Top Oversold Stocks in Energy Sector: Investment Opportunities Arise

Identifying the most oversold stocks within the energy sector can be key for investors looking to capitalize on undervalued companies. These stocks, which have experienced significant declines, may represent promising entry points for buyers.

The Relative Strength Index (RSI) serves as a momentum indicator that compares a stock’s performance on days when prices rise to its performance on days when prices fall. When aligned with price action, it provides traders insight into potential future performance. An asset is generally considered oversold when its RSI is below 30, per Benzinga Pro.

Here is the latest list of major oversold stocks in the energy sector, featuring those with an RSI near or below 30.

Noble Corporation PLC NE

As of April 7, Barclays analyst Eddie Kim maintained an Overweight rating on Noble Corp while reducing the price target from $39 to $29. The company’s stock fell approximately 19% in the last five days, marking a 52-week low of $17.40.
RSI Value: 29.2
NE Price Action: Noble shares rose 5.4%, closing at $19.41 on Monday.
Benzinga Pro rates this stock with an 8.25 Momentum score and a Value score of 93.03.

Seadrill Ltd SDRL

Citigroup analyst Scott Gruber maintained a Buy rating on Seadrill as of March 19, lowering the price target from $46 to $35. The company’s stock has decreased about 20% over the past month, with a 52-week low of $18.25.
RSI Value: 27.3
SDRL Price Action: Shares of Seadrill increased by 4.4%, ending at $20.08 on Monday.
Benzinga Pro’s charting tools aided in recognizing the trend in Seadrill’s stock performance.

Nabors Industries Ltd NBR

On March 27, Morgan Stanley analyst Daniel Kutz retained an Overweight rating for Nabors Industries, lowering the price target from $115 to $75. The stock has decreased around 28% in just five days and has hit a 52-week low of $26.23.
RSI Value: 25.8
NBR Price Action: Shares of Nabors rose 3.1%, closing at $29.86 on Monday.
Benzinga Pro’s signals indicated a potential breakout for NBR shares.