These energy stocks are trading near oversold levels as Q2 earnings gains pace this week
Energy Select Sector SPDR ETF (XLE), AMLP, VDE, XOP, OIH, IXCEQT, BKR, SLB, WFRD, BTU, EFR, GPOR, UEC, LBRT, SEI, EFR:CABy: Nilanjana Basu, SA News Editor
Energy stocks are coming into focus as the second-quarter earnings season gathers momentum this week, with investors watching for signs that recent weakness has created buying opportunities.
Several names across the energy sector are now trading with relatively low Relative Strength Index readings, reflecting sustained selling pressure ahead of earnings reports and management outlooks.
Topping the list is Energy Fuels Inc. (EFR), which has an RSI of 28, placing it in oversold territory. Weatherford International plc (WFRD) and Uranium Energy Corp. (UEC) follow with RSI readings of 33 and 35, respectively.
Gulfport Energy Corporation (GPOR) and Liberty Energy Inc. (LBRT) round out the top five, each posting an RSI of 36. Other notable names include Solaris Energy Infrastructure (SEI), EQT Corporation (EQT), Peabody Energy Corporation (BTU), SLB N.V. (SLB) and Baker Hughes Company (BKR), all with RSI readings below or near 40.
The Relative Strength Index is a momentum indicator that measures the speed and magnitude of recent price movements on a scale of 0 to 100. Traditionally, an RSI above 70 suggests a stock may be overbought, while a reading below 30 indicates it may be oversold after an extended period of selling.
Although an oversold RSI does not guarantee a rebound, investors often monitor such stocks for potential shifts in sentiment, particularly around earnings announcements that could alter the market’s outlook.
Here is the list:
Energy Fuels Inc. (EFR:CA), Market Cap: 4.03B, RSI: 28
Weatherford International plc (WFRD), Market Cap: 5.79B, RSI: 33
Uranium Energy Corp. (UEC), Market Cap: 4.59B, RSI: 35
Gulfport Energy Corporation (GPOR), Market Cap: 2.75B, RSI: 36
Liberty Energy Inc. (LBRT), Market Cap: 3.89B, RSI: 36
Solaris Energy Infrastructure, Inc. (SEI), Market Cap: 4.61B, RSI: 36
EQT Corporation (EQT), Market Cap: 31.00B, RSI: 37
Peabody Energy Corporation (BTU), Market Cap: 2.73B, RSI: 38
SLB N.V. (SLB), Market Cap: 70.25B, RSI: 39
Baker Hughes Company (BKR), Market Cap: 55.51B, RSI: 41