In this article, we are going to discuss the energy stocks that are gaining this week.
The energy sector has outperformed the broader market so far this year, with gains of 2.7% against the general market’s surge of 1.48%. This comes after a disappointing 2024 when the energy sector lagged significantly behind gains of 25% by the wider market.
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As the world gets hungry for more and more energy, the International Energy Agency has forecasted the world’s electricity consumption to rise at its fastest pace in recent years, growing at close to 4% annually through 2027. The uptick can be mainly attributed to a surge in industrial production, increased demand for air conditioning, accelerating electrification, primarily by the transport sector, and the rapid expansion of data centers.
Electricity demand in the United States, the second-largest consumer in the world after China, is to grow at an average annual rate of about 2% over the period 2025-2027, driven by the strong demand growth from the data center sector.
Other sectors, including natural gas, also stand to benefit tremendously from the ongoing AI boom and the accompanying data centers, as several dozen new gas-fired power plants are expected to be built in the US in the next few years. According to data from S&P Global Commodity Insights, if even a quarter of the projected data center load is supplied by gas-fired generation, this would translate to a 2% increase in total US gas demand in 2040, providing some much-needed respite to a sector that has faced a series of challenges over the last year.
With that said, here are the Energy Stocks that Have Surged the Most this Week.
Methodology
To collect data for this article, we have referred to several stock screeners to find energy stocks that have surged the most between February 14 to February 24, 2025. Following are the Energy Stocks that are Gaining the Most This Week.
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10. Drilling Tool International Corporation (NASDAQ:DTI)
Share Price Gains Between Feb. 14 – Feb. 24: 3.14%
Since 1984, Drilling Tools International Corporation (NASDAQ:DTI) has been a leading provider of downhole tools to the land and offshore drilling markets. The company updated its estimated 2024 full-year financial outlook on February 20 in which it indicated that it expects its 2024 revenue to be at the high end of previously disclosed guidance of $145 million-$155 million. DTI also expects its 2024 Adjusted Net Income to be above the high-end of previously disclosed guidance of $7.7 million – $9.8 million and its adjusted free cash flow to be more than double the prior year period.
Moreover, Drilling Tools International Corporation (NASDAQ:DTI) announced last month that it has completed the acquisition of Titan Tools Services, a UK-based downhole tool rental company. This move is an important step towards DTI’s global expansion and strengthens its position in the North Sea and in European and African markets.
9. EOG Resources, Inc. (NYSE:EOG)
Share Price Gains Between Feb. 14 – Feb. 24: 3.34%
EOG Resources, Inc. (NYSE:EOG) is one of the largest crude oil and natural gas exploration and production companies in the United States with proved reserves in the US and Trinidad. Shares of the company surged earlier this month after it received an upgraded stock rating from RBC Capital Markets, moving from Sector Perform to Outperform, with a price target of $155, up from $150. The upgrade was attributed to EOG’s sustained strong operational performance, its exposure to rising natural gas prices, and the potential for significant stock buybacks.
EOG Resources, Inc. (NYSE:EOG) is known for its robust balance sheet and increasing shareholder returns. The company boosted its share buyback program by $5 billion at the end of Q3 2024 after beating profit estimates and stated that it would raise its debt balance to a range of $5 to $6 billion in the next 12 to 18 months, which would make additional cash available for investor payouts.