The most oversold stocks in the energy sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Excelerate Energy Inc EE
- Morgan Stanley recently maintained Excelerate Energy with ab Equal-Weight and lowered the price target from $33 to $32. The company’s stock has a 52-week low of $18.31 .
- RSI Value: 28.91
- EE Price Action: Shares of Excelerate Energy fell 0.6% to close at $20.82 on Wednesday.
GeoPark Ltd GPRK
- GeoPark announced consolidated 2022 certified reserves of 128M BOE. The company’s stock has a 52-week low of $10.26.
- RSI Value: 26.20
- GPRK Price Action: Shares of GeoPark fell 2.1% to close at $12.37 on Wednesday.
Patterson-UTI Energy, Inc. PTEN
- Patterson-UTI Energy recently posted upbeat Q4 earnings. The company’s stock has a 52-week low of $10.69.
- RSI Value: 27.57
- PTEN Price Action: Shares of Patterson-UTI Energy fell 2.3% to close at $13.20 on Wednesday and lost 1.4% in after-hours trading.
SM Energy Co SM
- SM Energy posted better-than-expected quarterly results. The company’s 52-week low is $27.92.
- RSI Value: 29.20
- SM Price Action: Shares of SM Energy fell 1.8% to close at $29.01 on Wednesday and lost 3.5% in after-hours trading.
Forum Energy Technologies Inc FET
- Forum Energy Technologies, during November, posted a Q3 loss of $0.25 per share. The company has a 52-week low of $16.78.
- RSI Value: 27.92
- FET Price Action: Shares of Forum Energy Technologies dropped 7.7% to close at $29.35 on Wednesday.
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