The highest volumes for yesterday went to: Phillips 66 Partners LP, HollyFrontier Corp, Cabot Oil & Gas Corp.
Here's an update with information from the last trading session: Markets were up yesterday; Nasdaq closed the day at 11,300, having gained 0.99%. S&P 500 ended the session at 4,027.26 after a 0.59% gain.
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 Yesterday Phillips 66 Partners increased by 1.89%, ended the session at $42
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.
11 months ago, the multidimensional petroleum company fell to a low of $34.26 but has since recovered 20.34%. So far in 2022 it has been beating the Nasdaq by 51.59%. 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 above rolling average HollyFrontier ended yesterday at $36.39, a 2% increase
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, the petroleum refineries company is trading 21.61% lower. The S&P 500 has been doing worse in 2022, it has been passing it by 26.82%. 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% higher than rolling average Cabot Oil & Gas Corp price action in stalemate as markets close for Thanksgiving
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 Tuesday at $22.25.
Cabot Oil & Gas Corp hit a significant low of $19.74 around 11 months ago, but has since recovered 12.72%. With an average daily trading volume of 8.56 million shares.
— Average trading volume refers to a 21-day rolling average.