Top 3 best-performing stocks in the S&P 500 this year
- Oil companies outperformed in 2022 as the prices of oil remained elevated
- Occidental Petroleum's stock price more than doubled in 2022
- Besides the capital gains, investors benefited from dividend payments
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With only one month left until the end of the year, investors’ attention turns to the holiday season in front of us. Sure enough, plenty of economic events lie ahead, such as the Federal Reserve’s December decision, but investors are unlikely to take any more risk in the week ahead.
The main US stock market indices bounced from their 2022 lows. But which companies have outperformed?
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Three names stand out of the crowd: Occidental Petroleum, EQT Corporation, and Hess Corporation.
Occidental Petroleum (NYSE:OXY) is an American company active in the oil and gas industry. It operates with a gross profit margin of 67.56%, and it largely benefited from higher oil prices throughout the year.
The stock price is up +126.27%, a remarkable performance considering the S&P 500’s negative YTD performance. Moreover, Occidental Petroleum pays a quarterly dividend.
EQT Corporation (NYSE:EQT) saw its stock price rising +97.20% YTD. This is another company involved in the oil and gas exploration and production industry, founded in 1878.
The YoY EPS rose by over +350%, and are forecast to more than double in the next twelve months. Moreover, EQT operates with a gross profit margin of 79.99%, higher than the sector median by 94.19%.
At the current stock market price, EQT Corporation’s market capitalization has reached $15.79 billion, and the Enterprise value exceeds $20 billion.
Hess Corporation (NYSE:HES)’s stock price gained +88.51% YTD. Unsurprisingly, this is just another oil and gas exploration and production company.
Higher oil prices increased the profitability of players in the industry, and investors anticipating it at the start of the trading year sit on huge gains. Hess also pays a quarterly dividend, with the payout ratio being 22.21%.