Oil Penny Stocks - Oil Penny Stocks 2016 - Oil Penny Stock Picks

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Top Oil Penny Stocks 2016 - Penny Oil Stocks to Buy

Oil Penny Stocks can offer some of the best gains when the price of oil spikes.  However, oil crashed last year and appears like it will stay low for while and just because these oil penny stocks trade at a low price, doesn't mean the companies' are good.  When looking for the best oil penny stock, you must research the company very well and make sure they can at least survive for the next 8-12 months.  I like to look at the oil penny stocks' assets, cash on hand, and revenue growth.  Several years ago SSN was an oil penny stock I invested in.  I doubled my money but the stock was highly volatile.  Four years later, the company did a reverse split and the stock trades at 1/10 of the value right now.

The moral of this story is you will not always pick the right penny stock but if you do your research and believe in the company, you should do well.  Keep an eye on oil prices.  When oil is rising suddenly, oil penny stocks tend to spike to the upside.  The best gains are made in a few months when the momentum traders buy into these stocks due to the large spike in oil.  When the price of oil tanks, look for solid oil companies that were once great but fell victim to the crash.

Below is a list of oil penny stocks to watch going into 2016.  If we see oil rebound in 2016, think about buying the following penny stocks if your research makes sense.  Oil Penny Stocks always take off when the price of Oil breaks out of a key trading range.

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#1 Top Oil Penny Stock Pick 2016

Penn Virginia (PVA) - ( Oil and Gas Exploration & Production ) - Penn Virginia (PVA) will be one of the best oil penny stocks in 2016 if oil rebounds back above $50.  Penn Virginia (PVA) stock currently trades at $0.47 and just saw a big rally from $0.33-$1.23 during the oil rebound last year.  While I would buy this oil penny stock to hold, I would watch it a buy on the next break out.  PVA has resistance at $0.59 and this penny stock should really break out on a close above that level as long as oil is rebounding.  I don't like to buy and hold because PVA can easily go to $0.10 if conditions get worse in the oil sector.  

Penn Virginia (PVA), an independent oil and gas company, explores, develops, and produces crude oil, natural gas liquids, and natural gas in various onshore regions of the United States. The company’s operations include the drilling of unconventional horizontal development wells in the Eagle Ford Shale in South Texas. It also has operations in the Granite Wash in Oklahoma, and the Haynesville Shale and Cotton Valley in East Texas interests.

Top Oil Penny Stocks to Buy 2016 - Swift Energy (SFY) ( Oil & Natural Gas Stocks ) - Swift Energy (SFY) is another good oil penny stock in 2016.  SFY was once a $40 stock and is now trading at $0.31.  This penny stock recently rallied from $0.34 to $0.77 but now is back down near a record low.  In 2016, I would watch for a big rebound in oil and then buy SFY when it breaks $0.77 and we could easily see a break out back above $1.  While SFY isn't the best oil penny stock for 2016, it's one you can make money on during a break out.

Top Oil Penny Stocks - SandRidge Energy (SD) - SandRidge (SD) is a high risk penny stock but if oil rebounds in 2016, we could see a double or a triple.  As I mentioned with the other oil penny stocks, I would not buy and hold but rather wait for a clear break out and then buy SD.  SandRidge Energy (SD) is currently trading at $0.28 and will have major resistance at $0.47.  If the price of oil spikes and SD breaks $0.47, I would jump in but keep a close stop loss order.

Other Oil Penny Stocks to Watch:

Linn Energy (LINE)
LinnCo (LNCO)
Halcon Resources (HK)
Breitburn Energy (BBEP)

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