NEW YORK ( TheStreet) -- Clayton Williams Energy (Nasdaq: CWEI) is trading at unusually high volume Friday with 409,369 shares changing hands. It is currently at four times its average daily volume and trading up $3.40 (+4.6%) at $77.40 as of 4 p.m. ET. Clayton Williams Energy has a market cap of $912.4 million and is part of the basic materials sector and energy industry. Shares are down 10.7% year to date as of the close of trading on Thursday. Clayton Williams Energy, Inc., an independent oil and gas company, engages in the exploration for and production of oil and natural gas primarily in Texas, Louisiana, and New Mexico. The company has a P/E ratio of 8.8, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Clayton Williams Energy as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and robust revenue growth. However, as a counter to these strengths, we also find weaknesses including generally poor debt management and weak operating cash flow. You can view the full Clayton Williams Energy 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.