Top 5 Energy Stocks That May Fall Off A Cliff

The most overbought stocks in the energy sector presents an opportunity to go short on these overvalued 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 overbought when the RSI is above 70.

Here’s the latest list of major overbought players in this sector.

PHX Minerals Inc. (NYSE:PHX)

  • PHX Minerals posted upbeat quarterly earnings. Chad L. Stephens, President and CEO, commented, “PHX delivered record royalty volumes and solid profitability, despite the macro headwinds facing natural gas, demonstrating the benefits of our risk-mitigated minerals-only model.” The company’s stock has a 52-week high of $4.39 .
  • RSI Value: 77.24
  • PHX Price Action: Shares of PHX Minerals gained 8.9% to close at $3.42 on Friday.

StealthGas Inc. (NASDAQ:GASS)

  • StealthGas posted better-than-expected quarterly earnings. CEO Harry Vafias commented, “We are reaping the fruits of the favourable market conditions and our sound business strategy and execution. After having reported in the previous quarter record annual profits, it is with great pleasure that we announce this time the highest quarterly profit in at least the last decade.” The company’s stock has a 52-week high of $3.75.
  • RSI Value: 74.77
  • GASS Price Action: Shares of StealthGas gained 8.3% to close at $3.39 on Friday.

SEACOR Marine Holdings Inc. (NYSE:SMHI)

  • SEACOR Marine announced contemplated bond issue. The company has a 52-week high of $11.60.
  • RSI Value: 74.99
  • SMHI Price Action: Shares of SEACOR Marine rose 4.4% to close at $10.42 on Friday.

California Resources Corporation (NYSE:CRC)

  • California Resources posted upbeat quarterly earnings. “We’re off to a great start this year with strong quarterly free cash flow driven by operational execution and natural gas markets in California, which underscores the quality of our asset portfolio and commodity diversification strategy,” said Francisco Leon, President and Chief Executive Officer. The company’s 52-week high is $51.46.
  • RSI Value: 70.71
  • CRC Price Action: Shares of California Resources gained 3.6% to close at $44.32 on Friday.

NextDecade Corporation (NASDAQ:NEXT)

  • NextDecade announced it has entered into framework agreements with Global Infrastructure Partners and TotalEnergies to support the development of the Rio Grande LNG project. The company has a 52-week high of $8.95.
  • RSI Value: 72.55
  • NEXT Price Action: Shares of NextDecade fell 0.9% to settle at $8.00 on Friday.

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