| 
June 27, 2023HollyFrontier Corp, Western Midstream Partners, LP, Cabot Oil & Gas Corp and others reached higher-than-usual trading volumes.
A quick recap of where the last trading session ended: Leading equity indices in the US declined as after dropping 1.16%, Nasdaq closed at 13,336. S&P 500 slipped 0.45% and closed at 4,328.82.
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 yesterday, some energy stocks reached high volumes. Here is an update.
HollyFrontier | 119% slightly above rolling average
The company has a market cap of $7.14 billion with an average daily volume of 4 million shares.
Trading volume peaked at 4.78 million shares yesterday, thereby obliterating the daily average of 4 million by 119%.
Western Midstream | 125% slightly greater than rolling average
After ending yesterday at $26 and losing 41 cents, it now trades below the $26 level for the first time in 3 weeks. The natural gas distributor has recovered almost all of its session losses after dipping down to $26 yesterday.
Yesterday's trading volume peaked at 1.32 million shares, thereby blitzing the daily average of 1 million by 125%.
Cabot Oil & Gas Corp | 219% above rolling average
Cabot Oil & Gas Corp is currently trading with a market cap of $17 billion with an average daily trading volume of 8.56 million shares.
With 18.76 million shares traded yesterday, Cabot Oil & Gas Corp beat its daily average by 219% to cap off a frenetic trading day.
— Average trading volume refers to a 21-day rolling average.
