3 Energy Penny Stocks That Are Climbing During Trading Today
Are penny stocks a good investment? This is a question that is asked often, and the answer is not always clear. For some people, penny stocks can be a great investment and one that could result in a high return. However, for others, penny stocks are too risky and can lead to large losses.
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So, what exactly are penny stocks? Penny stocks are stocks that are trading for less than $5 per share. They can be a great investment for some people because they offer a high potential return, however the frequency at which penny stocks move, can also mean high risk.
Are Energy Penny Stocks Worth Buying?
When it comes to energy penny stocks, we have to understand the difference between within the sector itself. This sector includes stocks from companies that are involved in the production and distribution of energy, such as oil, gas, liquid natural gas, alternative energy, and coal.
Energy stocks can be a great investment for some, as the price of oil and gas has shot up tremendously in the past few weeks. Additionally, energy stocks can offer a high potential return. However, like penny stocks themselves, energy stocks also come with a lot of risk. This is because the energy sector can be volatile, and it is important to do your research before investing in these stocks.
Some examples of energy stocks that investors are watching right now include Houston American Energy Corp. (NYSE: HUSA) and Indonesia Energy Corp. Ltd. (NYSE: INDO). While these are not penny stocks, they are energy companies that are climbing in value right now. With this in mind, let’s take a look at three energy penny stocks to watch right now.
3 Energy Penny Stocks to Add to Your Watchlist Right Now
- Enservco Corp. (NYSE: ENSV)
- Transocean Ltd. (NYSE: RIG)
- Gran Tierra Energy Inc. (NYSE: GTE)
Enservco Corp. (NYSE: ENSV)
One of the biggest gaining energy penny stocks today is ENSV stock. By midday, shares of ENSV stock had shot up by over 29%. This brings it to more than $3.92 per share, which is quite substantial. Now, if that seems like a lot, in the past five day and one month period, shares of ENSV stock have exploded by over 250% and 540% respectively. These are major gains that reflect both the energy industry as a whole and ENSV stock independently. To understand why ENSV stock is growing, we have to examine both the industry and the company.
On the industry side, we’ve all seen the price of oil and gas climb tremendously in the past few weeks. And as a result, oil and gas penny stocks such as ENSV, have climbed as well. In terms of company specifics, the most recent news from Enservco came on November 15th. On the 15th, it announced its Q3 2021 financial results. In the results, the company posted revenue up over 72% with an adjusted EBITDA improvement of 10%.
“We are particularly pleased with our Texas operations, where third quarter revenue grew 126% year over year on the strength of increased demand for our hot oiling services in both our legacy south Texas yard and our new location in east Texas.”
The CFO and President of Enservco, Marjorie Hargrave
This is very exciting news and reflects sizable growth from the company at large. Considering this, will ENSV be on your penny stocks watchlist?
Transocean Ltd. (NYSE: RIG)
RIG is another penny stock that we have covered numerous times and one that is showing bullish momentum right now. Although its gains during trading today are nothing to write home about, in the past five days, shares of RIG stock have shot up by over 30%. And, in the past six months, that number jumps to more than 40%.
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To understand whether Transocean is worth buying or not, we have to take a look at the most recent company-specific news. A few weeks ago, Transocean reported its Q4 2021 financial report. In the report, it brought in a quarterly loss of $0.19 per share which is well above the estimate. However, this is much less than its previous years same quarter loss of $0.34 per share. In addition to this, Transocean posted revenue of $671 million for the quarter, which beat the Zachs estimate by around 0.40%.
While its next round of earnings will be crucial to understanding how RIG stock is performing, there’s no doubt that these are exciting prospects nonetheless. With that in mind, is RIG stock worth adding to your list of penny stocks to watch or not?
Gran Tierra Energy Inc. (NYSE: GTE)
With over 1% in gains on March 10th, GTE is another energy penny stock that is climbing during trading right now. In the past five days, shares of GTE stock have shot up by around 12% and more than 46% in the past month. And, in the past six months, GTE stock has exploded by over 180%. These gains are highly substantial and reflect the energy industry as a whole and Gran Tierra’s movement during that time. The most recent news from the company came back in January. In January, it announce its 2021 year end reserves.
“During 2021, Gran Tierra achieved strong 148% PDP and 123% 1P reserves replacement through our successful results from our development drilling, waterflooding programs and field performance.
We completed our 2021 development plan on-budget including waterflooding efforts and development drilling in the Acordionero and Costayaco oil fields, as well as workover activities in the Moqueta oil field.”
CEO and President of Gran Tierra, Gary Guidry
Right now, we have to consider that the energy industry is continuing to heat up. With the price of oil building as a result of the war occurring in Ukraine, companies like Gran Tierra continue to be top priority for investors. Whether this makes GTE worth buying or not is up to you.
Which Penny Stocks Are You Watching?
There is no easy answer when it comes to whether penny stocks are worth it or not. They can be incredibly profitable and provide investors with a great return on their investment, but they can also be risky.
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Before you decide if penny stocks are worth buying, you need to understand what stocks are, how the stock market works, and the risks involved in investing in stocks. With that in mind, do you think penny stocks are worth it or not?
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