The following energy stocks (NYSE:NBL, NYSE:CLR and NYSE:COG) are oversold as their Relative Strength index (RSI) is below 30. Indeed, the RSI is one of the most popular technical indicators and is computed on the basis of the speed and direction of a stock’s price movement, generally in a 14-day window. The RSI value will always move between 0 and 100; the value will be 0 if the stock falls on all 14 days, and 100, if the price moves up on all the days. This implies that the RSI can also be used to identify the overbought/oversold levels. Most technical analysts consider the RSI value above 70 as ‘overbought zone’ and below 30 as ‘oversold zone’.
Noble Energy Inc (NYSE:NBL)(Trend analysis) relative strength index stands at 26.02. Noble Energy Inc (NYSE:NBL) stock is currently trading 48.89% below its 52-week-high, 0.88% above its 52-week-low. The 1-year stock price history is in the range of $38.72 – $76.43. Noble Energy Inc (NBL) has a price to earnings ratio of 14.77 versus Basic Materials sector average of 36.68. Noble Energy Inc is currently valued at $14.45 billion. The stock has a 50-day moving average of $43.59 and a 200-day moving average of $46.64.
There are currently thirty-four analysts that cover Noble Energy Inc stock. Of those thirty-four, seventeen have a Buy rating, seventeen have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $54.19.
The stock closed last trading session at $39.06, down by -0.64%.
Continental Resources Inc (NYSE:CLR)(Trend analysis) relative strength index is at the level of 29.2. The company’s shares were traded at $37.36, down by -1.86%, with a volume of 3,398,804 shares against an average volume for the last 3 months of 2,961,890. This represents a volume multiple of 1.15.
Continental Resources Inc (CLR) current short interest stands at 15.37 million shares. It has remained stable from the same period of last month. Around 19% of the company’s shares, which are float, are short sold. With a 10-days average volume of 4.87 million shares, the number of days required to cover the short positions stand at 3.2 days.
A recent stock analyst activity consisted of Deutsche Bank reiterating their Hold stance on June 4. Deutsche Bank increased their price target on CLR from $54 to $55.
Cabot Oil & Gas Corp (NYSE:COG)(Trend analysis) relative strength index is evolving around the 10 level. The stock closed last trading session at $29.3, down by -0.95%, with a volume of 3,721,004 shares compared to an average volume for the last 3 months of 5,218,680. The year-to-date performance of the stock stands at -2.61%.
Cabot Oil & Gas Corp (COG) current short interest stands at 22.97 million shares. It has increased by 22% from the same period of last month. Around 6% of the company’s shares, which are float, are short sold. With a 10-days average volume of 3.86 million shares, the number of days required to cover the short positions stand at 6 days.