Why These 5 Stocks Are Trending on Friday

In this article we take a look at five stocks that are trending on Friday. If you want to read our detailed analysis of these stocks, go to read Why These 10 Stocks Are Trending on Friday.

5. NIKE, Inc. (NYSE:NKE) has risen over 2% after the company announced a 11% increase in its first quarter dividend. For the period, NIKE, Inc. (NYSE:NKE) will pay a quarterly cash dividend of 30.5 cents, up 3 cents from the prior dividend. Renaissance Technologies was long 3,583,700 shares of NIKE, Inc. (NYSE:NKE) at the end of September.

4. Exxon Mobil Corporation (NYSE:XOM) declined more than 4.3% on Friday after crude futures fell 2.9%. Crude futures have rallied substantially over the past year and there could be some profit taking involved. Despite today’s decline, Exxon Mobil Corporation (NYSE:XOM) is still up 46% year to date. GQG Partners owned 26,589,951 shares of Exxon Mobil Corporation (NYSE:XOM) at the end of Q3.

3. Chevron Corporation (NYSE:CVX) has fallen over 2% also due to crude futures declining 2.9%. Given Chevron Corporation (NYSE:CVX) depends on oil for a substantial part of its sales, lower oil prices could mean less profits. Shares of Chevron Corporation (NYSE:CVX) are still up 32% year to date. Diamond Hill Capital owned 5,163,512 shares of Chevron Corporation (NYSE:CVX) at the end of September.

2. Baker Hughes Company (NYSE:BKR) is down around 5% given the lower energy prices. If oil prices are lower, demand for oil service companies like Baker Hughes Company (NYSE:BKR) might not be as strong as before. Millennium Management was long 2,892,378 shares of Baker Hughes Company (NYSE:BKR) at the end of Q3.

1. Schlumberger Limited (NYSE:SLB) has fallen 6% also due to the decline in oil prices today. With lower Brent prices, demand for Schlumberger Limited (NYSE:SLB)’s services internationally might not be as strong. Fisher Asset Management was among the elite fund holders of Schlumberger Limited (NYSE:SLB) at the end of Q3.

Disclosure: None.