5 Biggest Energy Companies in the US

In this piece, we will take a look at the five biggest energy companies in the U.S. For more companies, head on over to 17 Biggest Energy Companies in the U.S.

5. Duke Energy Corporation (NYSE:DUK)

Market Capitalization as of December 23, 2022: $79.3 billion

Duke Energy Corporation (NYSE:DUK) is an electricity, gas, and renewable energy company that is headquartered in Charlotte, North Carolina. The firm has more than 50,000 megawatts of electricity generation capacity – which is one of the largest in the U.S.

Duke Energy Corporation (NYSE:DUK) is expanding its renewable energy production capacities, and the firm announced in November 2022 that it is building a wind power plant in Mississippi that will be able to generate 100 megawatts of electricity. The project is expected to be commercialized in 2023.

Insider Monkey scanned 920 hedge fund portfolios to discover that 33 had bought Duke Energy Corporation (NYSE:DUK)’s shares in Q3 2022.

Duke Energy Corporation (NYSE:DUK)’s largest investor is Jim Simons’ Renaissance Technologies which owns 790,812 shares that are worth $73 million.

4. ConocoPhillips (NYSE:COP)

Market Capitalization as of December 23, 2022: $145.8 billion

ConocoPhillips (NYSE:COP) is a diversified oil company that is involved in nearly every part of the supply chain, from exploration to production, transportation, and marketing. The firm is headquartered in Houston, Texas.

Taking advantage of the European energy crisis that has seen the continent shift away to non Russian gas and LNG, ConocoPhillips (NYSE:COP) announced in November 2022 that it had entered into a 15 year contract to provide Germany with LNG.

64 of the 920 hedge funds polled by Insider Monkey during Q3 2022 had bought ConocoPhillips (NYSE:COP)’s shares.

ConocoPhillips (NYSE:COP)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 6.9 million shares that are worth $708 million.

3. NextEra Energy, Inc. (NYSE:NEE)

Market Capitalization as of December 23, 2022: $167.25 billion

NextEra Energy, Inc. (NYSE:NEE) is a utility company with close to 30,000 megawatts of power generation capacity and millions of customers in Florida.

According to Goldman Sachs, NextEra Energy, Inc. (NYSE:NEE) will be one of the biggest beneficiaries of the Inflation Reduction Act, as it expects the firm to become a major player in the green Hydrogen market. The bank raised the company’s share price target to $99 from $94 in September 2022.

Insider Monkey took a look at 920 hedge fund holdings for this year’s third quarter and discovered that 73 had bought NextEra Energy, Inc. (NYSE:NEE)’s shares.

Ken Fisher’s Fisher Asset Management is NextEra Energy, Inc. (NYSE:NEE)’s largest investor. It owns 9.4 million shares that are worth $741 million.

2. Chevron Corporation (NYSE:CVX)

Market Capitalization as of December 23, 2022: $343 billion

Chevron Corporation (NYSE:CVX) is an American firm that is not only one of the largest oil companies in America but also in the world.

Chevron Corporation (NYSE:CVX) was able to capitalize on the high oil prices in the wake of Russia’s Ukraine invasion as it reported $11.2 billion in profits for its third fiscal quarter – which was almost double what the firm had raked in during the year ago quarter.

66 of the 920 hedge funds polled by Insider Monkey for 2022’s September quarter had bought Chevron Corporation (NYSE:CVX)’s shares.

Warren Buffett’s Berkshire Hathaway is Chevron Corporation (NYSE:CVX)’s largest shareholder. It owns 165 million shares that are worth $23 billion.

1. Exxon Mobil Corporation (NYSE:XOM)

Market Capitalization as of December 23, 2022: $447.58 billion

Exxon Mobil Corporation (NYSE:XOM) is a diversified energy company that not only produces crude oil and gas, but is also expanding its presence in the renewables arena.

Exxon Mobil Corporation (NYSE:XOM) raked in $19.6 billion in profits during this year’s third quarter, which was its highest earnings in history due to price pressure from the Ukraine invasion. However, the company’s decision to distribute these as dividends to shareholders was criticized by President Biden who tweeted in October 2022 that giving back through dividends does not help Americans like bringing down pump prices can.

By the end of Q3 2022, 75 of the 920 hedge funds polled by Insider Monkey had bought Exxon Mobil Corporation (NYSE:XOM)’s shares.

Exxon Mobil Corporation (NYSE:XOM)’s largest shareholder is Rajiv Jain’s GQG Partners which owns 33 million shares that are worth $2.9 billion.

Disclosure: None. You can also take a peek at 14 Best Agriculture Stocks to Buy Now and 12 Most Advanced Countries in Asia.

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