Canadian Natural Resources Limited, HollyFrontier Corp, Cabot Oil & Gas Corp and others reached higher-than-usual trading volumes.
Today's session summary: Leading equity indices in the US declined as after dropping 2.25%, Dow Jones closed at 33,200. S&P 500 closed at 3,895.75, a 2.49% change.
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.
Though trading was down today, some energy stocks reached high volumes. Here is an update.
Canadian Natural Resources | 261% higher than rolling average Today's lacklustre sentiment ensured Canadian Natural Resources slid 1.71%
Trading volume peaked at 4.91 million shares today, thereby obliterating the daily average of 1.88 million by 261%. After ending yesterday at $55.36, Canadian Natural Resources declined to $53.24 today before closing at $54.41, thereby losing 1.71% in total.
HollyFrontier | 119% slightly above rolling average HollyFrontier posts record single day jump of 71 cents (+2%)
HollyFrontier outpaced its average daily trading volume (4 million) with 4.78 million shares traded today. HollyFrontier went up to $36.39 today after ending yesterday at $35.68. Overall, a 2% move or 71 cents.
9 months ago, the petroleum refineries company fell to a low of $29.34 but has since recovered 21.61%. So far in 2022, it has performed better than the S&P 500 by 27.65%. With an average daily volume of 4 million shares. HollyFrontier expected revenue of $4.12 billion with an EPS of 41.06 cents.
Cabot Oil & Gas Corp | 219% higher than rolling average Cabot Oil & Gas Corp maintains composure within $21.51 to $22.39 range
Today's trading volume peaked at 18.76 million shares, thereby blitzing the daily average of 8.56 million by 219%. Cabot Oil & Gas Corp closed a flat day of trading at $22.25 today after ending yesterday at $22.25.
Cabot Oil & Gas Corp has gained 10.04% over the past year, moving away from its yearly lows around $22.25. With an average daily trading volume of 8.56 million shares.
— Average trading volume refers to a 21-day rolling average.