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April 04, 2023
Halliburton Co, Marathon Oil Corp, Schlumberger NV and others reached higher-than-usual trading volumes.
Yesterday's session summary: Markets completed a mixed session yesterday while Dow Jones ended the session at 33,600 after a 0.98% gain. S&P 500 closed the day at 4,124.51, having gained 0.37%.
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 yesterday, several energy stocks were actively traded. Here's an update:
Halliburton | 210% above rolling average
The world's 2nd largest oil field service company closed at $34.1 after it made its largest daily jump of $2.46 (7.77%) since December 2022. After ending Friday's session at $31.64, Halliburton went up to $34.69 yesterday only to fall back and close at $34.1.
Trading volume was 23.26 million shares yesterday — beating the daily average by a mammoth 210%.
Marathon Oil | 181% higher than rolling average
With 21.35 million shares traded yesterday, Marathon Oil beat its daily average by 181% to cap off a frenetic trading day.
The US oiler reached a significant high of $33.03 around 4 months ago but has lost 27.46% since then.
Marathon Oil discloses 10 cents per share dividend to be paid on Friday, March 10th
Schlumberger | 172% above rolling average
Yesterday's trading volume peaked at 19.76 million shares, thereby blitzing the daily average of 11.51 million by 172%.
Over the past 2 months, the energy tech provider has retreated 16% from a noteworthy peak of $58.46.
Schlumberger's board sets quarterly dividend of 25 cents per share to be paid on Thursday, April 6th; annual dividend yield esimated at 1.91%.
— Average trading volume refers to a 21-day rolling average.
