Top 3 Energy Stocks That May Rocket Higher In July

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, according to Benzinga Pro.

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

TOP SHIPS Inc TOPS

• On May 2, TOP Ships announced commencement of time charter at very strong rate an increase of 36% over previous time charter. The company's stock fell around 17% over the past month and has a 52-week low of $5.51.
• RSI Value: 25.60
• TOPS Price Action: Shares of TOP SHIPS fell 0.9% to close at $11.04 on Tuesday.
• Benzinga Pro's real-time newsfeed alerted to latest TOPS news.

Opal Fuels Inc OPAL

• On June 7, B. Riley Securities analyst Ryan Pfingst maintained OPAL Fuels with a Buy and maintained a price target of $10. The company's stock fell around 18% over the past month. It has a 52-week low of $3.98.
• RSI Value: 26.98
• OPAL Price Action: Shares of Opal Fuels fell 2% to close at $3.99 on Tuesday.
• Benzinga Pro's charting tool helped identify the trend in Opal Fuels stock.

Vertex Energy Inc VTNR

• On May 9, Vertex Energy posted a wider-than-expected quarterly loss. Mr. Benjamin P. Cowart, Vertex’s Chief Executive Officer, stated, “We had a strong operational and financial quarter, as we maintained our commitment to operating safely and reliably. We saw an improved crack spread environment, which drove our Adjusted EBITDA higher by over $50 million compared to the fourth quarter of 2023. Additionally, we saw conventional throughput above our guidance and managed direct operating costs and capital expenditures below our guidance.” The company's stock fell around 42% over the past five days and has a 52-week low of $0.58.
• RSI Value: 24.75
• VTNR Price Action: Shares of Vertex Energy fell 21.8% to close at $0.61 on Tuesday.
• Benzinga Pro's signals feature notified of a potential breakout in Vertex Energy's shares.

Read More: Top 3 Risk Off Stocks Which Could Rescue Your Portfolio This Quarter