#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.
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 companys 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)
Halcon Resources (HK)