Oversold Energy Stocks to Watch: Mach Natural Resources, Global Partners, and SM Energy

Three energy stocks that may rocket higher in October are Mach Natural Resources LP (MNR), Global Partners LP (GLP), and SM Energy Co (SM). These stocks have an RSI near or below 30, indicating they are oversold and may rebound in the short term. MNR has filed for a mixed shelf of up to $250 million and has a 52-week low of $11.91. GLP posted weaker-than-expected results for Q2 and has a 52-week low of $43.20. SM Energy has a 52-week low of $19.67 and recently received a Sector Perform rating with a price target increase from $34 to $35.

Investors are keeping a close eye on the energy sector, with several stocks showing signs of potential rebound in the coming months. Three energy companies, Mach Natural Resources LP (MNR), Global Partners LP (GLP), and SM Energy Co (SM), are particularly notable due to their low Relative Strength Index (RSI) values, indicating they may be oversold and poised for a short-term upturn.

Mach Natural Resources LP (MNR)

Mach Natural Resources LP, an independent upstream oil and gas company, has filed for a mixed shelf of up to $250 million, according to a Benzinga article. The company's stock has fallen around 12% over the past month and has a 52-week low of $11.91. Despite these recent declines, the company's RSI value is currently at 27.3, suggesting it may be oversold and ripe for a rebound. Additionally, the company recently announced a quarterly dividend of $0.38, equating to an annualized yield of 12.4%, according to a MarketBeat alert.

Global Partners LP (GLP)

Global Partners LP, which focuses on retail, terminal, and wholesale liquid energy, posted weaker-than-expected results for the second quarter. The company's stock has fallen around 14% over the past month and has a 52-week low of $43.20. Despite the recent decline, GLP's RSI value is at 25.8, indicating potential oversold conditions. The Benzinga article also noted the company's strategic acquisition of key terminals has expanded its market presence and strengthened its foundation for delivering long-term value to unitholders.

SM Energy Co (SM)

SM Energy Co, a midstream and downstream energy company, has seen its stock fall around 21% over the past month and has a 52-week low of $19.67. The company recently received a Sector Perform rating with a price target increase from $34 to $35 from RBC Capital analyst Scott Hanold, as noted in the Benzinga article. SM Energy's RSI value is currently at 29.9, suggesting it may be oversold and poised for a rebound.

Conclusion

While these stocks have shown signs of recent weakness, their low RSI values indicate potential oversold conditions. Investors should closely monitor these stocks for any signs of a rebound in the coming months. However, it is essential to conduct thorough research and consider other factors before making investment decisions.