Energy Stocks Tsakos Energy And Imperial Break Out To New Highs

Top energy stocks Tsakos Energy Navigation (TNP), Woodside Energy (WDS) and Imperial Oil (IMO) climbed to 52-week highs Friday as the energy sector holds strong. Tsakos and Imperial hit buy points, and Woodside gapped out of a base.

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Tsakos is a leading crude and liquefied natural gas (LNG) transporter. It operates a fleet of 70 tankers and is based in Athens, Greece.

The company posted a profit in its most recent quarter, breaking a string of quarterly losses. Sales growth is accelerating.

Tsakos broke out of a cup-with-handle base in heavy volume Friday. But gains faded and the stock fell below the 19.23 buy point. The relative strength line hit a new high as indicated by the blue dot on the MarketSmith chart.

IPO Energy Stock Breaks Out Of Base

Woodside Energy gapped above the 24.04 buy point of an irregular pattern. Shares were in buy range in afternoon trading. The Australia-based crude and LNG explorer went public on June 10.

The company has shown consistent triple-digit quarterly EPS and sales growth.

Imperial Oil broke out of a cup base with a 57.99 buy point but has pulled back below the entry. Its relative strength line hit a new high.

The company is offering a Dutch auction tender for up to $1.1 billion of common shares, or 3.4% of its shares outstanding, beginning today. Exxon Mobil (XOM) is a major shareholder in the company and plans to purchase shares.

The Canadian energy stock earns a high 98 Composite Rating and a 97 Relative Strength Rating.

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