Oil futures finished higher on May 4, with US prices moving back above the $20 a barrel price mark, while several oil penny stocks spent Monday trading up.
Here are five.
5 NYSE Oil Penny Stocks Trading Up: ECA Marcellus Trust I (NYSE:ECT)
ECA Marcellus Trust I is an American company involved in the oil and gas integrated industry. It owns royalty interests in producing and developing horizontal natural gas wells for Energy Corporation of America.
On May 4, ECT stock is up 0.98% at $0.61, as of 3:47 PM EDT; this makes it the first on our list of oil penny stocks trading up.
In March, ECA Marcellus announced that its Annual Report on Form 10-K for the year ended December 31, 2019, had been filed with the Securities and Exchange Commission. The month before, the Houston-based company announced that its distribution for the quarter ended December 31, 2019, will be $0.019 per unit.
5 NYSE Oil Penny Stocks Trading Up: Permianville Royalty Trust (NYSE:PVL)
Permianville Royalty Trust is an American company that operates a statutory trust.
PVL stock is among the oil penny stocks trading up on Monday, as Yahoo Finance reports that shares are up 3.17% at $1.30, as of 3:37 PM EDT.
On April 17, Permianville Royalty Trust disclosed a cash distribution to the holders of its units of beneficial interest of $0.029000 per unit, which is payable on May 12. According to the press release, the net profits interest calculation represents reported oil output for January 2020 and reported natural gas output during December of last year.
5 NYSE Oil Penny Stocks Trading Up: Permian Basin Royalty Trust (NYSE:PBT)
Permian Basin Royalty Trust is an American oil and natural gas royalty trust. The company is one of the biggest royalty trusts in the United States, and the third on our list of oil penny stocks trading in the green on Monday.
On May 4, Yahoo Finance reports that PBT stock was up 0.66% at $3.04 at market close.
On April 20, Permian Basin Royalty Trust disclosed its April cash distribution and 2020 reserve quantities. According to the press release, Permian announced a cash distribution to the holders of its units of beneficial interest of $0.023048 per unit, which is payable on May 14 to unit holders on record on April 30 of this year. The distribution for April is lower than it was in March, due to the decline in oil prices.
5 NYSE Oil Penny Stocks Trading Up: MV Oil Trust (NYSE:MVO)
MV Oil Trust is a Texas-based company that acquires and holds net profit interests in the oil and natural gas properties of MV Partners, LLC.
On May 4, MVO stock closed the trading session up 1.94% at $3.15.
On April 22, MV Oil Trust announced that on March 13, it filed its Annual Report on Form 10-K for the year ended December 31, 2019, with the SEC.
5 NYSE Oil Penny Stocks Trading Up: Precision Drilling Corporation (NYSE:PDS)
Precision Drilling Corporation is a Canadian drilling rig contractor that also provides oil field rental and supplies.
On May 4, PDS stock was among the oil penny stocks trading in the green, closing the session up 8% at $0.54. However, as of 4:27 PM EDT, shares are down 1.85% in after-hours trade.
On April 30, the Calgary, Alberta-based company released its 2020 Q1 financial results. Highlights include that revenue came in at $379 million, which represents a 13% decrease from Q1 2019. The first quarter’s cash balance increased, however, from December 31, 2019, coming in at $97 million. Additionally, net loss came in at $5 million, while the company reduced its unsecured senior notes balance by $41 million.
What do you think about these oil penny stocks trading up today? Do you think they will be able to remain in the green for the rest of the week? Let us know your thoughts in the comments below.
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