Top 5 Energy Stocks That Could Blast Off This Quarter
Portfolio Pulse from Lisa Levin
The article lists the top 5 oversold energy stocks with potential for growth this quarter, based on their low Relative Strength Index (RSI) values. Ranger Energy Services (RNGR), DMC Global (BOOM), Kimbell Royalty Partners (KRP), RPC Inc. (RES), and W&T Offshore (WTI) are highlighted as having RSI values near or below 30, indicating they may be undervalued. The article provides recent performance details and stock price actions for each company.
November 29, 2023 | 12:26 pm
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POSITIVE IMPACT
DMC Global elected a new independent director and has a 52-week low of $14.82 with an RSI of 28.21. Shares dropped 2.9% recently.
The election of a new director is a positive sign, and the low RSI may indicate the stock is due for a price correction upwards.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Kimbell Royalty Partners reported lower than expected Q3 earnings, with a 52-week low of $13.85 and an RSI of 28.24. Shares fell 1.5% recently.
Despite the earnings miss, the record production and low RSI could attract investors looking for undervalued energy stocks.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
RPC reported weaker-than-expected Q3 results, with a 52-week low of $6.54 and an RSI of 29.33. Shares declined 2.8% recently.
The low RSI indicates potential undervaluation, but the poor quarterly results could delay any immediate recovery in the stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ranger Energy Services reported lower than expected Q3 revenue and FY23 guidance, with a 52-week low of $9.27 and an RSI of 26.07. Shares fell 0.6% recently.
The low RSI suggests the stock is oversold and may rebound, but recent poor financial performance could temper short-term gains.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
W&T Offshore reported lower than expected Q3 earnings, with a 52-week low of $3.25 and an RSI of 29.49. Shares rose 0.3% recently.
Despite the earnings miss, the increase in commodity pricing and operational excellence could drive investor interest, supported by the low RSI.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80