Key points
- The Origin share price has surpassed its 52-week high 6 times in the last fortnight
- Its also gained 10% since the final close of 2021
- However, its underperforming against many of its energy sector peers
The Origin Energy Ltd (ASX: ORG) share price has been on top of its game so far this year, having already gained 10% since the final close of 2021.
The boost has also seen the company’s stock hitting a new 52-week high 6 times. Its latest 12-month record was broken during yesterday’s session.
As of Wednesday’s close, the Origin share price is $5.78.
Let’s take a look at what might be moving the energy producer’s stock in the new year.
What’s boosting the Origin share price in 2022?
2022 is shaping up to be a good year for the Origin share price. That’s despite no news having been released by the company.
In fact, the last time the market received a price-sensitive announcement from the S&P/ASX 200 Index (ASX: XJO) energy provider was on 20 December. Then, it announced its $42 million acquisition of WINconnect.
Still, having started the year with a 52-week high of $5.48, the Origin share price’s 12-month high point has now been pushed to $5.84 – yesterday’s intraday high.
It was also boosted on Monday and 4 times last week.
Origin isn’t the only ASX 200 energy company performing well in 2022. In fact, year to date, much of the S&P/ASX 200 Energy Index (ASX: XEJ) is outperforming its stock.
The Beach Energy Ltd (ASX: BPT) and Woodside Petroleum Limited (ASX: WPL) share prices are leading the index. They’ve respectively gained 17% and 15% since the end of 2021.
Those of Santos Ltd (ASX: STO), Worley Ltd (ASX: WOR), and Whitehaven Coal Ltd (ASX: WHC) are also out in front of the energy provider’s stock.
For context, the ASX 200 has slipped 1.5% since the final close of last year.
The energy sector’s gains have likely been helped along by surging oil prices and rising coal prices amid an Indonesian export ban.
The post The Origin (ASX:ORG) share price has hit 6 52-week highs in 2022. Here’s why appeared first on The Motley Fool Australia.
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More reading
- Here’s why BlackRock plans to keep these carbon intensive ASX 200 shares
- Why is the Origin (ASX:ORG) share price hitting new highs today?
- In the green: the 5 best ASX renewable shares of 2021
- How did the Origin (ASX:ORG) share price perform in 2021?
- ASX 200 (ASX:XJO) midday update: Afterpay hits 52-week low, energy shares rise
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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