Yearender 2022: US energy stocks that gained over 100% YTD

Highlights:

• PBF Energy Inc. (NYSE: PBF) holds a dividend yield of 2.089 per cent.
• Peabody Energy Corporation’s (NYSE: BTU) revenue in Q3 2022 was US$ 1,342.5 million.
• Alpha Metallurgical Resources reported a net income of US$ 251.8 million.

In a year when most other sectors slumped steeply, the energy sector performed well. The energy sector remained the largest contributor to the S&P 500 in 2022. 

Several macroeconomic factors including the Russia-Ukraine war and high inflation kept investors confused throughout the year. However, there were some stocks that surged and we are looking at three US energy stocks that soared over 100 per cent in the year:

PBF Energy Inc. (NYSE: PBF)

Petroleum refiner PBF Energy holds a dividend yield of 2.089 per cent, while it paid a quarterly dividend of US$ 0.20 per share.

The US company that supplies unbranded transportation fuels, petrochemicals, heating oil, and lubricants has a P/E ratio of 1.90. Meanwhile, it has an EPS of 19.23.

PBF Energy’s third quarter 2022 income from operations was US$ 1,400 million.It posted a revenue of US$ 12.76 billion in the third quarter of fiscal 2022 compared to US$ 7.18 billion in the same period in the previous. The net income in Q3 2022 was reported at US$ 1.08 billion versus US$ 78.7 million.

Peabody Energy Corporation (NYSE: BTU)

Peabody Energy mines thermal coal and metallurgical coal. The thermal coal is sold to electric utilities, and the metallurgical coal is sold to industrial customers.

In the three months that ended September 30, 2022, Peabody earned an operating cash flow of US$ 494.7 million compared to US$ 4.4 million in the same quarter in 2021.

Meanwhile, the adjusted EBITDA in the third quarter of 2022 also soared by 50 per cent to US$ 439 million compared to the corresponding period in 2021.

The revenue in Q3 2022 was US$ 1,342.5 million compared to US$ 679 million in the year-ago quarter. Its net income (loss) in the reported quarter was US$ 383.6 million versus a loss of US$ 35.3 million in Q3 2021.

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Alpha Metallurgical Resources Inc. (NYSE: AMR)

Tennessee-based coal mining firm Alpha Metallurgical Resources has operations across Virginia. The company engages in underground, surface, and coal preparation plants.

With a dividend yield of 1.146 per cent, it paid a quarterly dividend of US$ 5.418 apiece. Alpha has an EPS of 78.39 with a P/E ratio of 1.80.

In Q3 2022, Alpha Metallurgical reported a net income of US$ 251.8 million or US$ 14.21 per diluted share from continuing operations. It reported an adjusted EBITDA of US$ 294.9 million compared to US$ 148.2 million. The operating cash flow in the third quarter of 2022 was US$ 497 million versus US$ 96 million.

Bottom line:

Although stocks performed better in a certain quarter in 2022, most failed to maintain consistency as the year was highly volatile. No sector or stocks were spared since the start of the year.

So, as an investor, always do your analysis before putting your money on any stock. The bearish sentiment in the market is prevalent. The central bank’s aggressive rate hikes have influenced the market in a big way this year. So, a long-term strategy might prevent losses in the short term.