Phillips 66 Partners LP, HollyFrontier Corp, Valvoline Inc. had the highest volumes yesterday.
A quick recap of where the last trading session ended: Leading equity indices in the US declined as Nasdaq lost 1.54% and ended the session at 11,184. After dropping 0.83%, S&P 500 closed at 3,958.79.
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 yesterday, some energy stocks reached high volumes. Here is an update.
Phillips 66 Partners | 221% higher than rolling average Phillips 66 Partners gains 1.89% within $41.86 to $44.09 daily range
With 16.20 million shares traded yesterday, Phillips 66 Partners LP beat its daily average by 221% to cap off a frenetic trading day. Phillips 66 Partners went up to $42 yesterday after ending Tuesday at $41.23. Overall, a 1.89% move or 77 cents.
Having set a significant high of $46.14 11 months ago, Phillips 66 Partners is trading 20.34% lower. So far in 2022, it has been outperforming the Nasdaq by 51.82%. Phillips 66 Partners's market cap is currently $9.59 billion with an average daily volume of 7.33 million shares. Phillips 66 Partners is forecasted to generate revenues of $436.47 million and EPS of 94.5 cents.
HollyFrontier | 119% slightly greater than rolling average HollyFrontier on track to post record single day jump of 71 cents points (+2%)
HollyFrontier outpaced its average daily trading volume (4 million) with 4.78 million shares traded yesterday. HollyFrontier went up to $36.39 yesterday after ending Tuesday at $35.68. Overall, a 2% move or 71 cents.
Having set a significant high of $38.62 8 months ago, HollyFrontier is trading 21.61% lower. The S&P 500 has been doing worse in 2022, it has been passing it by 28.59%. The company has a market cap of $5.93 billion with an average daily trading volume of 4 million shares. HollyFrontier has a forecast of $4.12 billion with an EPS of 41.06 cents.
Valvoline | 139% above rolling average Risk-off sentiment pushes Valvoline to 4.18% loss yesterday
Valvoline outpaced its average daily trading volume (1.81 million) with 2.51 million shares traded yesterday. Valvoline shed 4.18%, falling to $32.13.
After hitting an important low of $25.05 approximately a month ago, Valvoline has bounced back 33.85% since. Valvoline's market cap currently stands at $5.69 billion with an average daily volume of 1.81 million shares.
Following the release of quarterly results, Valvoline trades at $32.13.
— Average trading volume refers to a 21-day rolling average.