Here are the recap for the top 3 major Nasdaq stock movers in the Oil & Gas sector trading on Wednesday. keep an eye on the following stocks.
Martin Midstream Partners L.P. (NASDAQ:MMLP) continues to move higher and one of the biggest gainers last month in the Oil & Gas sector. The stock was up 10.15% to $3.31 on Wednesday. The stock witnessed higher than average volume with more than 727K shares exchanged hands, compared to its average volume of 166K. The stock opened at $2.97 and moved within a wide range of $2.9700 – 3.6700.
TransGlobe Energy Corporation (NASDAQ:TGA) gained momentum as the stock went up 4.52% to close at $1.62. The stock had moved within a wide range of $1.5500 – 1.6400. The stock has surged about 68% year-to-date. Moreover, the stock has moved up almost 17% over the past 6-month. The stock is trading 31% below its 52-week high and 340% higher from its 52-week low.
Berry Corporation (NASDAQ:BRY) is another mover in the Oil & Gas sector. The stock was down 1.40% at $5. More than 243k have been traded hands, below its average volume of 367k shares. Over the past 52-week, the stock moved within a range of $2.5200 – 7.2500. The stock has soared 37% so far in 2021 and 8% in the past 6-month.The stock is trading in the neutral zone as RSI stands at 37.
Another oil & gas stock to keep an eye on is Allied Energy (OTCMKTS:AGYP). After gaining solid momentum in July, the stock has seen profit booking recently. Considering the recent range bound trading, AGYP may have digested the 510% gain year-to-date and may be preparing for another breakout above 43 cents.
AGYP reported a positive Q2 financial report which showed a strategy of large cuts in operational and net losses through dramatically cut expenses. Free cash flow created was then reinvested back into the Company’s primary activity: leasing oil wells and applying new technology to make them commercially new again. AGYP’s management team and long term investors see a bright future.
Analyst predictions that AGYP was among oil and gas stocks to watch in August have borne truth. Media reports of the importance of domestic oil and gas was underscored by the scenes in Afghanistan the past few days. The Biden administration is now asking global oil producers in the Middle East to raise daily production levels as the U.S. slashes its oil/gas output. The result is that oil prices remain high globally and at home and continuing unrest in the Middle East makes pricing and supply volatile