Top 3 Energy Stocks Which Could Rescue Your Portfolio In June
Portfolio Pulse from Avi Kapoor
The article highlights three oversold energy stocks with RSI values near or below 30, indicating potential buying opportunities. The stocks mentioned are Nabors Industries Ltd (NBR), Delek US Holdings Inc (DK), and Exxon Mobil Corp (XOM).
June 18, 2024 | 12:42 pm
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POSITIVE IMPACT
Nabors Industries Ltd (NBR) announced an amendment and restatement of a $475 million credit facility. The stock fell 22% over the past month and has an RSI of 29.33, indicating it is oversold.
The amendment of the credit facility could stabilize the company's financials, and the oversold RSI suggests a potential rebound. The recent 1.5% rise in stock price supports this outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Exxon Mobil Corp (XOM) had its lawsuit against Arjuna Capital dismissed. The stock fell 4% over the past five days and has an RSI of 29.21, indicating it is oversold.
The dismissal of the lawsuit removes a legal overhang, and the oversold RSI suggests a potential rebound. The stock's recent performance indicates it may be poised for recovery.
CONFIDENCE 88
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Delek US Holdings Inc (DK) received a Neutral rating from Piper Sandler with a lowered price target from $30 to $25. The stock fell 15% over the past month and has an RSI of 25.02, indicating it is oversold.
The Neutral rating and lowered price target suggest limited upside in the short term. However, the oversold RSI could attract some buyers looking for undervalued stocks.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100