Camber Eenrgy (NYSE:CEI) shares are trading lower Friday morning possibly on profit-taking after the stock rallied roughly 40% yesterday.
Shares of several small-cap energy and petroleum stocks, including Camber Energy, were trading sharply higher during Thursday’s trading session amid a rise in oil prices following the Russian invasion of Ukraine, which has caused supply concerns. Amid the ongoing Russian invasion of Ukraine, crude oil prices have hit their highest level since 2014 with prices near $100 a barrel, potentially making oil and gas stocks popular among investors.
Camber Energy is active in the oil and gas market. The company is engaged in the acquisition and development of crude oil and natural gas from various known productive geological formations.
Camber Energy has a 52-week high of $4.85 and a 52-week low of $0.33. Its shares back-pedaled 10 cents, or 13.4%, to 65 cents.