3 Growth Stocks up +30% in 2022

These three growth stocks are up over 30% in 2022 alone but have come down in the last few weeks to a more affordable price point.

| More on:

Even during today’s market correction, there are growth stocks out there up 30% right now and sometimes even higher. And no, these aren’t penny stocks that move a few cents and double in share price. These are strong companies that analysts continue to see as strong buys.

Today, I’m going to cover three of these growth stocks up over 30% in 2022.

Vermilion Energy: 39%

Vermilion Energy (TSX:VET)(NYSE:VET) is up 39% in 2022 alone. The company has seen a lot of growth thanks to the booming oil and gas sector, but that’s not the only reason analysts like the energy stock today.

Vermilion recently completed a $477 million acquisition of Leucrotta Exploration. However, the market didn’t respond how analysts expected. This continues to put it in a strong position for growth among already strong growth stocks.

Vermilion seems to have completed its merger and acquisition activity and now look for revenue growth, and it’s exactly the right time. Oil and gas prices continue to climb, creating a strong opportunity for investors — even with shares up 39%, given that they’ve dropped 29% from 52-week highs.

Obsidian Energy: 85%

Obsidian Energy (TSX:OBE)(NYSE:OBE) is up an astounding 85% in 2022 alone. However, this comes after a pullback from the company in recent days. Still, the performance during the last year or so has analysts wondering when investors will jump back on this company among growth stocks.

One analyst stated the company could be one of “the biggest turnaround stories as we emerge from the COVID-19 lows.” This comes from the company producing both light and heavy oil and taking in those increased prices. Further, it now has a massive increase in production, coming from an increase in acquisitions.

The company is in a similar position to Vermilion; it’s able to now rake in the cash from its acquisitions and see long-term growth — all during a time when oil and gas prices continue to climb. Shares are up 85% year to date, and down 38% from 52-week highs.

Suncor Energy: 35%

One of the most popular growth stocks in the past and today remains Suncor Energy (TSX:SU)(NYSE:SU). Suncor stock has been a strong performer in 2022 with the rise in oil and gas prices. It too went through acquisitions, but before the downturn. It quickly cut its dividend back in February 2020 and has since doubled it back. And now, with oil and gas prices up, investors remain confident of growth.

This comes from Suncor stock having a position as Canada’s largest fully integrated oil and gas company. It can keep bringing in cash from downstream and midstream operations, while also seeing use at his gas stations. There is no middle man, making cash come in a lot faster.

Shares are up 35% year to date, but down 21% from 52-week highs. And it remains a steal, trading at just 9.96 times earnings. Furthermore, you can lock in the dividend yield of 4.12% as of writing to bring in passive income, while you wait for Suncor stock to recover even more in the near future.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Amy Legate-Wolfe has no position in any of the stocks mentioned. The Motley Fool recommends VERMILION ENERGY INC.

More on Energy Stocks

bulb idea thinking
Energy Stocks

The Smartest Canadian Stock to Buy With $2,000 Right Now

The market is full of great investments, but there is only one that is truly the smartest Canadian stock to…

Read more »

Oil industry worker works in oilfield
Energy Stocks

This Energy Titan Paying 8.75% Is Practically Giving Money Away

Here's why you should consider Freehold Royalties.

Read more »

nuclear power plant
Energy Stocks

Where Will Cameco Be in 4 Years?

The uranium industry faces a long-term supply shortfall. Cameco will benefit once actions are taken to rectify this.

Read more »

Person holding a smartphone with a stock chart on screen
Energy Stocks

Here’s How Many Shares of Enbridge You Need to Get $5,000 in Annual Dividends

If you invest $5,000 per year in Enbridge (TSX:ENB) stock, here's how much you could earn in passive income.

Read more »

oil pump jack under night sky
Energy Stocks

2 Canadian Energy Stocks to Buy and Hold for Lifelong Income

These two energy stocks have been upgraded by analysts, and it's clear why.

Read more »

Silver coins fall into a piggy bank.
Energy Stocks

This Overlooked Energy Stock Down 43% is a Dividend Investor’s Dream

Peyto is a natural gas stock with a rapidly growing dividend, strong cash flows, and a strong position in the…

Read more »

oil pump jack under night sky
Energy Stocks

The Top Canadian Stock to Buy for Great Growth in 2025

This Canadian stock has a lot for investors to consider, especially after the approval of a major merger.

Read more »

TFSA (Tax-Free Savings Account) on wooden blocks and Canadian one hundred dollar bills.
Energy Stocks

Generate Passive Income: A $7,000 Dividend Stock Investment

An energy major is the ideal $7,000 dividend stock investment in 2025 to generate passive income.

Read more »