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June 25, 2023Take a look at the following energy stocks that showed higher volumes than usual: Valvoline Inc., Cheniere Energy, Inc., EOG Resources, Inc..
Here's an update with information from the last trading session: Leading equity indices in the US declined as S&P 500 slipped 0.77% and closed at 4,348.33. Nasdaq shed 1% and closed at 13,500.
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.
Though trading was down Friday, some energy stocks reached high volumes. Here is an update.
Valvoline | 247% above rolling average
An influx of sellers pushed the automotive oil manufacturer to end the session lower around $36.06, while establishing a $35.93 to $36.42 session range Friday.
With 9.84 million shares traded Friday, Valvoline beat its daily average by 247% to cap off a frenetic trading day.
Cheniere Energy | 193% above rolling average
Despite the risk-off mood, Cheniere Energy was range-bound between $148.12 to $150.92 and settled at $148.56.
Friday's trading volume peaked at 3.91 million shares, thereby blitzing the daily average of 2 million by 193%.
EOG Resources | 206% above rolling average
EOG Resources had a compelling day Friday, with 8.30 million shares traded helping the company surpass its average daily volume by 206%.
Having soared to a high of $148.26 approximately 7 months ago, the US hydrocarbon explorer is now trading 27% lower.
EOG Resources discloses 82.5 cents per share dividend to be paid on Friday, April 28th
— Average trading volume refers to a 21-day rolling average.
