Top 4 Energy Stocks That May Rocket Higher In Q3

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.

Chesapeake Energy Corp CHK

• On July 22, Truist Securities analyst Neal Dingmann maintained Chesapeake Energy with a Buy and lowered the price target from $112 to $108. The company's stock fell around 4% over the past five days and has a 52-week low of $72.84.
• RSI Value: 28.39
• CHK Price Action: Shares of Chesapeake Energy gained 0.5% to close at $77.79 on Friday.
• Benzinga Pro's real-time newsfeed alerted to latest Chesapeake Energy news.

EQT Corp EQT    

• On July 23, EQT posted better-than-expected quarterly results. President and CEO Toby Z. Rice stated, “This week marked a significant milestone in the history of our company as we closed the acquisition of Equitrans, transforming EQT into America’s only large-scale, vertically integrated natural gas business. This combination creates a truly differentiated business model among the energy investment landscape, as EQT is now at the low end of the North American natural gas cost curve.” The company's stock fell around 5% over the past five days. It has a 52-week low of $32.07.
• RSI Value: 27.60
• EQT Price Action: Shares of EQT fell 0.2% to close at $34.31 on Friday.
• Benzinga Pro's charting tool helped identify the trend in EQT stock.

Indonesia Energy Corp Ltd INDO

• On July 16, Indonesia Energy issued an operational update and said it has completed the recording of 29 square kilometers of new 3D seismic at its 63,000 acre Kruh Block. The company's stock dipped around 23% over the past month and has a 52-week low of $2.03.
• RSI Value: 23.28
• INDO Price Action: Shares of Indonesia Energy gained 1% to close at $2.12 on Friday.
• Benzinga Pro's signals feature notified of a potential breakout in Indonesia Energy shares.

BP Prudhoe Bay Royalty Trust BPT

• On July 5, BP Prudhoe Bay Royalty Trust said unitholders will not receive a dividend payment for the quarter ended June 30, 2024. The company's shares lost around 25% over the past five days. The company's 52-week low is $1.54.
• RSI Value: 23.92
• BPT Price Action: Shares of BP Prudhoe Bay Royalty Trust fell 5.2% to close at $1.63 on Friday.
• Benzinga Pro's earnings calendar was used to track BPT upcoming earnings report.

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