Phillips 66 Partners LP, Valvoline Inc., Eni S.p.A. had the highest volumes yesterday.
A recap of yesterday's session: Markets closed higher yesterday; S&P 500 gained 5.54% and closed at 3,956.37. Dow Jones closed the day at 33,700, having gained 3.7%.
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% higher than rolling average Phillips 66 Partners closes at $42 after gaining 1.89%
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 Wednesday at $41.23. Overall, a 1.89% move or 77 cents.
Phillips 66 Partners hit a significant low of $34.26 around 11 months ago, but has since recovered 20.34%. So far in 2022 it has been beating the Nasdaq by 56.47%. Phillips 66 Partners is currently trading with a market cap of $9.59 billion with an average daily trading volume of 7.33 million shares. Phillips 66 Partners has a forecast of $436.47 million with an EPS of 94.5 cents.
Valvoline | 256% higher than rolling average Valvoline opened at $31.96 yesterday before posting solid session gaining 3.29%
Trading volume peaked at 4.28 million shares yesterday, thereby obliterating the daily average of 1.67 million by 256%. Valvoline went up to $31.68, gaining 3.29%.
Valvoline is scheduled to announce earnings results Tuesday. The consensus EPS estimate is 0.56 and the consensus revenue estimate is $783.23 million.
ENI | 217% higher than rolling average Risk-on sentiment allowed ENI to post 4.16% gain yesterday
Yesterday's trading volume peaked at 921,350 shares, thereby blitzing the daily average of 424,503 by 217%. After closing Wednesday at $27.62, ENI closed at $28.77 yesterday after climbing to $28.77 and dropping back down.
ENI hit a significant low of $20.44 around a month ago, but has since recovered 35.13%. So far in 2022, it has performed better than the Nasdaq by 47.8%. The company's market cap is $50.68 billion with an average daily volume of 424,503 shares.
— Average trading volume refers to a 21-day rolling average.