Due to the holiday, there wasn't a lot of news-driven stock moves this week. That said, several energy stocks still made large double-digit moves according toS&P Capital IQdata. Three of the biggest moves were made byBonanza Creek Energy , CARBO Ceramics , and EXCO Resources .
To be honest, Bonanza Creek Energy's big move this week was a bit of a head scratcher. Oil prices barely budged this week, with oil down a mere 0.6%, so clearly its double-digit move wasn't oil fueled. More than likely, Bonanza Creek's big move had to do with short-covering, given the out-sized portion of its float that's sold short.
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Meanwhile, CARBO Ceramics' big move this week was also not due to any company-specific news. Instead, the best guess is that CARBO's stock was fueled by an analyst upgrade to one of its peers.
Finally, EXCO Resources actually had a news-driven catalyst fueling its stock price rise this week. That news was the company's announcement of its 2016 capital expenditure program, which represents a significant reduction from spending in 2015. The troubled shale driller is clearly being disciplined with EXCO's sole focus being on drilling high return wells given the commodity price weakness.
To learn even more about why these stocks moved so sharply this week, check out the following slideshow.
The article Why Bonanza Creek Energy, CARBO Ceramics, and EXCO Resources All Popped This Week originally appeared on Fool.com.
Matt DiLallo has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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