NEW YORK ( TheStreet) -- Petroleum Development Corporation (Nasdaq: PETD) is trading at unusually high volume Friday with 1.1 million shares changing hands. It is currently at 4.8 times its average daily volume and trading up $1.20 (+2.7%) at $45.86 as of four p.m. ET. Petroleum Development has a market cap of $1 billion and is part of the basic materials sector and energy industry. Shares are up 5.7% year to date as of the close of trading on Thursday. Petroleum Development Corporation, an independent energy company, engages in the exploration for, development, production, and marketing of oil and natural gas. The company specializes in the purchase, aggregation, and resale of natural gas from other producers. The company has a P/E ratio of 120, below the average energy industry P/E ratio of 139.3 and above the S&P 500 P/E ratio of 15.6. TheStreet Ratings rates Petroleum Development as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and weak operating cash flow. You can view the full Petroleum Development Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.