Penny stocks can be a great way to make money in the stock market quickly. One of the reasons for this is that no matter what happens with broader trends, some micro-events are likely sparking momentum with cheap stocks. These lower-priced names tend to move separately from more general trends, whether it’s low float penny stocks, short squeeze stocks, or even tech stocks breaking out while the stock market is down. Today we look at a handful of energy penny stocks moving higher as the latest stock market rally has stalled.
Energy Penny Stocks To Watch
- Gran Tierra Energy Inc. (NYSE: GTE)
- Enservco Corp. (NYSE: ENSV)
- Camber Energy Inc. (NYSE: CEI)
- U.S. Well Serices (NASDAQ: USWS)
- Transocean Limited (NYSE: RIG)
Penny Stocks To Buy
Ideally, when you find some penny stocks to buy, you’ll investigate things further. Determining what catalysts are in play is an excellent first step. Today, looking at energy penny stocks, even though the market is down, plenty of energy names are on the rise. The conflict between Russia and Ukraine has added more fuel to the fire. Today we look at this latest sector trend that has already begun to propel several energy penny stocks today.
Gran Tierra Energy Inc. (NYSE: GTE)
Shares of Gran Tierra Energy have mounted a strong comeback since dipping late last month. The company was moving higher after reporting more robust earnings figures for its full-year and fourth quarter, 2021. management, including CEO Gary Guidry, expect a solid year for 2022. Guidry explained that “In the Company’s high oil case for 2022 guidance, which assumes a Brent oil price of $80 /bbl, we forecast that Gran Tierra could generate $100-120 million of 2022 free cash flow2, which would allow us to completely pay down our bank credit facility before the end of the first half of 2022.”
With this backdrop and a robust energy market, GTE stock has bounced in March. Meanwhile, it doesn’t appear that the market is making a bet against the company right now. If you look at the short data from Fintel.IO, the short float percentage is less than 0.50% as of this article.
Enservco Corp. (NYSE: ENSV)
Shares of Enservco have been on the penny stocks list of names to watch for several reasons. Yes, it is an energy company as it does provide well-site services to onshore oil and gas industries. However, the more significant focus for some traders right now is the growing short position in the penny stock.
According to the most recent data from Fintel.IO, the ENSV short float percentage is over 30%. With the rising energy prices and likely push for more production outside of Russia, services companies could become a larger focus for the market. Enservco’s aim is growth. In its most recent quarterly update, Marjorie Hargrave, President, and CFO, explained, “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. We are in the process of re-deploying additional hot oiling assets to meet this growing demand in Texas.”
Camber Energy Inc. (NYSE: CEI)
A frequently-discussed meme penny stock, Camber Energy is back in the limelight. Amid a surge of momentum in energy names, the company’s majority-owned subsidiary, Viking Energy Group, recently acquired a controlling stake in entities with ownership in electric transmission IP. Specifically, Camber gains access to a suite of systems that can detect breaks in transmission and distribution lines that can immediately cut power to a transmission line before it hits the ground.
Like ENSV, CEI stock has also amassed a bit of short interest in the market. According to Fintel, CEI’s short float percentage sits around 10%. With the Reddit army keeping this in the conversation amid rising tensions in the energy sector, it could be one of the penny stocks to watch right now.
U.S. Well Serices (NASDAQ: USWS)
A recent patent allowance from the US Patent Office has traders looking at USWS for their watch lists this week. U.S. Well Services received this allowance for a patent titled “High Horsepower Pumping Configuration For An Electric Hydraulic Fracturing System.” Considering that the company provides hydraulic fracturing services, this patent win extends its IP further.
Meanwhile, other key events have bolstered growth for U.S. Well Services this month. Not only was it able to raise new cash ($25 million), it also finalized a deal with Range Resources to extend an existing electric fleet contract. The company will roll out a new Nyx Clean Fleet platform in November to support Range’s Appalachian completion program into 2024.
Transocean Limited (NYSE: RIG)
Believe it or not, penny stocks aren’t solely focused on by retail traders (shocking, right?). There are plenty of analysts and fund managers taking a stab at lower-priced stocks. In a recent episode of CNBC’s Final Trades, options expert Pete Najarian said he expects Transocean LTD to “go higher.” Unfortunately, since his statement, RIG stock has fallen lower until the start of this week.
As energy prices volley, Transocean stock seems to have settled around $4.50 during the past few sessions. Its recent earnings update showed what the company is looking to achieve in 2022.
“As we move into 2022, we are more optimistic than we have been in the past seven years. Energy demand remains resilient driving oil prices to seven-year highs. As a result, we are experiencing a growing list of opportunities from customers across the globe who value our high-specification floating fleet and our strong and consistent operating performance. With customer demand growing, and utilization for active high-specification assets pushing higher, we expect the upward trend in dayrates to continue as we progress through the year.”Chief Executive Officer, Jeremy Thigpen
With a brighter focus on energy stocks this week, RIG could be one of the lower-priced names for your penny stocks list.
Energy Stocks To Watch
With more volatility in the stock market, no sector is immune to the wild fluctuations in price movement. When it comes to energy right now, many bullish or bearish moves are directly tied to geopolitics and what’s happening between Russia and the rest of the world. Given this, make sure you’ve got a plan in place if the tides turn quickly with breaking news, and stay tuned to PennyStocks.com updates for more details as they emerge.