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 24% over the past month and has a 52-week low of $5.30 .
- RSI Value: 21.55
- SJT Price Action: Shares of San Juan Basin Royalty Trust fell 0.7% to close at $5.46 on Wednesday.
U.S. Energy Corp. (NASDAQ:USEG)
- On Nov. 13, U.S. Energy posted a loss for the third quarter. The company's stock fell around 20% over the past month. It has a 52-week low of $0.83.
- RSI Value: 25.82
- USEG Price Action: Shares of U.S. Energy gained 3.8% to close at $0.9550 on Wednesday.
Drilling Tools International Corp. (NASDAQ:DTI)
- On Nov. 13, the company reported a decline in EPS for the third quarter. The company's stock fell around 12% over the past month and has a 52-week low of $3.25.
- RSI Value: 25.72
- DTI Price Action: Shares of Drilling Tools International fell 0.9% to close at $3.27 on Wednesday.
Permian Basin Royalty Trust (NYSE:PBT)
- The company's shares lost around 22% over the past month. The company's 52-week low is $14.41.
- RSI Value: 23.68
- PBT Price Action: Shares of Permian Basin Royalty Trust fell 0.5% to close at $14.72 on Wednesday.
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