| 
July 01, 2023
HollyFrontier Corp, Cabot Oil & Gas Corp, Hess Corporation and others reached higher-than-usual trading volumes.
Here's an update with information from the last trading session: Markets had an interesting day yesterday; S&P 500 gained 1.23% and closed at 4,450.38. Nasdaq closed the day at 13,800, having gained 1.45%.
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:
HollyFrontier | 119% slightly greater than rolling average
The company's market cap currently stands at $7.14 billion with an average daily trading volume of 4 million shares.
Trading volume peaked at 4.78 million shares yesterday, thereby obliterating the daily average of 4 million by 119%.
Cabot Oil & Gas Corp | 219% above rolling average
Cabot Oil & Gas Corp's market cap is currently $17 billion with an average daily volume of 8.56 million shares.
Cabot Oil & Gas Corp had a compelling day yesterday, with 18.76 million shares traded helping the company surpass its average daily volume by 219%.
Hess Corporation | 146% higher than rolling average
Hess Corporation is up $2.09 to $135.95, building upon four consecutive days of gains. Having set a significant high of $160.44 5 months ago, the oil and gas producer is trading 16.57% lower. The stock has been trending positively for about 30 days. Hess Corporation has a market cap of $41.74 billion with an average daily volume of 1.68 million shares.
Yesterday's trading volume peaked at 2.45 million shares, thereby blitzing the daily average of 1.68 million by 146%.
— Average trading volume refers to a 21-day rolling average.
