1. Innovex International, Inc. (NYSE:INVX)
YTD Share Price Gains as of Feb. 28: 26.54%
Topping our list of the Best Performing Energy Stocks is Innovex International, Inc. (NYSE:INVX), a Houston-based company established in 2024 following the merger of Dril-Quip and Innovex Downhole Solutions.
Innovex International, Inc. (NYSE:INVX) had a strong Q4 2024, increasing its revenue by 65% QoQ to $251 million. The company also reported a net income of $32 million and an operating cash flow of $36 million during the quarter, allowing it to authorize a $100 million share buyback program. Key strategic moves during the quarter also included the acquisition of Downhole Well Solutions and SCF Machining Corp, aimed at further increasing margins and supply chain flexibility. Moreover, INVX has announced the intended divestiture of Dril-Quip’s 128-acre Eldridge facility, an important step to improve margins, efficiency, and returns on invested capital.
Innovex International, Inc. (NYSE:INVX) achieved its merger cost synergy target of $30 million in only five months after closing the merger and continues to focus on organic growth and expanding its market presence through strategic partnerships. Just last month, INVX announced the signing of a strategic frame agreement with SLB OneSubsea for the supply of subsea wellhead systems.
Overall, Innovex International, Inc. (NYSE:INVX) ranks first on our list of the best performing energy stocks so far in 2025. While we acknowledge the potential for INVX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than INVX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stock To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap
Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.
