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February 26, 2023
Take a look at the following energy stocks: Pioneer Natural Resources Co, EOG Resources, Inc., EQT Corporation and others showed higher volumes than usual.
Here's an update with information from the last trading session: Leading equity indices in the US declined as Nasdaq was down 1.69% before closing the session at 11,400. Dow Jones closed at 32,817, a 1.02% change.
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.
Pioneer Natural Resources | 284% above rolling average
Pioneer Natural Resources Co had a compelling day Friday, with 7.92 million shares traded helping the company surpass its average daily volume by 284%.
Pioneer Natural Resources hit a significant low of $196.57 around 2 days ago, but has since recovered 4.32%. On a negative trend for around a month.
Pioneer Natural Resources discloses $5.71 per share dividend to be paid on Thursday, December 15th
EOG Resources | 228% higher than rolling average
EOG Resources outpaced its average daily trading volume (3.85 million) with 8.75 million shares traded Friday.
The US energy company has shed 19.19% over the past three months.
EOG Resources discloses 82.5 cents per share dividend to be paid on Tuesday, January 31st
The company reported earnings of 3.3 per share Thursday, falling short of expectations of 3.31. Revenue was also lower than expected at $6.49 billion versus $7.33 billion. Since the release of its earnings report, EOG Resources lost 2.82%
EQT | 180% above rolling average
EQT had a compelling day Friday, with 14.28 million shares traded helping the company surpass its average daily volume by 180%.
Approximately 5 months ago, the US energy company reached a significant high of $50.6 but has struggled to hold onto its gains and declined 35.79% since then.
EQT's board sets quarterly dividend of 15 cents per share to be paid on Wednesday, March 1st; annual dividend yield esimated at 1.73%.
— Average trading volume refers to a 21-day rolling average.
