NEW YORK ( TheStreet) -- Warren Resources (Nasdaq: WRES) is trading at unusually high volume Wednesday with 2.5 million shares changing hands. It is currently at four times its average daily volume and trading down 83 cents (-15.8%) at $4.42 as of 12:22 p.m. ET. Warren has a market cap of $401.5 million and is part of the basic materials sector and energy industry. Shares are up 16.1% year to date as of the close of trading on Tuesday. Warren Resources, Inc., an independent energy company, engages in the exploration and development of onshore oil and gas reserves in the United States. The company has a P/E ratio of 20.1, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 23.4. TheStreet Ratings rates Warren as hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has not been very careful in the management of its balance sheet. You can view the full Warren Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.