The stock of United Energy Corp. (OTCMKTS: UNRG) is one more penny stock that you should keep an eye on. This stock has been making waves recently and has performed impressively in the markets.
The UNRG stock has grown 105.1% in the last one month. Its growth has been 8,286.96% in the last 3 months. On YTD basis it has returned 10,052.63% and in the last one year, its returns have been 14,738.46%. That is enough to make any trader or investor drool over this penny stock.
United Energy Corp. is involved in the development and distribution of specialty chemical products, especially for the oil and gas industry. The company develops industrial-grade maintenance products. These products include a wide range of chemical products for refineries, pipelines, wells, and tanks. United Energy Corp was established in 1971 and its headquarters are in Howell, NJ. The company has many affiliated offices distributed in various regions such as Tulsa, Oklahoma; Houston, Texas; Monterrey, Mexico; Regina Saskatchewan; Jacksonville, Florida; Calgary, Alberta; Denver, Colorado; Kansas City, Kansas; Minneapolis, Minnesota; Orlando, Florida; Seattle, and Washington.
The company has a number of subsidiaries which include United Energy Trading, LLC (UET), Rainbow Gas Company, RC Energy, Missouri River Royalty Corporation (MRRC), and Rainbow Energy Marketing Corporation (REMC).
The company’s subsidiary United Energy Trading, LLC (UET) is involved in marketing crude oil and natural gas. UET Shipping, LLC handles the business of transporting crude oil which is produced in North Dakota and is marketed in the Gulf Coast. Another subsidiary of the company, MRRC is mainly involved in the acts of oil and gas exploration. This entity also handles the production of these energy products. REMC operates projects in Mexico, Canada, and the United States. Rainbow Gas Company has a limited regional presence and its function involves supplying natural gas to industrial customers and commercial establishments within the WBI Energy Transmission system.
The energy sector is always a hot commodity, and this penny stock is expected to grow further after its recent burst on charts. Its various technical indicators are still showing mostly bullish patterns. So perhaps it will be good to buy on dips, near support levels.
Looking at United Energy Corp. financials, the company has a gross profit margin of 60.04%. Its EBIT margin is 42.99%. The company has declared a net margin of -46.69% while its return on assets is registered as -39.03%. The company has not mentioned the return on equity in its filings and has declared its asset turnover ratio as 1.45%. United Energy Corp has revenue of 1.32M with a -20 2.75% revenue growth. The company’s net income is -616,352 and its revenue per share is 0.04. The company has declared a gross profit of 792,676 and EBITDA -505,959. The company’s total cash is 66,890 and its total debt is 493,883.
The UNRG stock is expected to make new waves in 2020, so it will be a wise move to keep looking at it charts and be ready to buy when the stock moves up from support levels.