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.
Enbridge Inc. (NYSE:ENB)
- On Oct. 1, Goldman Sachs analyst John Mackay reinstated Enbridge with a Neutral and announced a $50 price target. The company’s stock fell around 8% over the past month and has a 52-week low of $45.02.
- RSI Value: 26
- ENB Price Action: Shares of Enbridge fell 0.5% to close at $46.27 on Thursday.
- Edge Stock Ratings: 16.71 Momentum score with Value at 61.13.
National Energy Services Reunited Corp (NASDAQ:NESR)
- On Sept. 29, UBS analyst Josh Silverstein maintained National Energy Services with a Buy and lowered the price target from $47 to $46. The company’s stock fell around 24% over the past five days and has a 52-week low of $9.96.
- RSI Value: 23.9
- NESR Price Action: Shares of National Energy Services Reunited fell 2.1% to close at $24.94 on Thursday.
- Benzinga Pro’s charting tool helped identify the trend in NESR stock.
WaterBridge Infrastructure LLC (NYSE:WBI)
- On Sept. 28, Piper Sandler analyst Alexander Goldfarb assumed WaterBridge with an Overweight rating and announced a price target of $37. The company’s stock fell around 13% over the past month and has a 52-week low of $18.64.
- RSI Value: 29.9
- WBI Price Action: Shares of WaterBridge Infrastructure fell 0.1% to close at $28.13 on Thursday.
- Benzinga Pro’s signals feature notified of a potential breakout in WBI shares.
Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.
Photo via Shutterstock
