Phillips 66 Partners LP, HollyFrontier Corp, Cabot Oil & Gas Corp had the highest volumes today.
Today's session summary: Markets completed a mixed session today while Dow Jones gained 0.45% and closed at 34,347. Nasdaq shed 0.52% and closed at 11,226.
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 today, several energy stocks were actively traded. Here's an update:
Phillips 66 Partners | 221% above rolling average Phillips 66 Partners closes at $42 after gaining 1.89%
Phillips 66 Partners LP outpaced its average daily trading volume (7.33 million) with 16.20 million shares traded today. Phillips 66 Partners went up to $42 today after ending Wednesday at $41.23. Overall, a 1.89% move or 77 cents.
HollyFrontier | 119% slightly greater than rolling average Solid session for HollyFrontier generates 2% gain today
With 4.78 million shares traded today, HollyFrontier beat its daily average by 119% to cap off a frenetic trading day. HollyFrontier went up to $36.39 today after ending Wednesday at $35.68. Overall, a 2% move or 71 cents.
HollyFrontier hit a significant low of $29.34 around 8 months ago, but has since recovered 21.61%. So far in 2022 it has been beating the S&P 500 by 26.7%. With an average daily trading volume of 4 million shares. HollyFrontier expected revenue of $4.12 billion with an EPS of 41.06 cents.
Cabot Oil & Gas Corp | 219% above rolling average Cabot Oil & Gas Corp maintains composure within $21.51 to $22.39 range
Cabot Oil & Gas Corp outpaced its average daily trading volume (8.56 million) with 18.76 million shares traded today. Cabot Oil & Gas Corp closed a flat day of trading at $22.25 today after ending Wednesday at $22.25.
11 months ago, the hydrocarbon exploration company fell to a low of $19.74 but has since recovered 12.72%. With an average daily volume of 8.56 million shares.
— Average trading volume refers to a 21-day rolling average.