In this article, we will look at the 5 best-performing S&P 500 Stocks in 2022. If you want to explore similar stocks, you can also look at 10 Best-Performing S&P 500 Stocks in 2022.
5. Marathon Oil Corporation (NYSE:MRO)
Year to Date Return as of September 15: 58.86%
Number of Hedge Fund Holders: 41
Marathon Oil Corporation (NYSE:MRO) is on the rise in 2022 and is trading at a bargain right now. As of September 15, the stock has a trailing twelve-month PE ratio of 6.35 and has gained 58.86% year to date. Moreover, Marathon Oil Corporation (NYSE:MRO) has free cash flows of $3.45 billion and the stock is offering a forward dividend yield of 1.17%, as of September 15.
Wall Street analysts see upside to Marathon Oil Corporation (NYSE:MRO). On July 22, Piper Sandler analyst Mark Lear raised his price target on Marathon Oil Corporation (NYSE:MRO) to $41 from $38 and maintained an Overweight rating on the shares. On August 18, Mizuho analyst Vincent Lovaglio revised his price target on Marathon Oil Corporation (NYSE:MRO) to $32 from $34 and reiterated a Buy rating on the shares.
At the end of Q2 2022, 41 hedge funds were bullish on Marathon Oil Corporation (NYSE:MRO). These funds held collective stakes of $1.26 billion in the company.
As of June 30, Fisher Asset Management owns more than 8 million shares of Marathon Oil Corporation (NYSE:MRO) and is the most prominent investor in the company. The investment covers 0.13% of Ken Fisher’s 13F portfolio.
Here is what Carillon Tower Advisers had to say about Marathon Oil Corporation (NYSE:MRO) in its “Carillon Clarivest Capital Appreciation Fund” first-quarter 2022 investor letter:
“Stock selection contributed the most while sector allocation was also positive. An underweight to communication services and an overweight to energy helped performance, while an underweight to consumer staples and an overweight to materials detracted. Stock selection was strong within healthcare and materials but was weak within information technology and industrials. Marathon Oil (NYSE:MRO) increased its quarterly dividend and executed an impressive share buyback that blew by the target it originally announced.”
4. Hess Corporation (NYSE:HES)
Year to Date Return as of September 15: 62.72%
Number of Hedge Fund Holders: 35
Hess Corporation (NYSE:HES) is a crude oil and natural gas exploration and production company. The company has two business divisions: Exploration & Production, and Midstream. At the end of Q2 2022, 35 hedge funds were long Hess Corporation (NYSE:HES) and held stakes worth $1.18 billion in the company.
On July 27, Hess Corporation (NYSE:HES) announced earnings for the second quarter of fiscal 2022. The company reported earnings per share of $2.15 and generated a revenue of roughly $3 billion, up 87% year over year, and outperformed Wall Street estimates by $384.5 million.
Hess Corporation (NYSE:HES) is among the best-performing S&P 500 stocks in 2022. As of September 15, the stock has returned 62.72% to investors year to date.
On August 31, Barclays analyst Jeanine Wai revised her price target on Hess Corporation (NYSE:HES) to $146 from $149 and reiterated an Overweight rating on the shares.
As of June 30, Fisher Asset Management owns 4.4 million shares of Hess Corporation (NYSE:HES) and is the leading shareholder in the company. The investment covers 0.33% of Ken Fisher’s 13F portfolio.
3. Enphase Energy, Inc. (NASDAQ:ENPH)
Year to Date Return as of September 15: 69.25%
Number of Hedge Fund Holders: 53
On September 6, Enphase Energy, Inc. (NASDAQ:ENPH) announced the expansion of its global partnership BayWa, a leading global developer and distributor of solar photovoltaic modules. Under the terms of the agreement, BayWa will distribute Enphase Energy, Inc.’s (NASDAQ:ENPH) IQ series microinverters and batteries in Germany and Benelux.
On July 26, Enphase Energy, Inc. (NASDAQ:ENPH) announced strong earnings for the second quarter of fiscal 2022. The company reported earnings per share of $1.07 and beat estimates by $0.22. The company’s revenue for the quarter grew 67.75% year over year and amounted to $530.2 million, ahead of Wall Street expectations by $24.79 million. As of September 15, Enphase Energy, Inc. (NASDAQ:ENPH) has gained 69.25% year to date.
On August 11, KeyBanc analyst Sophie Karp raised her price target on Enphase Energy, Inc. (NASDAQ:ENPH) to $363 from $230 and maintained an Overweight rating on the shares.
At the close of the second quarter of 2022, 53 hedge funds disclosed ownership of stakes in Enphase Energy, Inc. (NASDAQ:ENPH) worth $1.14 billion. This is compared to 57 hedge funds in the previous quarter with stakes worth $749.49 million.
As of June 30, Coatue Management is the largest investor in Enphase Energy, Inc. (NASDAQ:ENPH) and owns roughly 1.36 million shares of the company.
Here is what ClearBridge Investments had to say about Enphase Energy, Inc. (NASDAQ:ENPH) in its first-quarter 2022 investor letter:
“Enphase Energy (NASDAQ:ENPH) is a key solar holding that should be able to take advantage of greater incentives for solar installations in many geographies. The company was also a strong contributor for the quarter, overcoming pressures of a higher discount rate on their strong projected future earnings, raw material inflation and supply chain challenges as their long-term value was reaffirmed.”
2. Constellation Energy Corporation (NASDAQ:CEG)
Year to Date Return as of September 15: 106.67%
Number of Hedge Fund Holders: 43
Constellation Energy Corporation (NASDAQ:CEG) is a leading American utility company. The company has five business divisions: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. At the close of Q2 2022, 43 hedge funds were long Constellation Energy Corporation (NASDAQ:CEG) and held stakes worth $1.20 billion in the company. This is compared to 47 hedge funds in the previous quarter with stakes worth $1.12 billion.
Wall Street is bullish on Constellation Energy Corporation (NASDAQ:CEG). On August 8, KeyBanc analyst Sangita Jain raised her price target on Constellation Energy Corporation (NASDAQ:CEG) to $87 from $70 and reiterated an Overweight rating on the shares. On August 18, Morgan Stanley analyst Stephen Byrd raised his price target on Constellation Energy Corporation (NASDAQ:CEG) to $95 from $64 and maintained an Overweight rating on the shares.
Shares of Constellation Energy Corporation (NASDAQ:CEG) have gained 106.67% year to date, as of September 15.
As of June 30, Southpoint Capital Advisors owns 3 million shares of Constellation Energy Corporation (NASDAQ:CEG) and is the largest shareholder in the company. The fund’s stakes are valued at $171.78 million.
1. Occidental Petroleum Corporation (NYSE:OXY)
Year to Date Return as of September 15: 109.56%
Number of Hedge Fund Holders: 66
On August 2, Occidental Petroleum Corporation (NYSE:OXY) delivered market-beating earnings for the second quarter of fiscal 2022. The company reported earnings per share of $3.16 and beat Wall Street estimates by $0.14. The company grew its revenue by 78.6% year over year and generated a revenue of $10.7 billion for the quarter, beating market consensus by $962 million. As of September 15, the stock has gained 109.56% year to date.
On September 6, Morgan Stanley analyst Devin McDermott raised his price target on Occidental Petroleum Corporation (NYSE:OXY) to $76 from $70 and reiterated an Equal Weight rating on the shares. On September 12, Piper Sandler analyst Ryan Todd revised his price target on Occidental Petroleum Corporation (NYSE:OXY) to $92 from $93 and maintained an Overweight rating on the shares.
At the end of the second quarter of 2022, 66 hedge funds were bullish on Occidental Petroleum Corporation (NYSE:OXY) and held stakes worth $13.75 billion in the company. This is compared to 67 positions in the previous quarter with stakes worth $12.61 billion.
As of June 30, Berkshire Hathaway is the largest shareholder in Occidental Petroleum Corporation (NYSE:OXY) and owns more than 158.5 million shares of the oil giant. The investment covers 3.11% of Warren Buffett’s 13F portfolio.
Here is what Smead Capital Management had to say about Occidental Petroleum Corporation (NYSE:OXY) in its second-quarter 2022 investor letter:
“For the quarter, our best-performing stocks were Continental Resources (CLR), Merck (MRK) and Occidental Petroleum Corporation (NYSE:OXY). Despite a steep sell-off in June in the oil and gas stocks, two of our oil stocks made the quarterly list.
If you are wondering how we are outperforming the S&P 500 Index in the first half of the year, look no further than our top three performers. Occidental Petroleum (OXY), Continental Resources (CLR) and Conoco Phillips (COP) soared in value and were barely represented in the S&P 500 Index. To quote Jerry Jones, owner of the Dallas Cowboys, “We are in the first quarter on higher energy prices!””
You can also take a look at 13 Stocks that Best Performing Hedge Funds are Piling Into and 10 Highest Sharpe Ratio Dividend Stocks in the S&P 500.
