Tremendous gains in 2022 have come from these five stocks. 

This last month was the best for the S&P 500 since 2020. The continuously rising inflation, aggressive interest rate rises by the Federal Reserve, and geopolitical confrontation between Russia and Ukraine that had been causing concern have been mitigated by a better-than-expected second-quarter earnings season.

Among firms with market capitalizations of at least $1 billion that trade on major U.S. exchanges, these are the five most outstanding performers in 2022. 

Target Hospitality (TH) 

This year’s oil and gas boom is an opportunity for Target Hospitality to profit unorthodoxly. Temporary housing for oil and gas drilling, huge events, mining, government agencies, and disaster assistance are just some of the uses for which this company’s products are put to good use. The stock has been trending all year upward, but July has seen most of its gains.

Target’s announcement of a new federal contract on July 8 prompted a 53% increase in the company’s sales projection for 2022, sending the stock price soaring by more than 31%. Target stock has been up 177.8% since the new deal was announced on July 6 and is up 286.2% so far in 2022. 

Occidental Petroleum Company (ticker: OXY) 

The U.S. oil and gas firm Occidental Petroleum is the sole large-cap stock to crack the top 10 market performance list for 2022. This is because Occidental has not only benefited from the increase in oil prices but also received a massive vote of confidence from a prominent Wall Street investor.

With the acquisition of 181.7 million shares of Occidental in 2022, Warren Buffett’s Berkshire Hathaway Inc. (BRK.A, BRK.B) has amassed a roughly $12 billion investment. Berkshire Hathaway Inc., Buffett’s company, owns about 84 million shares in Occidental and has warrants to acquire an additional 19 million shares. Year-to-date, OXY shares have increased by 127.7 percent. 

Scorpio Tankers (STNG) 

Tanker rates skyrocketed after Russia’s invasion of Ukraine, and Scorpio has taken advantage of the favorable market by cutting its debt by $511 million in the first half of 2022. As a result, the corporation’s pro forma cash on hand has also grown, from $231m in 2018 to $592m in 2022. Second-quarter revenue from ships was $405 million, up from $165 million a year before.

Tanker rates will remain strong due to a combination of factors, including surging demand for refined products, interruptions in the supply chain, and unusually low stockpiles. Year-to-date, Scorpio shares have increased by 204.3%. 

Consol Energy (CEIX) 

Consol Energy in the Appalachian Basin mines coal. Energy costs have risen sharply since Russia’s invasion of Ukraine, which has been good for Consol and other coal companies. As of the end of Q1, Consol’s revenue had increased by 4.7%, as announced in May. Also, Consol paid down approximately $39 million in debt, increased its unrestricted cash reserves by over $70 million, and created $118 million in free cash flow.

During the quarter, Consol’s Marine Terminal business brought in a record $21.4 million in revenue. The company also announced that its Itmann preparation facility will commence operations in the second half of 2022. There has been a roughly 170% increase in the value of Consol shares so far this year. 

PBF Energy, Inc. (PBF) 

PBF Energy, an independent refiner, produces gasoline, diesel, and other refined products. PBF has used the improving energy market to strengthen its financial position in recent quarters, decreasing its consolidated debt by more than $2.6 billion over the previous 18 months. In 2022, diesel prices will have soared by almost 45%, while gasoline prices will have risen by around 31%. In addition, PBF announced a second-quarter sales increase of 104% in July.

As a result, PBF has halted its dividend as of March 2020. However, shareholders should anticipate the company to resume the dividend payment as it continues to strengthen its financial position. To this point in the year, PBF Energy stock has increased by 157.1%. 

NexTier Oilfield Solutions Inc. (NEX)

NEX, an energy services firm, has seen its stock price rise in 2022 with the rest of the energy sector, thanks to growing oil and gas prices. The stock price increased by almost 20% in early January when the company updated its financial outlook for Q4, and it has continued to rise ever since. In July, NexTier announced Q2 sales of $843 million, marking the seventh consecutive quarter of at least a 25% sequential increase.

According to CEO Robert Drummond, the availability of hydraulic fracturing fleets will continue to be a limiting factor in oil and natural gas output in the United States until at least next year. Year-to-date, NEX shares have increased by 180.8%.

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