In this piece, we will take a look at the top five most profitable energy companies in the world. For a detailed look at the energy industry, head on over to Top 20 Most Profitable Energy Companies in the World.
5. Equinor ASA (NYSE:EQNR)
Latest 12 Month Revenue Estimate: $28.7 billion
Equinor ASA (NYSE:EQNR) is a Norwegian oil and gas giant. A large portion of its ownership is held by the government. Equinor ASA (NYSE:EQNR) has operations in Brazil, the Gulf of Mexico, and Norway. It was set up in 1972 and is headquartered in Stavanger, Norway.
Insider Monkey’s survey covering 943 hedge funds for their March quarter of 2023 shareholdings found that 21 had held a stake in the firm. Equinor ASA (NYSE:EQNR)’s largest investor is Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital with a $258 million stake.
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4. Chevron Corporation (NYSE:CVX)
Latest 12 Month Revenue Estimate: $35.5 billion
Chevron Corporation (NYSE:CVX) is a diversified oil company that extracts petroleum products and sells them to consumers as well. It has oil exploration and production facilities all over the world and it also transports liquefied natural gas (LNG).
Insider Monkey’s first quarter of 2023 study of 943 hedge funds showed that 64 had invested in the firm. Chevron Corporation (NYSE:CVX)’s largest investor in our database is Warren Buffett’s Berkshire Hathaway with a $21 billion stake.
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3. Shell plc (NYSE:SHEL)
Latest 12 Month Revenue Estimate: $42.3 billion
Shell plc (NYSE:SHEL) is another oil and gas major. Like Chevron and Total, it also operates in all segments of the oil supply chain. Shell explores and produces crude oil, refines it, transports and markets it, and also sells it at the pump. The firm also has a renewable energy division and it sells liquefied natural gas (LNG) too.
After digging through 943 hedge funds for their first quarter of 2023 shareholdings, Insider Monkey discovered that 41 had bought and invested in Shell plc (NYSE:SHEL)’s shares. Its largest hedge fund investor is Ken Fisher’s Fisher Asset Management since it owns 21 million shares that are worth $1.2 billion.
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2. Exxon Mobil Corporation (NYSE:XOM)
Latest 12 Month Revenue Estimate: $55.7 billion
Exxon Mobil Corporation (NYSE:XOM) is the world’s largest private oil company in terms of market capitalization and net profit. Like other large and diversified oil companies on our list, it has operations from the field to the pump. Exxon Mobil Corporation (NYSE:XOM) operates its own refineries, its own oil fields, has its own distribution networks, and sells fuel through its stations as well. The firm was set up in 1870 and is headquartered in Irving, Texas.
73 of the 943 hedge funds part of Insider Monkey’s database had invested in Exxon Mobil Corporation (NYSE:XOM) as of March 2023. Rajiv Jain’s GQG Partners is its largest shareholder since it owns 19.5 million shares that are worth $2.1 billion.
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1. Saudi Arabian Oil Company (TADAWUL:2222.SR)
Latest 12 Month Revenue Estimate: $55.7 billion
Saudi Arabian Oil Company (TADAWUL:2222.SR) is the largest oil company in the world. A descendant of the British Empire’s oil operations in Asia, it is the state owned oil company of Saudi Arabia.
Disclosure: None. You can also take a look at 10 Technology Dividend Stocks Billionaires Are Loading Up On and 10 5G Stocks Billionaires Are Loading Up On.
