In case you are planning to invest in the US stock market, you’ll definitely be interested to know what the top performing stocks were this year. Although these keep changing in any market, it does help to have one eye on the best performers each year.
Here are the best performers of 2022. The information given below holds true as December 1, 2022.
Founded in 1978 and headquartered in Texas, Target Hospitality provides lodging for workforce and other temporary modular housing. The company’s stock had a bullish run throughout the year, with major gains in the early half of July. This steep rise followed the announcement of a new government contract that the company bagged in early July.
Overall, Target Hospitality Corporation’s stock price rose by over 300% this year.
Scorpio Tankers is a relatively young tanker shipping company that was founded in 2009 and is headquartered in Monaco. Throughout the past year, the company’s share prices steadily rose from around $12 per share to over $50 per share. Tanker prices witnessed an increase during the year due to the war between Russia and Ukraine. Furthermore, Scorpio Tankers also reduced its debt this year.
Between January and December 2022, the company’s stock price rose by over 250%.
This American energy company was founded way back in 1864 and is headquartered in Pennsylvania. The company is one of the best performing shares today in the US stock market. With energy prices rising in 2022, the company has seen an impressive increase in its bottom line this year. This is one of the key reasons the company’s share price rose overall during the year, from around $23 to over $70.
The total increase in the stock price of Consol Energy during 2022 exceeds 200%.
TransMedics is a company that was incorporated a little before the turn of the millennium, in 1998. This healthcare stock company is headquartered in Massachusetts, United States, and it specializes in organ transplants. The company also recorded a massive revenue jump in its third quarter, adding to its stock market performance.
During the period from January 2022 to December 2o22, its stock price rose by around 200%.
Another energy company that has made it to the list of the top performing stocks in the US markets this year, Peabody Energy Corporation was founded way back in 1883 and is headquartered in Missouri, United States. The company is one of the largest coal producers in the world today, and this year, it reported a revenue increase of around 97% and a free cash flow exceeding $460 million in Q3.
Following such big numbers, it’s no wonder that the company’s stock price rose this year by over 160%.
Teekay Tankers is headquartered in both Canada and Bermuda. The company has been in the tanker business since 2007. In 2022, it has benefited from the rise in tanker rates across the globe, and as a result, has recorded a net profit of $68 million in Q3 of 2022 as opposed to a net loss of $52 million in Q3 of 2021. Its tanker rates also rose from the range of $10,000 to $11,000 to the range of $36,000 to $40,000.
These favorable developments have resulted in a stock price increase of around 150% during 2022.
PBF Energy is an independent refiner of petroleum products. The company also supplies unbranded transportation fuels, lubricants, heating oils, and other petroleum products to its clients. Like many other companies on this list, PBF Energy also recorded good numbers in Q3, with a revenue boost of nearly 80%.
The year 2022 was a good one for the company’s stocks, which rose by around 135%.
International Seaways straddles is one of the largest tanker companies in the world. It provides transportation services for crude oil and petroleum products. The company’s stock price was bullish throughout the year, with a noticeable increase from July onward. In Q3 this year, the company recorded a profit of $113.4 million as opposed to the loss of $67.4 million recorded in Q3 2021.
Positive developments like these have resulted in a stock price increase of over 145% in 2022.
This should give you a better idea of which companies or categories performed better than the others.
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Over the course of history, many big stock price increases have been recorded. One such notable single-day price change was recorded in July 2015, when Google added a total of $52 billion in its market capitalization.
The answer to this keeps changing on a daily basis because stock prices are volatile rather than fixed. Instead of focusing on one single stock, it is a better idea to track the top performing shares in the US markets, which include Occidental Petroleum Corporation, EQT Corporation, Hess Corporation and Marathon Petroleum Corporation, among others.