The head of Praetorian Capital, Harris Kupperman, sees 2023 differently, which is why he has made such interesting claims while entering 2023.
He claimed that the tech sector, which has driven the majority of sales this year, will struggle in 2023 and be sold off.
Moreover, the energy sector stocks will boom and see massive price hikes. His second prediction became a reality as the market announced that the supply of crude oil would be on the rise for 2023.
On the other hand, some of the biggest energy sector companies are also experiencing growth in their stock prices.
The recent shift if the momentum in the energy sector shakes the outlook of the market. Experts are now voicing that new trends and predictions are needed to be made for 2023.
However, some investors, including Kupperman, are certain that the energy sector would be among the biggest gainers.
On the other hand, it has to be mentioned that Kupperman needed to be right about his oil price and energy sector. The S&P 500 was sitting at 1.75%, about 60% up for 2022 on December 29th.
This figure does not include dividends. However, this is only many ones of the sectors showing gains. However, the yield on the energy stocks was lower than it previously was.
Vicki Hollub, another Other Renowned Stock Expert, Also Voice His Opinion
Most recently, the CEO of OXY, Vicki Hollub, said in his interview that, as of now, the demand for gas is normal, and as a result, there is no pressure for increased production due to the high demand.
OXY was one of the best-performing energy stocks of 2022 listed on the S&P 500. The price of the stock is currently 50% up.
Given Below is the List of Best Performing Energy Stocks on the S&P 500 For 2023
- Exxon Mobil Corp. (XOM)
XOM has been ranked at the top of the list and is one of the biggest energy sector names. Currently, the price of XOM stock is up by 0.86%. Now buy sentiment on the stock is at 54%.
The stock price is expected to rise to $118.89 in 2023. For the next 12 months, the expected growth rate of XOM stock is 7.89%.
- Chevron Corp. (CVX)
Chevron Corp. Is another U.S.-based energy sector giant. Currently, the stock price is on the rise by 0.96%.
Experts are hopeful that over the next 12 months, the price of this stock will rise by 6.06%. As of this moment, the price of CVX is $179.63. The price is expected to go up by $190.52 in 2023.
As far as the buying sentiment of the share is concerned, it has a buying rating of 54%.
- Shell PLC (SHEL)
Shell is a famous oil company that operates worldwide. Currently, the SHEL market price is down by -0.02%. But investors are optimistic that the stock will replicate a strong comeback.
That is why its buying rating is 80%, higher than XOM and CVX. Currently, SHEL is exchanging hands at GBP23.67 in 2023. Its price is expected to rise by GBP29.82.
For the next 12 years, it has been expected that the price of SHEL will surge by 25.99%.
- TotalEnergies (TTE)
Another name on the list is TotalEnergies (TTE). Currently, the price of this stock is up by 0.53%. The French company is very strong in terms of its market sentiment.
The stock’s buy rating is 62%, which means the company has shown strong technical indicators. Moreover, it is expected that the price of TTE stock will rise by 8.00% over the next 12 months.
The current share price of TTE is Eur59.63, which is expected to go up to Eur64.40 in 2023.
These are the top four energy sector companies listed on S&P% with an average buying rating of over 50%. Experts do believe that the price of these shares will surge sky-high.
