MV Oil Trust (NYSE:MVO) Stock keeps On Hitting New Highs: What to Expect Now?

There is no doubt that oil & gas sector has been showing solid buying activities driven by strong rally in WTI crude, which is trading at 7-year high following OPEC+ crude producers failed to agree on lifting output, despite demand soaring along with the global economic recovery, sparking fresh inflationary fears.

So let’s take a look at two stocks which has been in focus this year.

When a stock records handsome gains over an extended period, then it might be a good time to start tracking it. This brings us to the subject of the MV Oil Trust (NYSE:MVO), which has seen its stock soar by 49% over the course of the past month.

That being said, investors need to also remember that there has been no news about the company in recent weeks that might have led to this remarkable rally. Hence, it is necessary to look into some developments from the recent past. Back in April 5 this year, the company made the announcement with regards to the payment of net profits for the quarter that ended on March 21, 2021.

It was announced that those who held units in MV Oil Trust as of April 15, 2021 were going to be paid $0.210 per unit on April 23, 2021. When investors consider the MV Oil Trust stock, it should be noted that it is a bit of an under the radar stock as far as the oil sector is concerned. However, at the same time, the high dividend yield and a rising share price make it a stock that could be included into the watch lists at this point.

Another big gainer of 2021 is Allied Energy (OTCMKTS:AGYP). The stock has soared 1100% so far in 2021 and picked up further momentum over the past couple of weeks. After four months of consolidation, AGYP stock has gained over 130% since mid-June and now trading 15% away from its 52-week high of $0.71. A recent string of Twitter updates show Allied Energy is making impressive progress at their Green and Gilmer leases located in Texas.

AGYP stock is trading above 50-day and 200-day moving average, signalling a solid breakout. So there could be another new breakout once the stock crosses a new high. Keep an eye on AGYP stock.