The price of oil has been bumpy during the past few weeks, but has been basically stuck at around $60 per barrel. The oil-price rally has taken a breather, and it has taken the life out of many oil stocks. As a result, analysts and investors are growing more cautious. That caution is causing the stock prices of some oil stocks to take a hit.
According to S&P Capital IQ data, Magnum Hunter Resources Corp (NYSE: MHR), Penn Virginia Corporation (NYSE: PVA), and Bill Barrett Corporation (NYSE: BBG) were the hardest hit by the combination of stagnant oil prices and downgrades. To learn more about the news that drove these stocks, check out the slideshow below.
