Top 5 Energy Stocks That May Rocket Higher This Quarter

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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.

ProFrac Holding Corp. ACDC

  • ProFrac Holding posted downbeat Q4 results. Matt Wilks, ProFrac's Executive Chairman, stated, "I am extremely pleased with our company's commitment and hard work that continues to generate improved operational efficiencies and financial growth as we scale the business. We believe our vertically integrated business model positions ProFrac to reduce market volatility and deliver more consistent profitability throughout the cycle." The company’s stock has a 52-week low of $10.15.
  • RSI Value: 22.53
  • ACDC Price Action: Shares of ProFrac Holding gained 0.5% to close at $11.09 on Friday.

Uranium Energy Corp. UEC

  • Kerrisdale Capital recently issued a short report on the stock. The company’s stock has a 52-week low of $2.36.
  • RSI Value: 29.46
  • UEC Price Action: Shares of Uranium Energy gained 0.4% to close at $2.73 on Friday.

Bristow Group Inc. VTOL

  • Bristow Group posted weaker-than-expected quarterly results. "With the recent contract wins in our Government Services line and a stronger oil and gas market, the fundamentals for Bristow's business are improving significantly in 2023," said Chris Bradshaw, President and CEO of Bristow Group. The company’s stock has a 52-week low of $20.20.
  • RSI Value: 28.07
  • VTOL Price Action: Shares of Bristow Group rose 1.3% to close at $21.00 on Friday.

National Energy Services Reunited Corp. NESR

  • NESR secured nine-year wireline platform contract in Saudi Arabia. The company’s 52-week low is $4.52.
  • RSI Value: 23.15
  • NESR Price Action: Shares of National Energy Services Reunited gained 1.3% to close at $4.87 on Friday.

Tutor Perini Corporation TPC

  • Tutor Perini reported worse-than-expected Q4 results. "Our results included record operating cash flow despite a continued lack of large new Civil segment awards due, in part, to impacts of the COVID-19 pandemic and customer budgetary constraints. We currently have significant pending awards that are not yet reflected in our backlog, but, if successfully awarded, are expected to increase current backlog by more than $3 billion later this year," said Ronald Tutor, Chairman and Chief Executive Officer. The company has a 52-week low of $5.40.
  • RSI Value: 28.08
  • TPC Price Action: Shares of Tutor Perini rose 0.5% to close at $5.90 on Friday.

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