Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Stone Energy (NYSE: SGY) shares jumped 10% in trading today on normal trading volume.

So what: This move, while drastic, brings the stock back to levels it saw at the end of April. It was a strong day in the stock market for many energy stocks, and investors were extra keen on Stone.

Now what: There really wasn't any special news to warrant that kind of a move. Stone is a much smaller company than peers Concho Resources (NYSE: CXO) and Whiting Petroleum (NYSE: WLL), so its shares tend to be more volatile -- hence the larger gain on a day that favored many companies in the energy space. It's nothing to get particularly excited or depressed about, but it certainly feels nice if you happen to already have been a Stone shareholder.

Interested in more info on Stone Energy? Add it to your watchlist here by clicking here.

Ilan Moscovitz doesn't own shares of any company mentioned. Try any of our Foolish newsletter services free for 30 days. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community. The Motley Fool has a disclosure policy.