5 Oversold Energy Stocks You Can Buy Right Now

1. EQT Corporation (NYSE:EQT)

14-day RSI: 35.24

Number of Hedge Fund Holders: 40

EQT Corporation (NYSE:EQT) is an American energy company primarily focusing on natural gas. In the fourth quarter of 2023, the company stock was owned by 40 hedge funds at a combined value of $1.06 billion. On top of that, the company has a 14-day RSI of 35.24 at the time of writing on March 13. EQT Corporation (NYSE:EQT) takes the top spot on our list of oversold energy stocks.

On March 11, EQT Corporation (NYSE:EQT) announced its plan to repurchase Equitrans Midstream Corporation (NYSE:ETRN), a company it had spun off in 2018, in a $5.5 billion stock deal. The announcement sparked controversy among investors which led to a major sell-off. However, the company’s CEO Toby Z. Rice disagrees with the general sentiment and said that it is “the most strategic and transformational transaction EQT has ever pursued.”

EQT Corporation (NYSE:EQT) was mentioned by ClearBridge Investments in its Q2 2023 investor letter. Here is what it said:

“The energy sector was another positive contributor, primarily driven by our investment in EQT Corporation (NYSE:EQT). As North America’s leading natural gas provider, EQT had seen its share price slide as the lackluster reopening of China and a milder-than-expected winter in the northern hemisphere weighed on natural gas prices. However, as recessionary fears have given way to optimism and the prospect for greater energy demand, EQT’s share price has rebounded. While we continue to expect volatility in commodities prices, we believe that global energy demand, especially in Europe, along with the company’s leadership position in the natural gas market, make it a strong long-term compounder for the portfolio.”

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