In this article, we discuss the 5 oversold energy stocks you can buy. To read the detailed analysis of the energy industry, go directly to the 10 Oversold Energy Stocks You Can Buy.
5. IDACORP, Inc. (NYSE:IDA)
14-day RSI as of July 19: 38.58
IDACORP, Inc. (NYSE:IDA) is an Idaho-based energy company providing electric energy in the US. Most of the company’s electricity is generated through hydropower while the rest of it is comprised of coal, natural gas, and renewable sources. IDACORP, Inc. (NYSE:IDA) plans to achieve its 100% clean energy goal by 2045.
IDACORP, Inc. (NYSE:IDA) was a part of 14 investment portfolios in the first quarter of 2023. AQR Capital Management held 129,045 shares of the company worth $13.934 million, making it the most significant hedge fund holder of the company in Q1.
IDACORP, Inc. (NYSE:IDA) is the 5th most oversold stock on our list with a Relative Strength Index of 38.58.
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Follow Idacorp Inc (NYSE:IDA)
4. Exxon Mobil Corporation (NYSE:XOM)
14-day RSI as of July 19: 37.80
With a market cap of $414 billion, Exxon Mobil Corporation (NYSE:XOM) is the second largest oil and gas company in the world behind Saudi Aramco. As of July 19, the company has a 14-day Relative Strength Index of 37.80.
Exxon Mobil Corporation (NYSE:XOM) plans to build a lithium processing facility in Arkansas which is expected to produce 75,000 to 100,000 metric tons of lithium per year. If the facility manages to reach its production target, it will be producing 15% of all finished lithium produced in 2022.
Exxon Mobil Corporation (NYSE:XOM) has been covered by 16 Wall Street analysts in the last three months with 9 of them maintaining a Buy or Overweight rating. The average analyst price target for the company stands at $125.13, compared to Exxon Mobil Corporation (NYSE:XOM)’s $101.62 stock price at July 19 market close.
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Follow Exxon Mobil Corp (NYSE:XOM)
3. TC Energy Corporation (NYSE:TRP)
14-day RSI as of July 19: 36.56
TC Energy Corporation (NYSE:TRP) is a Canadian oil and gas midstream company. It is one of the largest pipeline companies in the world with a 93,300-kilometer network of natural gas pipelines and a 4900-kilometer-long crude oil pipeline network.
TC Energy Corporation (NYSE:TRP) is a company with one of the highest dividend yields in the energy sector. As of July 19, the company has a dividend yield of 7.25% compared to the energy sector’s average yield of 4.24%. TC Energy Corporation (NYSE:TRP) is expected to pay its next quarterly dividend of $0.7068 on July 31.
In Q1 2023, 11 hedge funds held TC Energy Corporation (NYSE:TRP)’s stock at a combined value of $55.058 million.
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Follow Tc Energy Corporation (NYSE:TRP)
2. Delek Logistics Partners, LP (NYSE:DKL)
14-day RSI as of July 19: 33.44
Delek Logistics Partners, LP (NYSE:DKL) manages the refining and marketing of crude oil. The company was incorporated in 2012 and is headquartered in Tennessee. Delek Logistics Partners, LP (NYSE:DKL) is a subsidiary of Delek US Holdings, Inc. (NYSE:DK) which is a downstream oil and gas company.
After a 258% stake increase in Delek Logistics Partners, LP (NYSE:DKL), Citadel Investment Group held 200 shares of the company worth $9,484. Ken Griffin’s hedge fund was the only stakeholder of the company in Q1 2023.
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Follow Delek Logistics Partners Lp (NYSE:DKL)
1. Clearway Energy, Inc. (NYSE:CWEN)
14-day RSI as of July 19: 30.69
Clearway Energy, Inc. (NYSE:CWEN) was formerly known as NRG Yield, Inc. and changed its name in 2018. The company is a New Jersey-based utility company with 5,500 net megawatts of renewable energy facilities and 2,500 net megawatts of natural gas generation facilities. Clearway Energy, Inc. (NYSE:CWEN) tops our list of most oversold energy stocks with a 14-day RSI of 30.69 as of July 19.
Clearway Energy, Inc. (NYSE:CWEN) has been increasing its dividend for the last four years and has a dividend yield of 5.5% as of July 19. In its first-quarter earnings report, the company mentioned that it plans to achieve a 5%-8% annual dividend growth through 2026 and plans to maintain an 80%-85% long-term payout ratio. Clearway Energy, Inc. (NYSE:CWEN) paid out its last quarterly dividend on Jun 15, 2023.
Follow Clearway Energy Inc. (NYSE:CWEN)
Follow Clearway Energy Inc. (NYSE:CWEN)
You can also look at the 15 African Countries With the Most Beautiful Women and the 12 Best Performing Bank Stocks in 2023.
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