Southwestern Energy (SWN) and Apache (APA) At New 52-Week Highs on Rising Oil

The price of a barrel of crude oil is on the rise again today: crude oil is up just a little more than $2 and is at about $98.55 a barrel. Energy stocks are once again outperforming the broader markets, as they did throughout much of 2007, and, at noon, energy is the only sector that is still trading up for the day. Shares of companies in the oil & gas operations sub-sector, more specifically, are doing unusually well this morning.

Shares of Southwestern Energy Company (NYSE: SWN) have hit a new 52-week high today at $57.93. The stock is up about $1.70, or about 3%, on heavy volume (usually trades about 1.6 million times a day, but today has already been traded about 2.2 million times.) Southwestern Energy was under $35 at the beginning of 2007, rising about 60% throughout the year to its current level.

Elsewhere in the industry, Apache Corp. (NYSE: APA) is up almost $3, or about 2.7%, to a new 52-week high of $111.78. Shares of Apache have risen almost 65% from the first trading day of 2007 and appear to be trending higher.

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