In 2022, the stock market is off to a rough start. Fears about persistently high inflation, aggressive interest rate hikes by the Federal Reserve, and a geopolitical conflict between Russia and Ukraine have caused the S&P 500 to drop 13.3% by the end of May. A few top-performing stocks have gone against the trend, which is good news for investors.
Here are the 10 best-performing stocks of major U.S. companies with market capitalizations of at least $1 billion so far in 2022. All dividends paid through May 31 are included in the return.
10. Tidewater Inc. (ticker: TDW)
Tidewater provides offshore energy assistance and transportation. Tidewater has benefited from rising energy prices since Russia invaded Ukraine. First-quarter sales at Tidewater grew 26.6% in May. Tidewater’s average active fleet grew by six boats in the quarter, and its average daily rate was $10,687, its highest since the fourth quarter of 2020. Year-to-date, Tidewater shares are up 137.6%.
9. Comstock Resources Inc. (CRK)
Comstock Resources is a company that looks for and makes natural gas. It focuses on the Haynesville shale gas area in East Texas. In May, Comstock said that its first-quarter sales grew by 54.1%, its operating cash flow grew by 44.1%, and it had paid off $85 million in debt. Shares of Comstock have gone up by 138.6% so far this year.
8. Occidental Petroleum Corp. (OXY)
Occidental Petroleum is a U.S. corporation. In addition to increased oil prices, Occidental gained a crucial vote of confidence from a Wall Street investor. Warren Buffett’s Berkshire Hathaway Inc. (BRK.A, BRK.B) bought 143 million Occidental shares in 2022 for $9.9 billion. OXY is up 139% this year.
7. Nutex Health Inc. (NUTX)
Nutex Health provides health treatment using technology. Nutex combined with health management startup Clinigence in April. Following the uplisting announcement, the shares soared from under $4 to $52.80 in early April. Since then, the stock has fallen to under $10, yet it’s still up 142.2% in 2022.
6. Antero Resources Corp. (AR)
Antero Resources is a North American oil and gas exploration and production firm focused on Marcellus and Utica shale development. In the first quarter, the business recorded $360 million in adjusted net income, repurchased $100 million in shares, and redeemed $585 million in 2025 senior notes. Year-to-date, Antero shares are up 145%.
5. Sierra Oncology Inc. (SRRA)
Sierra Oncology is developing momelotinib for anemia-related myelofibrosis. GSK PLC (GSK) announced a $1.9 billion takeover of Sierra at $55 per share in early April. Sierra shares closed in May at $54.78 with limited upside. Sierra’s year-to-date stock gains of 151.9 percent make it one of 2022’s top performers.
4. PBF Energy Inc. (PBF)
PBF Energy refines gasoline, diesel, and other fuels. PBF has improved its balance sheet in recent quarters, repaying $390 million in debt over the past 15 months. PBF’s first-quarter revenue grew 85.6% in April. PBF may restore its dividend, which is suspended in March 2020, if it continues to repair its balanced position. Year-to-date, PBF Energy shares are up 155.9%.
3. Scorpio Tankers Inc. (STNG)
Scorpio Tankers’ ocean tankers transport refined petroleum products worldwide. When Russia invaded Ukraine, tanker rates soared, and Scorpio plans to reduce its debt by $513 million in 2022. The company expects higher tanker rates to produce $450 million in pro forma liquidity by the end of the second quarter. First-quarter sales rose 29.7%. Scorpio stock is up 158% this year.
2. Alpha Metallurgical Resources Inc. (AMR)
Alpha Metallurgical Resources is from Tennessee. In the past year, coal prices rose 251%, higher than crude oil (69%) and natural gas (169%). Alpha announced 1Q revenue growth of 177.5% and net income growth of 1,317.4%. This growth has boosted AMR stock by 164.9 percent this year.
1. NexTier Oilfield Solutions Inc. (NEX)
NexTier Oilfield Solutions has risen with oil and gas prices in 2022. NexTier’s first-quarter sales were $635 million, its fourth straight quarter with at least 25% sequential growth. NexTier’s CEO says frac capacity is nearly full, setting the company for free cash flow and profitable growth. Year-to-date, NEX stock is up 207 percent.