Oil stocks are on the rise this morning as investors favor penny stocks in the sector with heavy trading on Monday.
So what has oil stocks on the move today? The war between Russia and Ukraine continues to affect the stock market. That, combined with ongoing inflation issues, has oil prices rising higher with crude hitting $130 a barrel overnight.
As a result of this, several oil companies are seeing their shares take off. Let’s check in on how they are being affected below!
Oil Stocks on the Move
- Occidental Petroleum (NYSE:OXY) stock starts us off with a 2.5% gain and more than 22 million shares on the move. The company’s daily average trading volume is about 21.4 million shares.
- Camber Energy (NYSEAMERICAN:CEI) shares are up next with the stock rocketing over 39% and some 160 million shares traded. Its daily average trading volume is roughly 31 million shares.
- Exxon Mobil (NYSE:XOM) stock is running around 2.4% higher as of this writing with over 13 million shares changing hands. The company’s daily average trading volume is closer to 28.4 million shares.
- Houston American Energy (NYSEAMERICAN:HUSA) shares are seeing an over 180% jump this morning with some 25 million on the move. The company’s daily average trading volume is roughly 628,000 shares.
- Imperial Petroleum (NASDAQ:IMPP) stock joins our list with the stock up some 107% as 53 million shares move. Its daily average trading volume is about 19.8 million shares.
- Nine Energy Service (NYSE:NINE) shares are rising more than 44% with some 15 million shares changing hands as of this writing. The company’s daily average trading volume is close to 443,000 shares.
- Indonesia Energy (NYSEAMERICAN:INDO) stock is next with an almost 29% increase as some 6 million shares have been traded. The company’s daily average trading volume is sitting at about 7.5 million shares.
- Marathon Oil (NYSE:MRO) shares take a spot on the list with a 6.2% jump and 10 million units on the move. The oil giant’s daily average trading volume is around 19.5 million shares.
- Devon Energy (NYSE:DVN) stock is getting a 4.6% boost this morning as some 6 million units change hands. For the record, its’ daily average trading volume is around 13 million shares.
- Vermilion Energy (NYSE:VET) shares close out our oil stocks list with an over 11% increase alongside nearly 2 million shares traded. Its daily average trading volume is about 2.3 million shares.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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