3 Best Momentum Stocks to Buy Right Now

Though tensions are high due to the ongoing Russia-Ukraine crisis, not everyone is bearish.  According to Brian Belski of BMO Capital Markets, the benchmark S&P 500 would rise to 5,300 by the end of the year. Additionally…

Belski doesn’t think a recession is on the horizon.

In addition, the U.S. economy posted its strongest growth in almost four decades in 2021, on the backs of the government’s pumping of nearly $6 trillion for COVID-19 relief. The U.S. economy grew 5.7% in 2021. Pointing to the strength of the underlying economy, job growth in January exceeded expectations.

That’s why today we’re highlighting 3 stocks from our Top 10 momentum screen, which is just 1 of the 10 outperforming screens in our POWR Screens 10 service (more on that below).  Obsidian Energy Ltd. (OBE – Get Rating), BCB Bancorp, Inc. (BCBP – Get Rating), and TransGlobe Energy Corporation (TGA – Get Rating) could be ideal investments right now, given their solid momentum.

Obsidian Energy Ltd. (OBE – Get Rating)

OBE explores, produces, and develops oil and natural gas properties in the Western Canada Sedimentary Basin. The company is headquartered in Calgary, Canada. The common shares of the company shifted trading to the NYSE American stock exchange on January 31, 2022,

On January 18, OBE announced the reconfirmation of its syndicated credit facility, with no changes made to its revolving period. The structure is expected to provide a stable capital source, operational liquidity, and a long-term maturity profile.

On November 24, OBE closed its acquisition of the remaining 45% interest in the Peace River Oil Partnership through a subsidiary. About this acquisition, Stephen Loukas, OBE’s Interim President and CEO, commented, “With full ownership and the current favorable commodity price outlook, we are executing a four-well development drilling program that is expected to be on production by the end of January 2022.”

For the fiscal third quarter ended September 30, OBE’s production revenues increased 65.1% year-over-year to CAD124.50 million ($97.58 million). Net income and comprehensive income came in at CAD46.60 million ($36.52 million), while net income per share stood at CAD0.60, both up substantially from their negative year-ago values.

Analysts expect OBE’s revenue to increase 17.5% year-over-year to $423.74 million for the fiscal year 2022.

The stock has gained 572.6% over the past year and 84.5% year-to-date to close Friday’s trading session at $7.60. It is currently trading above its 50-day and 200-day Moving Averages of $5.63 and $3.73, respectively.

BCB Bancorp, Inc. (BCBP – Get Rating)

BCBP operates as a bank holding company for BCB Community Bank that provides banking products and services to businesses and individuals in the country. The company offers deposit products, including savings and club accounts and interest and non-interest-bearing demand accounts, and provides loans, like commercial and multi-family real estate.

On January 14, BCBP declared a quarterly dividend of…


Continue reading at STOCKNEWS.com


Leave a Reply

Your email address will not be published.