5 Best Performing Energy Stocks in 2023

In this piece, we will take a look at the five best performing energy stocks in 2023. If you take a deeper look at the recent trends in the energy industry, then check out 12 Best Performing Energy Stocks in 2023.

5. Tidewater Inc. (NYSE:TDW)

Year To Date Share Price Gains: 107.01%

Tidewater Inc. (NYSE:TDW), as the name might suggest, is a support company that works with oil companies with offshore oil drilling platforms. Like several other support companies on our list, its shares are also rated Strong Buy on average, with Raymond James initiating coverage in July 2023 and setting a Strong Buy rating.

During Q2 2023, 35 out of the 910 hedge funds tracked by Insider Monkey were Tidewater Inc. (NYSE:TDW)’s investors. Todd J. Kantor’s Encompass Capital Advisors is the largest shareholder among these, owning 1.6 million shares that are worth $89 million.

4. Profire Energy, Inc. (NASDAQ:PFIE)

Year To Date Share Price Gains: 113.68%

Profire Energy, Inc. (NASDAQ:PFIE) is a small American company that specializes in providing burners to the oil and gas industry. The firm’s second quarter earnings saw it report $14.4 million in revenue for a 50% annual growth, and the stock is rated Buy on average.

Insider Monkey scoured through 910 hedge fund holdings for 2023’s second quarter and found that four had held a stake in Profire Energy, Inc. (NASDAQ:PFIE). The firm’s biggest hedge fund investor is Chuck Royce’s Royce & Associates as it owns $2.5 million worth of shares.

3. Vista Energy, S.A.B. de C.V. (NYSE:VIST)

Year To Date Share Price Gains: 118.23%

Vista Energy, S.A.B. de C.V. (NYSE:VIST) is a Mexican company headquartered in Mexico City, Mexico. It is a pure play energy company with oil and gas production resources in Latin America. The firm is busy expanding its production profile as it announced in July that two oil wells in Argentina have reached peak production among constraints.

By the end of June 2023, 30 hedge funds among the 910 that were part of Insider Monkey’s database had held a stake in the firm. Vista Energy, S.A.B. de C.V. (NYSE:VIST)’s biggest hedge fund investor is Rob Citrone’s Discovery Capital Management due to its $83.8 million stake.

2. Geospace Technologies Corporation (NASDAQ:GEOS)

Year To Date Share Price Gains: 203.46%

Geospace Technologies Corporation (NASDAQ:GEOS) is an American firm that helps oil and gas companies scan the ground for their next wells. The firm had a busy August 2023, when it won a new contract for vibration monitoring products and expanded its portfolio by adding a cable free ocean bottom recorder to its list of products.

During this year’s June quarter, four out of the 910 hedge funds polled by Insider Monkey had bought and owned Geospace Technologies Corporation (NASDAQ:GEOS)’s shares. Warren Isabelle’s Ironwood Investment Management owns the largest stake among these which is worth $310,070 and comes through 39,906 shares.

1. NGL Energy Partners LP (NYSE:NGL)

Year To Date Share Price Gains: 269.30%

NGL Energy Partners LP (NYSE:NGL) is a midstream energy company involved in storing and transporting petroleum fuels. Despite the fact that the firm has missed analyst EPS estimates in three out of its four latest quarters, the stock is up by a stunning 269% year to date.

Only one hedge fund out of. the 910 part of Insider Monkey’s database had bought the firm’s shares as of Q2 2023. This lone NGL Energy Partners LP (NYSE:NGL) investor is Phil Frohlich’s Prescott Group Capital Management and it owns a $338,000 stake.

Disclosure: None. You can also take a look at 13 Best Defense Stocks To Buy Now and 12 Best Places to Retire in Honduras.

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