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April 27, 2020, 5:59 a.m. EDT

Oil Stocks Register Massive Trading Volume On Easing COVID-19 Fears

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    Oasis Petroleum Inc. (OAS)
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    Abraxas Petroleum Corp. (AXAS)
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    Taronis Technologies Inc. (TRNX)

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Apr 27, 2020 (The Market Signal via Comtex) -- Sector Reports was created as a platform to help investors find the best free Stock Reports on stocks they own. If you are a shareholder or looking to buy /zigman2/quotes/207530975/composite OAS +7.25% /zigman2/quotes/206346850/composite AXAS -4.85% /zigman2/quotes/200298949/composite TRNX 0.00% then we strongly urge you to join our community by signing up the link below and getting a completely free research report on each company today.

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Investor confidence is slowly building up, in the stock market as States, in the U.S continue to ease lockdown restrictions triggered by the coronavirus pandemic. A rebound in the stock market continues to gather pace waiting to see if stocks will rally back to their all-time highs. A rebound in oil prices amidst a wave of stimulus packages by the Federal Reserve also continues to support the equity markets.

It does not come as a surprise that energy stocks are registering massive turnover in traded shares as investors continue to jostle for positions.

Oasis Petroleum Trading Volume Surges On Index Funds Activities

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Oasis Petroleum Inc. /zigman2/quotes/207530975/composite OAS +7.25% is one of the stocks that experienced a high turnover in traded shares as a record-breaking week in the energy sector came to a close. More than 220 million of the company's shares were traded in the market in the Friday trading session.

High turnover in traded shares came at the backdrop of the stock rising after a recent pullback. Oasis Petroleum is one of the company's hit by sentiments in the oil industry turning sour, on oil prices plunging to record lows due to a glut in supply in the market.

Oasis seeing a massive increase in trading volume could be due to index funds that own the stock buying and selling in bulk. The stock appears to be trading at a great discount, which explains the renewed investor interest conversely triggering a massive turnover in traded shares. An uptick in oil prices should continue to fuel trading activity around the stock going forward.

Abraxas Rallies on Oil Prices Rebound

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Abraxas Petroleum Corp. /zigman2/quotes/206346850/composite AXAS -4.85% is another stock that continues to experience a massive turnover in traded shares as volatility in the energy sector continues to tick to record highs. In Fridays trading session more than 146 million of the company's shares exchanged hands as the stock rallied by more than 10%.

The stock is once again showing signs of bottoming from one-year lows as sentiments in the oil industry continue to improve. The opening up of the U.S economy, be it in some states, has continued to offer support to oil prices, which are still flirting with record lows.

Abraxas Petroleum looks set to continue rising from current lows as oil prices tick higher, and investor sentiments in the energy sector improve. The independent energy company also looks set to benefit from the easing of coronavirus restrictions that has taken a significant toll on operations in the exploration and mining business.

Taronis Technologies Rallies on NASDAQ listing Reprieve

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Taronis Technologies Inc. /zigman2/quotes/200298949/composite TRNX 0.00% continues to enjoy a volatile ride after a recent pullback triggered by a correction in the broader stock market. The NASDAQ providing temporary relief from regulatory compliance in the wake of the coronavirus pandemic is the latest development that continues to offer support to the stock.

The stock was up by more than 12% in Friday's trading session, with more than 136 million traded shares. The uptick in trading volume came on the company confirming it was not moving forward with a proposed reverse stock split given the NASDAQ reprieve. Continued listing in the NASDAQ means the company can pursue strategic options, especially on the financing front.

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COMTEX_364983311/2662/2020-04-27T05:58:43

/zigman2/quotes/207530975/composite
US : U.S.: Nasdaq
$ 0.41
+0.03 +7.25%
Volume: 16.25M
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$132.53 million
Rev. per Employee
$3.19M
loading...
/zigman2/quotes/206346850/composite
US : U.S.: Nasdaq
$ 0.14
-0.0072 -4.85%
Volume: 3.36M
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$23.73 million
Rev. per Employee
$1.49M
loading...
/zigman2/quotes/200298949/composite
US : U.S.: OTC
$ 0.03
0.00 0.00%
Volume: 418,862
Sept. 25, 2020 3:57p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$5.47 million
Rev. per Employee
$213,340
loading...
/zigman2/quotes/207530975/composite
US : U.S.: Nasdaq
$ 0.41
+0.03 +7.25%
Volume: 16.25M
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$132.53 million
Rev. per Employee
$3.19M
loading...
/zigman2/quotes/206346850/composite
US : U.S.: Nasdaq
$ 0.14
-0.0072 -4.85%
Volume: 3.36M
Sept. 25, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$23.73 million
Rev. per Employee
$1.49M
loading...
/zigman2/quotes/200298949/composite
US : U.S.: OTC
$ 0.03
0.00 0.00%
Volume: 418,862
Sept. 25, 2020 3:57p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$5.47 million
Rev. per Employee
$213,340
loading...

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