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.
San Juan Basin Royalty Trust (NYSE:SJT)
- On Sept. 7, San Juan Basin Royalty Trust reached a settlement agreement with Hilcorp for $1.04 million. The company's stock fell around 25% over the past month and has a 52-week low of $4.93 .
- RSI Value: 28.71
- SJT Price Action: Shares of San Juan Basin Royalty Trust gained 2% to close at $5.13 on Thursday.
Hallador Energy Company (NASDAQ:HNRG)
- On Nov. 6, Hallador Energy posted downbeat quarterly earnings. Brent Bilsland, President and Chief Executive Officer, stated, "High coal sales prices coupled with large coal shipment volumes lead to record coal revenue. Our well-contracted sales book supported our revenue growth despite operational challenges, increasing our cost per ton during the quarter." The company's stock fell around 28% over the past month. It has a 52-week low of $6.87.
- RSI Value: 22.44
- HNRG Price Action: Shares of Hallador Energy fell 0.6% to close at $8.95 on Thursday.
Permianville Royalty Trust (NYSE:PVL)
- On Dec. 18, Permianville Royalty Trust reported monthly operational update. The company's stock fell around 25% over the past month and has a 52-week low of $1.46.
- RSI Value: 27.98
- PVL Price Action: Shares of Permianville Royalty Trust fell 1.4% to close at $1.46 on Thursday.
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