5 Best Performing Energy Stocks in 2022

In this article, we discuss 5 best performing energy stocks in 2022. If you want to see more stocks in this selection, check out 12 Best Performing Energy Stocks in 2022. 

5. Helmerich & Payne, Inc. (NYSE:HP)

Number of Hedge Fund Holders: 30

YTD Share Price Gain as of December 27: 94.03%

Helmerich & Payne, Inc. (NYSE:HP) was founded in 1920 and is headquartered in Tulsa, Oklahoma. It provides drilling services and solutions for exploration and production companies. The company operates through three segments – North America Solutions, Offshore Gulf of Mexico, and International Solutions. With shares up 94% year-to-date as of December 27, Helmerich & Payne, Inc. (NYSE:HP) is one of the best performing energy stocks this year. Despite missing FQ4 earnings expectations, analysts appreciated the company’s growing margins and commitment to return cash to shareholders.

On November 18, RBC Capital analyst Keith Mackey raised the price target on Helmerich & Payne, Inc. (NYSE:HP) to $68 from $63 and reiterated an Outperform rating on the shares. The analyst noted that the company’s Q4 results largely matched its pre-released numbers and he expects margin expansion from progressing day rates and contract rollover in a tight North American rig market. He added that the international expansion by Helmerich & Payne, Inc. (NYSE:HP) also has the potential to move estimates higher in later years.

According to Insider Monkey’s data, Helmerich & Payne, Inc. (NYSE:HP) was part of 30 hedge fund portfolios at the end of September 2022, compared to 26 in the prior quarter. Ken Fisher’s Fisher Asset Management held the biggest position in the company, with 1 million shares worth $37.4 million.