5 Most Expensive Energy Stocks You Should Worry About

The most overbought stocks in the energy sector presents an opportunity to go short on these overvalued 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 overbought when the RSI is above 70.

Here’s the latest list of major overbought players in this sector.

HighPeak Energy, Inc. HPK

• HighPeak Energy announced it initiated a strategic alternative process, including a potential sale. The company’s stock has a 52-week high of $38.21 .
• RSI Value: 81.58
• HPK Price Action: Shares of HighPeak Energy gained 5.5% to settle at $28.40 on Tuesday and added 1.1% in after-hours trading.

PBF Energy Inc. PBF

• Morgan Stanley recently maintained PBF Energy with an Equal-Weight and raised the price target from $40 to $50. The company’s stock has a 52-week high of $49.00.
• RSI Value: 70.58
• PBF Price Action: Shares of PBF Energy gained 2.9% to close at $45.08 on Tuesday and added 1.2% in after-hours trading.

Marathon Petroleum Corporation MPC

• Marathon Petroleum is scheduled to host a conference call on January 31, 2023, to discuss Q4 2022 earnings results. The company has a 52-week high of $130.74.
• RSI Value: 76.70
• MPC Price Action: Shares of Marathon Petroleum rose 2.6% to close at $130.21 on Tuesday and lost 0.1% in after-hours trading.

Seadrill Limited SDRL

• BWS Financial recently initiated coverage on Seadrill with a Buy rating and announced a price target of $50. The company’s 52-week high is $41.49.
• RSI Value: 83.90
• SDRL Price Action: Shares of Seadrill rose 2% to close at $40.87 on Tuesday.

Valero Energy Corporation VLO

• Morgan Stanley recently maintained its Overweight rating of Valero Energy and raised its price target from $140.00 to $170.00. The company has a 52-week high of $160.16.
• RSI Value: 74.41
• VLO Price Action: Shares of Valero Energy rose 1.4% to settle at $145.03 on Tuesday and lost 0.2% in after-hours trading.

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