These energy stocks are trading in overbought territory as Q2 earnings picks pace

Energy stocks are drawing investor attention as the second-quarter earnings season gathers momentum this week, with traders assessing whether recent gains have left some names vulnerable to profit-taking.

Several companies across the sector are now trading with elevated Relative Strength Index readings, reflecting strong upward price momentum ahead of earnings reports and management guidance.

Leading the list is Calumet, Inc. (CLMT) with an RSI of 86, well into overbought territory. HF Sinclair Corporation (DINO) follows with an RSI of 83, while PBF Energy Inc. (PBF), Delek US Holdings, Inc. (DK) and Par Pacific Holdings, Inc. (PARR) each post RSI readings of 81.

Marathon Petroleum Corporation (MPC) also has an RSI of 80, while Phillips 66 (PSX) and Valero Energy Corporation (VLO) follow with RSI readings of 76 and 74. Permian Resources Corporation (PR) and Plains All American Pipeline, L.P. (PAA) round out the top 10 with RSIs of 69.

The Relative Strength Index is a momentum indicator that measures the speed and magnitude of recent price movements on a scale of 0 to 100. Traditionally, an RSI above 70 suggests a stock may be overbought, while a reading below 30 indicates it may be oversold after an extended period of selling.

While an overbought RSI does not necessarily signal an imminent pullback, investors often monitor such stocks for potential changes in momentum, particularly around earnings announcements that can reshape market expectations.

Here is the list:

1. Calumet, Inc. (CLMT), RSI: 86

2. HF Sinclair Corporation (DINO), RSI: 83

3. PBF Energy Inc. (PBF), RSI: 81

4. Delek US Holdings, Inc. (DK), RSI: 81

5. Par Pacific Holdings, Inc. (PARR), RSI: 81

6. Marathon Petroleum Corporation (MPC), RSI: 80

7. Phillips 66 (PSX), RSI: 76

8. Valero Energy Corporation (VLO), RSI: 74

9. Permian Resources Corporation (PR), RSI: 69

10. Plains All American Pipeline, L.P. (PAA), RSI: 69

Energy ETFs: (XLE), (AMLP), (VDE), (XOP), (OIH), and (IXC)