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, according to Benzinga Pro.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
Comstock Resources Inc (NYSE:CRK)
- On July 30, Comstock Resources posted in-line earnings for the second quarter. The company's stock fell around 32% over the past month and has a 52-week low of $8.64.
- RSI Value: 24.4
- CRK Price Action: Shares of Comstock Resources closed at $16.26 on Wednesday.
Propetro Holding Corp (NYSE:PUMP)
- On July 30, ProPetro Holding reported worse-than-expected second-quarter financial results. Sam Sledge, Chief Executive Officer, said, “In what proved to be a challenging quarter, we maintained operational and financial stability and continued to advance our strategy. Free cash flow for our completions business remained intact, supported by our capital-light investment strategy, cost control, and the consistent performance of the ProPetro team.” The company's stock fell around 23% over the past month and has a 52-week low of $4.61.
- RSI Value: 29.5
- PUMP Price Action: Shares of Propetro Holding fell 8.9% to close at $4.78 on Wednesday.
- Benzinga Pro’s charting tool helped identify the trend in PUMP stock.
Flowco Holdings Inc (NYSE:FLOC)
- On Aug. 5, Flowco Holdings posted weak quarterly sales. Joe Bob Edwards, President and CEO, said, “Flowco delivered strong second-quarter results, with sequential improvements in both Adjusted EBITDA and Adjusted EBITDA Margins, while generating robust free cash flow. These results emphasize our differentiated financial profile and the disciplined operational execution of our business segments.” The company's stock fell around 15% over the past five days and has a 52-week low of $15.58.
- RSI Value: 27.3
- FLOC Ltd Price Action: Shares of Flowco dipped 10.1% to close at $15.97 on Wednesday.
- Benzinga Pro’s signals feature notified of a potential breakout in FLOC shares.
Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.
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