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On June 22, Offshore Drilling Stocks Rose on Volume Spike

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High volume

On June 22, three offshore drilling stocks traded at unusually high volumes, which led to prices rising.

Diamond Offshore

On June 22, Diamond Offshore’s (DO) stock closed at $19.6—7.57% higher than the previous day’s closing price. The company’s trading volume increased to 1.35 million. The stock experienced the most active day of this year. Diamond Offshore’s year-to-date trading volume average is 423,000. The volume of a stock traded is the number of shares that changed hands in a particular period.

Ensco

Ensco’s (ESV) stock closed at $6.35—6.19% higher than the previous day’s closing price. Ensco’s trading volume on June 22 increased to 41.7 million—its highest level this year. Ensco’s year-to-date trading volume average is 3.06 million.

Rowan Companies

Rowan Companies’ (RDC) stock closed at $15.23—8.01% higher than the previous day’s closing price. Rowan Companies also had its most active trading day on June 22. 2.25 million shares were traded, compared to the year-to-date average volume of 776,000.

Others in the industry

Transocean (RIG) rose 6.37% and Noble Corporation (NE) rose 9.7%. On the other hand, Seadrill’s (SDRL) stock price dropped by 7.8%.

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