5 Best Performing Energy Stocks in 2022

4. NexTier Oilfield Solutions Inc. (NYSE:NEX)

Number of Hedge Fund Holders: 32

YTD Share Price Gain as of December 27: 145.99%

NexTier Oilfield Solutions Inc. (NYSE:NEX) is a Texas-based provider of well completion and production services in various active and demanding basins. The company operates through two segments, Completion Services, and Well Construction and Intervention Services. It is one of the best performing energy stocks in 2022, with shares up 146% year-to-date as of December 27. 

On December 9, Raymond James analyst James Rollyson initiated coverage of NexTier Oilfield Solutions Inc. (NYSE:NEX) with a Strong Buy rating and a $19 price target. A sustained period of underinvestment, paired with growing energy transition challenges, set up the present oil supply situation, for “which there is no short term fix,” the analyst told investors.

According to Insider Monkey’s data, 32 hedge funds were bullish on NexTier Oilfield Solutions Inc. (NYSE:NEX) at the end of September 2022, compared to 30 funds in the prior quarter. Stephen Feinberg’s Cerberus Capital Management is the biggest position holder in the company, with 27.4 million shares worth $192.75 million. 

Here is what Aristotle Capital Management Small Cap Equity has to say about NexTier Oilfield Solutions Inc. (NYSE:NEX) in its Q1 2022 investor letter:

“NexTier Oilfield Solutions (NYSE:NEX), a provider of hydraulic fracturing and other completion-oriented oilfield services to exploration and production companies in the U.S., benefited from rising U.S. completion activity and rising prices due to tight supply/demand fundamentals for frac equipment. We maintain a position, as we believe the company’s dedicated service agreements, solid execution and merger synergies from recent mergers and acquisitions activity can unlock additional value for shareholders in periods to come.”