Top 3 Energy Stocks That May Rocket Higher In October

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.

Mach Natural Resources LP (NYSE:MNR)

• On Sept. 22, Mach Natural Resources filed for mixed shelf of up to $250 million. The company's stock fell around 12% over the past month and has a 52-week low of $11.91.
• RSI Value: 27.3
• MNR Price Action: Shares of Mach Natural Resources fell 1.6% to close at $12.07 on Thursday.
• Edge Stock Ratings: 13.03 Momentum score with Value at 87.91.

Global Partners LP (NYSE:GLP)

• On Aug. 7, Global Partners posted weaker-than-expected results for the second quarter. Eric Slifka, President and CEO of Global Partners said, “We are pleased with the second-quarter performance of our retail, terminal, and wholesale liquid energy portfolio. The strategic acquisition of key terminals has expanded our reach, enhanced our market presence, and strengthened our foundation for delivering long-term value to unitholders.” The company's stock fell around 14% over the past month and has a 52-week low of $43.20.
• RSI Value: 25.8
• GLP Price Action: Shares of Global Partners fell 2.4% to close at $43.89 on Thursday.
• Benzinga Pro’s charting tool helped identify the trend in GLP stock.

SM Energy Co (NYSE:SM)

• On Oct. 9, RBC Capital analyst Scott Hanold maintained SM Energy with a Sector Perform and raised the price target from $34 to $35. The company's stock fell around 21% over the past month and has a 52-week low of $19.67.
• RSI Value: 29.9
• SM Price Action: Shares of SM Energy fell 1.5% to close at $21.79 on Thursday.
• Benzinga Pro’s signals feature notified of a potential breakout in SM shares.

Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.

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