5 Best Performing Energy Stocks in 2022

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1. Occidental Petroleum Corporation (NYSE:OXY)

Number of Hedge Fund Holders: 74

YTD Share Price Gain as of December 27: 107.98%

Occidental Petroleum Corporation (NYSE:OXY) is one of the best performing energy stocks of 2022, with share price gains of 108% year-to-date as of December 27. The company engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, Africa, and Latin America. Occidental Petroleum Corporation (NYSE:OXY) is set to pay a $0.13 per share quarterly dividend on January 17, 2023 to shareholders of record on December 12. 

On December 7, Barclays analyst Jeanine Wai maintained an Overweight rating on Occidental Petroleum Corporation (NYSE:OXY) but trimmed the firm’s price target on the shares to $74 from $84 following the Q3 results.

According to Insider Monkey’s data, Occidental Petroleum Corporation (NYSE:OXY) was part of 74 hedge fund portfolios at the end of Q3 2022, compared to 66 in the last quarter. Occidental Petroleum Corporation (NYSE:OXY)’s largest stakeholder is Warren Buffett’s Berkshire Hathaway, with 194.35 million shares worth nearly $12 billion as of the end of September 2022. 

Here is what Smead Value Fund has to say about Occidental Petroleum Corporation in its Q3 2022 investor letter:

“Our top-performing stocks in the quarter include Occidental Petroleum (NYSE:OXY). Oil and gas have been the best game in the stock market town this year and it was a pleasant surprise to see home builders pick up even with dour news on interest rates and the economy. For the first three quarters of the year, we should change the name of our fund to the Jed Clampett Fund. Occidental Petroleum (NYSE:OXY), was one of the standouts. Up through the bear market came a “bubblin’ crude!”

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