Phillips 66 Partners LP, HollyFrontier Corp, Cabot Oil & Gas Corp and others reached higher-than-usual trading volumes.
A quick recap of where the last trading session ended: Markets were up yesterday; Dow Jones ended the session at 32,827 after a 1.31% gain. S&P 500 closed the day at 3,806.8, having gained 0.96%.
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.
Price action was mostly bullish yesterday with some energy stocks recording abnormally high trading volumes. Here's a recap:
Phillips 66 Partners | 221% above rolling average Phillips 66 Partners levels up 1.89% in yesterday's session; traders eye opening bell in 36 minutes time
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 Friday 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 61.18%. Phillips 66 Partners has a market cap of $9.59 billion with an average daily volume of 7.33 million shares. Phillips 66 Partners has a forecast of $436.47 million with an EPS of 94.5 cents.
HollyFrontier | 119% slightly above 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 Friday at $35.68. Overall, a 2% move or 71 cents.
Having set a significant low of $29.34 8 months ago, HollyFrontier is trading 21.61% higher. The S&P has been doing worse in 2022, it has been passing it by 33.85%. The company has a market cap of $5.93 billion with an average daily trading volume of 4 million shares. HollyFrontier is forecasted to generate revenues of $4.12 billion and 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
Cabot Oil & Gas Corp outpaced its average daily trading volume (8.56 million) with 18.76 million shares traded yesterday. Cabot Oil & Gas Corp closed a flat day of trading at $22.25 yesterday after ending Friday at $22.25.
Cabot Oil & Gas Corp is up 12.72% from the significant low of $19.74 it hit 11 months ago. The company's market cap is $8.89 billion with an average daily volume of 8.56 million shares.
— Average trading volume refers to a 21-day rolling average.