5 High Growth Energy Stocks to Buy

4. Cactus, Inc. (NYSE:WHD)

Latest YoY Quarterly Revenue Growth: 56.04%

Number of Hedge Fund Holders: 16

Houston, Texas-based Cactus, Inc. (NYSE:WHD) designs, manufactures, sells, and rents a range of highly engineered wellheads and pressure control equipment principally for onshore unconventional oil and gas wells. Its products are utilized during the drilling, completion (including fracturing) and production phases of wells.

On November 8, Cactus, Inc. (NYSE:WHD) released its financial results for Q3 2023. Its revenue increased by 56% y-o-y to $288 million, while net income surged by 64% y-o-y to $68 million. Its EPS of $0.80 missed consensus estimates by $0.07.

Following the earnings release, Barclays analyst David Anderson lowered the price target for Cactus, Inc. (NYSE:WHD) shares to $57 from $60 and maintained an ‘Overweight’ rating. The price target represents a potential upside of 29.46% based on the latest share price.

As of Q3 2023, 16 hedge funds owned Cactus, Inc. (NYSE:WHD) shares worth $149 million. Millennium Management and Citadel Investment Group were the leading hedge fund investors of the company with ownership of nearly 0.8 million shares each.