Top 5 Energy Stocks That Could Blast Off In March

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.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Enviva Inc. EVA

• Enviva entered agreements with board members and insiders for the issuance and sale of $250 million of equity securities. The company’s stock has a 52-week low of $33.58 .
• RSI Value: 25.96
• EVA Price Action: Shares of Enviva dropped 1.3% to close at $33.97 on Thursday.

Texas Pacific Land Corporation TPL

• Texas Pacific Land Trust posted downbeat quarterly results. "For the full year 2022, TPL achieved record results across both of our operating segments, record consolidated adjusted EBITDA, and record earnings per share," said Tyler Glover, Chief Executive Officer of the Company. The company’s stock has a 52-week low of $1,240.69.
• RSI Value: 29.72
• TPL Price Action: Shares of Texas Pacific Land fell 1.5% to close at $1,749.06 on Thursday.

U.S. Energy Corp. USEG

• U.S. Energy reported a 24% increase to year-end 2022 proved producing reserves. “U.S. Energy was successful in 2022 executing on our stated acquisition strategy of opportunistically adding significant reserves while maintaining an excellent balance sheet,” said Ryan Smith, U.S. Energy’s Chief Executive Officer. The company’s stock has a 52-week low of $1.91.
• RSI Value: 25.46
• USEG Price Action: Shares of U.S. Energy fell 1.9% to close at $2.07 on Thursday.

Granite Ridge Resources, Inc. GRNT

• Granite Ridge Resources announced a quarterly cash dividend of $0.11 per share of common stock. The company’s 52-week low is $5.25.
• RSI Value: 29.16
• GRNT Price Action: Shares of Granite Ridge Resources fell 2% to close at $5.45 on Thursday.

Talos Energy Inc. TALO

• Talos Energy reported worse-than-expected Q4 results. Talos President and Chief Executive Officer Timothy S. Duncan said, "2022 was full of milestones for Talos. We used our meaningful free cash flow generation to pay our revolver borrowings to zero at year-end." The company has a 52-week low of $12.69.
• RSI Value: 27.69
• TALO Price Action: Shares of Talos Energy fell 3.9% to close at $14.45 on Thursday.

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