Energy stocks had a rough year in 2020. Oil prices went negative for a brief moment and demand is down because people are traveling less during the pandemic.
To make matters worse, the transition from fossil fuels to renewable energy continues in the electricity sector, leaving coal in the dust. As the energy industry has dealt with a pandemic and macro trends, there are a few companies that may end up going bankrupt relatively soon. Peabody Energy (NYSE: BTU), Transocean (NYSE: RIG), and Occidental Petroleum (NYSE: OXY) could be some of the biggest names to fall.