5 Best Performing Energy Stocks Right Now

In this piece, we will take a look at the five best performing energy stocks right now. If you want to learn more about the recent trends in the energy industry, then check out 10 Best Performing Energy Stocks Right Now.

5. Enerflex Ltd. (NYSE:EFXT)

Number of Q4 2023 Hedge Fund Shareholders: 7

One Month Share Price Gain: 22.12%

Enerflex Ltd. (NYSE:EFXT) is a Canadian energy company headquartered in Calgary, Alberta, Canada. It provides power generation, compression, and other equipment used by energy companies. February 2024 is an important month for the firm since it has seen a management shakeup and the appointment of a new chief financial officer.

As of Q4 2023 end, seven out of the 933 hedge funds covered by Insider Monkey’s research had invested in Enerflex Ltd. (NYSE:EFXT).

4. Kodiak Gas Services, Inc. (NYSE:KGS)

Number of Q4 2023 Hedge Fund Shareholders: 15

One Month Share Price Gain: 22.79%

Kodiak Gas Services, Inc. (NYSE:KGS) is another gas compression company headquartered in The Woodlands, Texas. It operates on a contract infrastructure model, allowing different clients to use its machinery. Ahead of its earnings call in February, the firm was out with some good news for investors as it announced that unitholders had moved forward with its acquisition bid by CSI Compresso.

Insider Monkey’s December quarter of 2023 survey of 933 hedge funds revealed that 15 had invested in Kodiak Gas Services, Inc. (NYSE:KGS).

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

Number of Q4 2023 Hedge Fund Shareholders: 13

One Month Share Price Gain: 24.87%

Vista Energy, S.A.B. de C.V. (NYSE:VIST) is a utility company based in Austin, Texas. It provides power to customers in more than a dozen American states. The firm was out with a strong set of financial results for 2023 in February 2024, when it revealed that net income for the year sat at $1.49 billion.

By the end of last year’s fourth quarter, 13 out of the 933 hedge funds covered by Insider Monkey’s survey were the firm’s shareholders. Rob Citrone’s Discovery Capital Management was Vista Energy, S.A.B. de C.V. (NYSE:VIST)’s biggest investor through its $85 million stake.

2. NuStar Energy L.P. (NYSE:NS)

Number of Q4 2023 Hedge Fund Shareholders: 1

One Month Share Price Gain: 26.17%

NuStar Energy L.P. (NYSE:NS) is a midstream oil and gas company headquartered in San Antonio, Texas. Its shares are rated Strong Buy on average, but the average share price target of $48.11 is lower than the current price.

During 2023’s December quarter, just one hedge fund out of the 933 polled by Insider Monkey could count itself as a NuStar Energy L.P. (NYSE:NS) shareholder. This investor is Ken Griffin’s Citadel Investment Group as it owns 185,537 shares that are worth $3.4 million.

1. Prairie Operating Co. (NASDAQ:PROP)

Number of Q4 2023 Hedge Fund Shareholders: N/A

One Month Share Price Gain: 32.93%

Prairie Operating Co. (NASDAQ:PROP) operates primarily in the energy industry even though it’s classified as financial services in screeners. The firm is involved in developing oil and gas properties that are primarily located in Colorado and Wyoming’s DJ Basin. Most U.S. oil exploration focuses on the Southern Permian basin, leaving the region concentrated with mega players.

As a result, alternate sites such as the DJ Basin could end up becoming future oil hotspots. This is also evidenced by Chevron’s interest in the region that has seen the oil giant share that not only does the DJ Basin account for 90% of Colorado’s oil production, but it also expects to produce 400,000 barrels of oil daily after yet another acquisition.

As for Prairie Operating Co. (NASDAQ:PROP), the firm grew its DJ Basin operations in February 2024 when it announced that it had bought drilling locations and units from a private seller at a price tag of $900,000. The firm’s assets are located in DJ Basin’s most productive region, Weld County. The deal followed a pricey $94.5 million deal in January that sought to add over two dozen production wells in the firm’s portfolio in Weld County, and as of late February 2024, Prairie Operating Co. (NASDAQ:PROP)’s drilling inventory currently sits at 70 wells should the acquisitions close by the end of the first half.

Disclosure: None. The author received no additional compensation for this piece over what is typically made by Insider Monkey. You can also take a look at 25 Fastest Growing Real Estate Markets in the World and 11 Best Brewery and Distillery Stocks to Buy Now.

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