What Correction? These 3 Stocks Have Doubled in 2022
The S&P 500 index is down roughly 18% this year, as of this writing. Yet energy sector stocks, which have been underperforming for a long time, have risen significantly on the back of stronger oil prices.
Three top stocks that have risen dramatically this year include Occidental Petroleum (NYSE: OXY), PBF Energy (NYSE: PBF), and Helmerich & Payne (NYSE: HP). Let's discuss what's driving these stocks higher and if their rally will be sustained in the coming years.
After years of woes, things turned for the better for Occidental Petroleum this year. The oil and gas producer got hit severely as commodity prices collapsed soon after its merger with Anadarko in 2019. The merger wasn't done at the most favorable terms to begin with.
Source Fool.com