TipRanks utilized its Experts Center tool to identify the top five energy sector analysts of 2023 who have a high success rate. In compiling this list, TipRanks meticulously assessed all recommendations provided by analysts who covered energy stocks over the year.
The ranking indicates the analysts’ ability to generate returns from their recommendations. TipRanks’ algorithms computed the average return, the statistical significance of each rating, and the analysts’ overall success rate. Further, each rating was measured over three months.
Top 5 Energy Sector Analysts for 2023
#1 Scott Hanold – RBC Capital
Scott Hanold topped the list. Hanold had a success rate of 63% in 2023. His best rating was for Permian Resources (NYSE:PR), an independent oil & natural gas company. His Buy call on PR stock from July 14, 2023, to October 14, 2023, generated a solid return of 39.2%.
#2 Elvira Scotto – RBC Capital
Elvira Scotto was second on the list, with a success rate of 66%. Scotto’s top recommendation was Sunnova Energy International (NYSE:NOVA), a commercial and residential solar company. The analyst generated a profit of 37.5% through her Buy recommendation on NOVA stock from October 29, 2023, to January 12, 2024.
#3 Leo Mariani – Roth MKM
Leo Mariani ranked No. 3 on the list. Mariani’s success rate was 40% last year. His best rating was on Lanzatech Global (NASDAQ:LNZA), a carbon recycling company. His Buy rating on LNZA stock between May 11, 2023, and August 11, 2023, generated a stellar return of 104.5%.
#4 Travis Wood – National Bank
Travis Wood bagged the fourth spot. The analyst had a 48% overall success rate in 2023. Wood’s best recommendation was Ovintiv (NYSE:OVV), a North American exploration and production company. The analysts’ Buy call on OVV stock generated 27.4% return from June 29, 2023, to September 29, 2023.
#5 Dan Payne – National Bank
In fifth place was Dan Payne of National Bank. The analyst had an overall success rate of 49% last year. His top recommendation was for Anaergia (TSE:ANRG), a company that turns organic waste into renewable natural gas, fertilizer, and water. Through his Buy call on ANRG stock, Payne generated a return of 29.7% from May 15, 2023, to August 15, 2023.
Ending Thoughts
These top energy sector analysts have achieved notable returns through their stock selections. By keeping an eye on the recommendations of leading analysts, individual investors could outperform sector benchmarks. Further, by utilizing TipRanks’ platform, which assesses the recommendations of top experts, investors can make informed investment decisions.
