AMEX Independant Oil & Gas Report: GDP, GTE, MCF, EPM

Following are the major movers in the oil & gas sector over the past trading sessions. Keep an eye on these stocks as momentum is strong.

Goodrich Petroleum Corporation (NYSEAMERICAN:GDP) stock has seen solid buying interest over the past quarter with a gain of over 49% and leading the top spot in the oil & gas sector. Moreover, the stock has soared 117% so far this year. On Thursday, GDP stock jumped 3.68% to $21.97 with more than 60k shares exchanged hands, above its average volume of 109K shares.   

Contango Oil & Gas Company (NYSEAMERICAN:MCF) is another stock in the energy sector which has been showing consistent rise. The stock has moved up 13% over the past quarter. Moreover, the stock has soared 57% so far this year. The stock is trading above 148% from its 52-week low and 48% away from its 52-week high.  

Gran Tierra Energy Inc. (NYSEAMERICAN:GTE) stock continued to trend higher in Thursday’s trading session. GTE stock ended lower by 1.11% to $0.81 with more than 2.59 million shares exchanged hands, below its average volume of 6.86 million shares. The stock is trading above 364% from its 52-week low and 34% away from its 52-week high.   

Evolution Petroleum Corporation (NYSEAMERICAN:EPM) stock continued to trade in a range after the recent jump. The stock has moved up about 106% in the past year. The stock is trading above 107% from its 52-week low and just 20% away  from its 52-week high.    Evolution Petroleum (EPM) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items.

Allied Energy Corp. (OTCMKTS:AGYP) AGYP deserves a look from oil and gas investors, as they recently announced signing a new lease and also struck oil on their leased well sites in Texas. Global energy prices are at 7 year highs. With the need for more domestic energy growing apparent, AGYP and its US based exploration projects may benefit. AGYP recently issued news that they have achieved production on the #1, #2, and #5 wells of the Gilmer Lease in Texas. AGYP announced they are also making progress on the Prometheus lease.

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.