Last Updated, Dec 29, 2022, 6:04 PM
Stocks are headed for their worst year since 2008, but some names doubled or more in 2022
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Stocks may be careening toward their worst year since 2008, but some names are completing a remarkable run after doubling or more in 2022. Concerns that the Federal Reserve’s aggressive action against inflation could tip the economy into a recession have increasingly weighed on markets this year. In 2022, the Dow Jones Industrial Average has lost 8.4%, while the S & P 500 shed 19.2%. Meanwhile, the Nasdaq is the biggest laggard, down about 33%. Even so, a review of companies with market caps between $500 million and under $1 billion surfaced the year’s biggest winners. These stocks are up more than 100% this year, and include tankers for petroleum products, energy companies such as coal firms, and biotech and pharmaceutical names, according to CNBC. Tankers were a leading sector in 2022, up about 152% including dividends as a group through Dec. 28, according to a December note from Stifel. Ardmore Shipping and Scorpio Tankers were the top tanker stocks, both up about 316% for the year. Energy companies came out on top in 2022 following a surge in oil and gas prices — which market participants say will remain elevated given expectations of tight supply ahead. The leading name in the S & P 500 this year is Occidental Petroleum . Shares of the oil and gas company are up roughly 116% in 2022, which means the stock is on pace for its best year going back to 1972. That year, shares rose more than 72%. The stock began trading in 1964. Shares of NexTier Oilfield Solutions are up about 160% this year. JPMorgan recently named the stock one of its top oilfield services picks for 2023, saying NexTier “should benefit from strong upstream spending growth in both International and NAM markets, the potential shifts to shareholder friendly capital returns frameworks in coming quarters, and strong execution in the field.” Even coal companies such as CONSOL Energy and Peabody Energy were up 182% and 167% this year, respectively. Meanwhile, a slew of biotech and pharmaceutical companies outperformed this year. Shares of Prometheus Biosciences were up 178% in 2022, and was recently named a top pick by SVB Securities in its 2023 outlook for immunology and metabolism equities. SVB’s Thomas Smith wrote in a December note that the company has a “unique precision medicine platform” for autoimmune diseases. Here is the full list, with prices as of about 1:00 p.m. ET Thursday: Shipping: Ardmore Shipping (ASC) up 316% YTD Scorpio Tankers (STNG) up 316% YTD Tidewater (TDW) up 230% YTD Teekay Tankers (TNK) up roughly 175% YTD International Seaways (INSW) up 151% YTD Hospitality: Target Hospitality (TH) up 323% YTD Energy: PBF Energy (PBF) up over 213% YTD NexTier Oilfield Solutions (NEX) up about 160% YTD Helix Energy (HLX) up 133% YTD Occidental (OXY) up 115% YTD on pace for its best year ever back through at least 1972 (OXY began trading in 1964) and next best year is 1979 when OXY gained 72.22% Helmerich & Payne (HP) up over 109% YTD Talos Energy (TALO) up almost 90% YTD Patterson-UTI Energy (PTEN) up 100% YTD Coal: CONSOL Energy (CEIX) up 182% YTD Peabody Energy (BTU) up over 167% YTD Alpha Metallurgical Resources (AMR) up over 132% YTD Health Care/Biotech: TransMedics (TMDX) up 215% YTD Madrigal Pharma (MDGL) up over 236% YTD Prometheus Biosciences (RXDX) up over 178% YTD Catalyst Pharma (CPRX) up 176% YTD ADMA Biologics (ADMA) up 176% YTD Akero Therapeutics (AKRO) up over 149% YTD Aerovate Therapeutics (AVTE) up 140% YTD CTI BioPharma (CTIC) up 139% YTD Immunovant (IMVT) up 106% YTD Signify Health (SGFY) up 101% YTD (to be acquired by CVS) — CNBC’s Gina Francolla and Michael Bloom contributed to this report.
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