5 Biggest Exploration and Production Companies in the World

In this piece, we will take a look at the five biggest exploration and production companies in the world. For more companies, head on over to 15 Biggest Exploration and Production Companies in the World.

5. Pioneer Natural Resources Company (NYSE:PXD)

Market Capitalization as of November 17th, 2022: $60.9 billion

Pioneer Natural Resources Company (NYSE:PXD) is an American company that produces oil, natural gas, and natural gas liquids. The firm has roughly 130 million barrels of proven oil reserves and interests in 11 gas producing stations.

Pioneer Natural Resources Company (NYSE:PXD)’s third fiscal quarter saw the firm report $4.2 billion in revenue, which marked a $1 billion in growth over the year ago results. The firm’s net income grew by more than $900 million, as it reported $1.9 billion in bottom line profits. Pioneer Natural Resources Company (NYSE:PXD) also aims to produce up to 365,000 barrels of oil by the end of this year.

Insider Monkey’s Q3 2022 survey of 895 hedge funds revealed that 49 had held a stake in Pioneer Natural Resources Company (NYSE:PXD).

Out of these, Pioneer Natural Resources Company (NYSE:PXD)’s largest shareholder is Andrew Weiss’ Weiss Asset Management which owns 1.3 million shares that are worth $273 million.

3. ConocoPhillips (NYSE:COP)

Market Capitalization as of November 17th, 2022: $163 billion

ConocoPhillips (NYSE:COP) is an American oil and gas exploration, production, and transportation company that is headquartered in Houston, Texas. The firm has facilities in North America, Europe, Canada, Asia, and Australia.

ConocoPhillips (NYSE:COP) had a strong fiscal third quarter which saw the firm report $3.6 in earnings per share. The firm decided to reward investors in the aftermath, as it announced an 11% dividend hike and a $20 billion share buyback increase. These came as ConocoPhillips (NYSE:COP) reported $4.5 billion in free cash flows.

Piper Sandler raised ConocoPhillips (NYSE:COP)’s share price target to $155 from $133 in November 2022 as it shared that the third quarter results were quite strong when compared to the weakening 2023 economic outlook. 64 out of the 920 hedge funds polled by Insider Monkey during this year’s September quarter had invested in ConocoPhillips (NYSE:COP).

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

2. Chevron Corporation (NYSE:CVX)

Market Capitalization as of November 17th, 2022: $360.7 billion

Chevron Corporation (NYSE:CVX) is an integrated American energy company that produces, transports, and sells oil. The firm was set up in 1879 and is headquartered in San Ramon, California.

Chevron Corporation (NYSE:CVX) is busy expanding its natural gas and chemicals business. The firm announced in November 2022 that it had purchased a network of 55 compressed natural gas (CNG) stations in the U.S. with the aim of selling its own natural gas through them. It also announced in the same month that its joint venture and Qatar Energy will move ahead with building an $8.5 billion polymers plant in Texas.

Chevron Corporation (NYSE:CVX) pays a $1.42 dividend for a 3% yield, and 66 out of the 920 hedge funds part of Insider Monkey’s third quarter of 2022 survey had bought its shares.

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

1. Exxon Mobil Corporation (NYSE:XOM)

Market Capitalization as of November 17th, 2022: $466.8 billion

Exxon Mobil Corporation (NYSE:XOM) is an American integrated oil and gas company. The firm explores its products, and it also transports and sells them. It is headquartered in Irving, Texas, the United States.

Exxon Mobil Corporation (NYSE:XOM) is one of the fastest growing oil and gas production companies in the world. For instance, between 2017 and 2021, its production from the Permian Basin grew by a whopping 70% to sit at more than 500,000 barrels per day. As if this weren’t enough, Exxon Mobil Corporation (NYSE:XOM) also plans to further grow its production by 25% by the end of this year.

As of this year’s third quarter, 75 out of the 895 hedge funds polled by Insider Monkey had held a stake in Exxon Mobil Corporation (NYSE:XOM).

Rajiv Jain’s GQG Partners is Exxon Mobil Corporation (NYSE:XOM)’s largest shareholder through a $2.9 billion stake that comes via 33 million shares.

Disclosure: None. You can also take a look at 15 Largest Airlines in the World and 10 Best Safe Dividend Stocks for Retirement Portfolios.

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