3 stocks endured heavy volumes amid market jump yesterday

The following energy stocks experienced higher volumes than usual including Valvoline Inc., HollyFrontier Corp, Cabot Oil & Gas Corp and others.

A recap of yesterday's session: Markets closed higher yesterday, as Dow Jones gained 0.13% and closed at 33,877. Nasdaq ended the session at 13,259 after a 0.16% 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:

Valvoline | 248% higher than rolling average

Valvoline Inc. traded at $37.14 after making its biggest single-day drop of $1.34 (3.48%) since Feb 7. Early in yesterday's session, Valvoline dropped to $36.86 from $38.48 at the end of Thursday, before closing at $37.14. During the session, it lost 3.48%.

Valvoline outpaced its average daily trading volume (3.44 million) with 8.51 million shares traded yesterday.

HollyFrontier | 119% slightly above rolling average

HollyFrontier rose 71 cents to close at $36.39 yesterday which makes for a move of 2%.

HollyFrontier outpaced its average daily trading volume (4 million) with 4.78 million shares traded yesterday.

Cabot Oil & Gas Corp | 219% above rolling average

Yesterday's trading volume peaked at 18.76 million shares, thereby blitzing the daily average of 8.56 million by 219%.

— Average trading volume refers to a 21-day rolling average.