupt, which is a big vote of confidence

Key takeaway: With bankruptcy worries starting to abate, investors are piling in

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