One sector that has had a fairly volatile year so far is the energy sector and much of it was due to the Russia-Ukraine conflict that put the whole sector in extreme volatility. The situation remains the same but volatility can also lead to surprising opportunities for enterprising investors. For instance, there might be certain attractive opportunities in the penny energy stock category for investors as well. This article is going to give you a closer look into three energy penny stocks that may be worth tracking at this point in time.
Camber Energy (NYSEAMERICAN:CEI)
One of the penny stocks from the energy sector which had previously enjoyed considerable traction was Camber Energy. It is one of the cheapest penny stocks from the sector in the market and earlier on in 2022, it enjoyed significant attention from investors. High short interest, social media buzz and speculative trading had resulted in a rollicking rally that had taken the Camber Energy stock to levels near $2 a share.
However, that rally eventually subsided and the stock has since been faring poorly. That being said, it should be noted that the company offers customized energy solutions to clients in North America and also holds interests in oil and gas assets in the United States. These are some factors that investors could do well to keep in their mind.
Tellurian Inc (NYSEAMERICAN:TELL)
Over the course of the past few months, the liquefied natural gas firm Tellurian Inc has attracted considerable interest from investors. The company boasts of marketing, trading, and production interests and is also owns a portfolio of infrastructure-related assets.
This past September, the stock suffered from a huge selloff after a deal had been terminated by the energy giant Shell. While that was certainly a setback, the latest developments in the sector have made Tellurian an energy penny stock to watch closely. Investors could consider adding it to their watch lists.
Transocean Limited (NYSE: RIG) –
Last but not least it is the contract drilling services firm Transocean Limited that may be worth adding to the list of energy penny stocks worth watching. At the time, there is considerable open interest in more than 7000 contracts for the company and that is one reason it could be watched closely. Additionally, recently the company also agreed on a deal for its real-time zone management technology HaloGuard with Salunda Limited.