In this piece, we will take a look at the five most profitable energy stocks. If you want to learn all about the recent developments in the energy industry, then read 12 Most Profitable Energy Stocks.
5. Chevron Corporation (NYSE:CVX)
Latest TTM Net Income: $25.4 billion
Chevron Corporation (NYSE:CVX) is a well ‘oiled’ and diversified American oil and gas exploration and production firm. Its operations and business dealings in Venezuela are all the hype in the industry these days as Chevron Corporation (NYSE:CVX) is seeking to extend a 15 year joint venture in the country.
During Q3 2023, 72 out of the 910 hedge funds part of Insider Monkey’s database had invested in Chevron Corporation (NYSE:CVX). Warren Buffett’s Berkshire Hathaway was the biggest shareholder through its $18.5 billion investment.
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Follow Chevron Corp (NYSE:CVX)
4. BP p.l.c. (NYSE:BP)
Latest TTM Net Income: $25.6 billion
BP p.l.c. (NYSE:BP) is one of the oldest and most important energy companies in the world, since it has been operating for more than a hundred years now. However, 2023 hasn’t been kind to the firm as it has beaten analyst EPS estimates in just one out of its four latest quarters.
By the end of September 2023, 35 among the 910 hedge funds tracked by Insider Monkey were the firm’s shareholders. BP p.l.c. (NYSE:BP)’s largest hedge fund investor is Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital as it owns $824 million worth of shares.
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Follow B P Plc (NYSE:BP)
3. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)
Latest TTM Net Income: $26.8 billion
Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is the Brazilian state owned oil and gas giant that plays a crucial role in the country’s economy and politics. These days, it is on the radar of airlines, who have asked the firm to reduce jet fuel prices as the global oil market cools down.
During 2023’s third quarter, 36 out of the 910 hedge funds tracked by Insider Monkey owned Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)’s shares. Rajiv Jain’s GQG Partners was the largest shareholder through its $3.1 billion investment.
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Follow Petroleo Brasileiro Sa Petrobras (NYSE:PBR)
2. Shell plc (NYSE:SHEL)
Latest TTM Net Income: $28.9 billion
Shell plc (NYSE:SHEL) is a Dutch diversified oil and gas company. The firm has held up well on the financial front as of late, since despite a slow industry, it has beaten analyst EPS estimates in three out of its four latest quarters.
Insider Monkey’s third quarter of 2023 survey covering 910 hedge funds revealed that 49 were the firm’s stakeholders. Shell plc (NYSE:SHEL)’s biggest investor in our database is Ken Fisher’s Fisher Asset Management since it owns 22.3 million shares that are worth $1.4 billion.
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Follow Shell Plc
1. Exxon Mobil Corporation (NYSE:XOM)
Latest TTM Net Income: $41 billion
Exxon Mobil Corporation (NYSE:XOM) is an American oil and gas exploration and production company. Like Chevron, December 2023 is proving to be an interesting month for the firm as it has decided to stay in Guayana despite the political turmoil in Venezuela.
As of Q3 2023 end, 79 out of the 910 funds part of Insider Monkey’s database had held a stake in the company. Exxon Mobil Corporation (NYSE:XOM)’s largest hedge fund shareholder is Jean-Marie Eveillard’s First Eagle Investment Management as it owns $1.5 billion worth of shares.
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Follow Exxon Mobil Corp (NYSE:XOM)
Disclosure: None. You can also take a look at 15 Undervalued S&P 500 Stocks Billionaires Are Loading Up On and 20 Countries With Highest Rate Of Breast Cancer In The World.
