These buy-rated stocks are expected to grow profits the most this year

Published Thu, Feb 17 20226:14 AM EST

As earnings reporting season comes to a close, CNBC PRO wanted to find the winners, or those whose outlook brightened the most after reporting. While more than 77% of S & P 500 beat earnings expectations for fourth-quarter earnings, according to FactSet, this earnings season was rough. The stock market fell as investors grew concerned about the Federal Reserve's policy shift. There were some notable disappointments, like Meta Platforms, formerly knowns as Facebook. The social media stock tumbled more than 20% after reporting disappointing earnings, gave weak guidance and said user growth has stagnated. Streaming giant Netflix's stock was punished after reporting slowing subscriber growth and Citigroup shares slid after the bank said its fourth-quarter profit declined 26% . Generally, companies did not issues great guidance; however, CNBC PRO found the companies that stood out. CNBC PRO screened for S & P 500 companies with expected earnings growth of at least 30% this year. Plus, at least 5 analysts revised their earnings estimates for 2022 higher following the most recent earnings report. These listed stocks also have the majority of Wall Street analysts assigning it a buy rating. They also have at least 10% upside to their average 12-month price target. Plus, these names are all outperforming the S & P 500 this year. Take a look at the list here. Oil and energy companies were well represented on CNBC PRO's list. Baker Hughes is expected to grow its earnings an impressive 10.48% in 2022. The stock received 16 upward revisions after its earnings report and has gained roughly 20% this year. Plus, Wall Street sees its stocks rallying more than 15% in the next 12 months. Other oil and energy names like ConocoPhillips , Devon Energy , Diamondback Energy and Phillips 66 made the list. ConocoPhillips is forecast to grow its profits about 50% this year. The stock is up more than 24% in 2022 and its estimated to gain more than 15% this year. Devon Energy is expected to increase its earnings by about 55% this year. It's stock is up more than 16% year-to-date and is forecast to rally 12% from here, according to Wall Street. Wall Street has the highest hopes for Diamondback Energy, expecting the energy name to grow its earnings a whopping 261.7%. The stock is up more than 18% in 2022 and is forecast to rally more than 14% in the next 12 months. Media giant Disney is another name that won following its earnings this season. The company beat Wall Street's earnings expectations for last quarter, spurring 17 upward revisions from analysts. Disney said it doubled its revenue in its parks, experiences and consumer products division, as more guests attended theme parks, stayed in branded hotels and booked cruises. It also reported total subscriptions for its streaming service that beat estimates. Wall Street expects Disney to grow its earnings early 93% this year. While the stock is about flat for the year, analysts see it gaining nearly 23% in the next 12 months. Signature Bank is forecast to increase its earnings more than 30% in 2022. The stock is also expected to rally nearly 30% in the next 12 months. Chip stocks Micron Technology and Qualcomm were winners this earnings season. Analysts expect the pair to grow earnings nearly 50% and nearly 38% this year, respectively. Both stocks are trading a few percentage points from the flat line in 2022 but Wall Street sees Micron gaining nearly 18% and Qualcomm adding nearly 30% in the next 12 months. McKesson Corp ., News Corp ., and WestRock also earned spots on CNBC's list.

A stunning firework show is held at the Magic Kingdom Park in Walt Disney World Resort on July 1, 2021 in Lake Buena Vista, Florida. .

Liao Pan | China News Service | Getty Images

As earnings reporting season comes to a close, CNBC PRO wanted to find the winners, or those whose outlook brightened the most after reporting.