Phillips 66 Partners LP, Ecopetrol S.A., Suncor Energy Inc. and others reached higher-than-usual trading volumes.
Here's an update with information from the last trading session: Markets did not have a clear cut direction — Dow Jones lost 0.56% and ended the session at 34,400. Nasdaq closed at 11,482 after a flat day.
Why trading volume matters?
Trading volume is simply the total number of shares traded including both buy and sell orders. If a stock has appreciated on high volume, it is more likely to be a sustained move compared to an appreciation with low volume. Typically, high volume trading sessions are considered significant occurrences and closely watched by traders.
While trading was mostly sideways yesterday, several energy stocks were actively traded. Here's an update:
Phillips 66 Partners | 221% higher than rolling average Phillips 66 Partners closes at $42 after gaining 1.89%
Yesterday's trading volume peaked at 16.20 million shares, thereby blitzing the daily average of 7.33 million by 221%. Phillips 66 Partners went up to $42 yesterday after ending Wednesday at $41.23. Overall, a 1.89% move or 77 cents.
Phillips 66 Partners has gained 23.15% over the past year, moving away from its yearly lows around $34.26. So far in 2022, it has performed better than the Nasdaq by 48.82%. With an average daily trading volume of 7.33 million shares. Phillips 66 Partners is forecasted to generate revenues of $436.47 million and EPS of 94.5 cents.
Ecopetrol | 282% above rolling average Ecopetrol dropped by 2.23% and closed the session at $9.65
Ecopetrol outpaced its average daily trading volume (2.40 million) with 6.77 million shares traded yesterday. After ending Wednesday at $9.87, Ecopetrol declined to $9.4 yesterday before closing at $9.65, thereby losing 2.23% in total.
The largest petroleum company in Colombia is now trading 49.77% below the significant high of $19.65 it set around 7 months ago. The Nasdaq has been doing worse in 2022, it has been passing it by 11.64%. Ecopetrol has a market cap of $19.84 billion with an average daily volume of 2.40 million shares. Ecopetrol has a forecast of $8.32 billion with an EPS of $1.36.
Ecopetrol | 282% above rolling average Ecopetrol dropped by 2.23% and closed the session at $9.65
Ecopetrol outpaced its average daily trading volume (2.40 million) with 6.77 million shares traded yesterday. After ending Wednesday at $9.87, Ecopetrol declined to $9.4 yesterday before closing at $9.65, thereby losing 2.23% in total.
The largest petroleum company in Colombia is now trading 49.77% below the significant high of $19.65 it set around 7 months ago. The Nasdaq has been doing worse in 2022, it has been passing it by 11.64%. Ecopetrol has a market cap of $19.84 billion with an average daily volume of 2.40 million shares. Ecopetrol has a forecast of $8.32 billion with an EPS of $1.36.
— Average trading volume refers to a 21-day rolling average.