Here is the recap for the top 3 major gainers in the Oil & Gas sector trading under $5 on Thursday. keep an eye on the following stocks.
Tellurian Inc (NASDAQ:TELL) continued to move higher and one of the biggest gainers this week in the Oil & Gas sector. The stock soared 22.71% to close at $3.87. Yesterday, the stock witnessed higher than average volume with more than 111.27 million shares exchanged hands, compared to its average volume of 10.25 million. The stock opened at $3.99 and moved within a wide range of $3.5800 – 4.1300. The stock got a boost on the news of a new long-term contract supporting its proposed Driftwood LNG development.
Tellurian has agreed to supply Gunvor Singapore with 3 million tonnes per annum (mtpa) of LNG over a 10-year period. The company would deliver the LNG from its proposed Driftwood LNG natural gas liquefaction facility near Lake Charles, Louisiana. That agreement covers more than 10% of the facility’s proposed 27.6 mtpa capacity.
Target Hospitality Corp (NASDAQ:TH) gained momentum as the stock went up 14.20% for the session to $3.70. The stock has moved within a wide range of $3.4150 – 4.1900. The stock has surged about 134% year-to-date. Moreover, the stock has moved up almost 110% over the past 6-month. The stock is trading 13.75% below its 52-week high and 351.22% higher from its 52-week low.
Torchlight Energy Resources (NASDAQ:TRCH) was another gainer in the Oil & Gas sector. The stock was up 1.70% at $2.39. More than 4.28 million shares have been traded hands, compared to its average volume of 10.48 million. Over the past 52-week, the stock moved within a range of $0.2100 – 4.8300. The stock has soared 241% so far in 2021 and 613% in the past 6-month.The stock is trading in the neutral zone as RSI stands at 62.
Another oil & gas stock that could be on the watchlist for the coming sessions is Allied Energy (OTCMKTS:AGYP). The stock has seen a nice uptrend since the beginning of this year gaining 500%. Moreover, the stock has built a strong base of around 30 cents after weeks of consolidation. Interestingly, the stock is trade above 200-SMA of $0.17 – which signals that the long-term uptrend is still intact.
