Markets

Insider Trading

Hedge Funds

Retirement

Opinion

17 Biggest Energy Companies in the US

In this piece, we will take a look at the 17 biggest energy companies in the U.S. For more companies, head on over to 5 Biggest Energy Companies in the U.S.

America is one of the world’s most industrialized regions, with the largest economy in nominal terms. This also makes it one of the world’s largest consumers of electricity, ranking second only to China through 3.9 trillion kilowatt hours (kWh) in 2021. In terms of sources of energy consumption, petroleum and natural gas account for the largest sources and renewable energy ranks in third place. Sector wise, industrial, transportation, and electrical power use are the largest electricity consumers in the U.S., and natural gas is the most widely used production source, according to data from the Energy Information Administration (EIA).

Courtesy of some of the best educational institutions in the world, the U.S. is also leading the charge in researching innovative mediums for generating renewable energy. Not only is Tesla, Inc. (NASDAQ:TSLA), an American firm, the world’s first car maker to successfully mass produce an electric vehicle, but researchers from the Massachusetts Institute of Technology (MIT) are investigating methods to improve electricity generation through waves and the Sun, as well as new mediums to store electricity. While solar cells are common these days, these materials are unable to tap the vast amounts of energy that the Sun beams down to the Earth. On this front, MIT is searching for materials that are cost effective, scalable, reliable, and efficient at the same time. To do this, they are utilizing machine learning and rapid experimentation to quickly sift through materials in hopes that a new one will provide a breakthrough.

When talking about energy, any discussion would be incomplete without nuclear power plants. There are two kinds of nuclear reactions, fission and fusion. With the former, atoms are split up to squeeze out energy from them. However, the latter is vastly more powerful (and complex) since it requires squeezing the atoms together and the resulting energy is harnessed as power. Fusion is the Sun’s primary energy source, and all nuclear plants in the world use fission instead. In the area of fusion, the U.S. federal Lawrence Livermore National Laboratory in California was able to generate more energy from a Hydrogen plasma bombarded with lasers than the electricity used in operating the lasers instead. This was a crucial breakthrough since fusion is the most efficient and cleanest source of power – even on the nuclear front as it does not generate any radioactive waste.

Additionally, America also passed one of the most important pieces of legislation for renewable energy this year, in form of the Inflation Reduction Act. This bill provides roughly $370 billion in government subsidies for clean power generation. This provides the incentive for even some of the biggest American energy companies to invest in the field. Finally, global crude oil prices have injected fresh rigor into renewable energy production, after they jumped to a whopping $139 per barrel earlier this year in the aftermath of the Russian invasion of Ukraine.

Today, we’ll take a look at the largest American energy firms, with the top picks being Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), and NextEra Energy, Inc. (NYSE:NEE).

Our Methodology

We studied the energy industry in detail to sift out which firms are the major players in oil and gas exploration, crude oil production, and marketing. They are ranked according to their market capitalization with hedge fund sentiment courtesy of Insider Monkey’s 920 fund survey for Q3 2022 also provided.

17 Biggest Energy Companies in the U.S.

17. Hess Corporation (NYSE:HES)

Market Capitalization as of December 23, 2022: $43 billion

Hess Corporation (NYSE:HES) is an oil company that explores, transports, and sells the fuel in the U.S., Guayana, and Asia. It has 1.3 million barrels of oil equivalent in reserves.

Hess Corporation (NYSE:HES) is also expanding its presence on the renewable energy front, as the company reached an agreement with the Guyana government in December 2022 to buy at least $750 million worth of energy credits over the next ten years. The firm is aiming to produce as much as 335,000 barrels of oil equivalent this year.

33 of the 920 hedge funds polled by Insider Monkey had bought Hess Corporation (NYSE:HES)’s shares in Q3 2022.

Out of these, Ken Fisher’s Fisher Asset Management is Hess Corporation (NYSE:HES)’s largest shareholder. It owns 4.5 million shares that are worth $500 million.

Chevron Corporation (NYSE:CVX), Hess Corporation (NYSE:HES), Exxon Mobil Corporation (NYSE:XOM), and NextEra Energy, Inc. (NYSE:NEE) are some of the biggest energy companies in America.

16. Valero Energy Corporation (NYSE:VLO)

Market Capitalization as of December 23, 2022: $47.9 billion

Valero Energy Corporation (NYSE:VLO) is an oil refining and marketing company that sells transportation fuels and other petroleum products in bulk. It is headquartered in San Antonio, Texas.

Valero Energy Corporation (NYSE:VLO) shared in October 2022 that it is continuing to see high demand for its refining products in the wake of the Russian invasion of Ukraine, with the resulting price shock on natural gas also improving the company’s margins. Crucially, the firm is also aiming to produce 1.2 billion gallons of renewable diesel annually.

Insider Monkey took a look at 920 hedge funds for their third quarter of 2022 investments to discover that 47 had invested in Valero Energy Corporation (NYSE:VLO).

Valero Energy Corporation (NYSE:VLO)’s largest investor is Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital which owns 3.1 million shares that are worth $334 million.

15. Phillips 66 (NYSE:PSX)

Market Capitalization as of December 23, 2022: $49.1 billion

Phillips 66 (NYSE:PSX) refines, transports, and sells petroleum products. It is headquartered in Houston, Texas.

Like other energy companies, Phillips 66 (NYSE:PSX) is also making big moves in the renewable energy sector. The firm has allocated $2 billion for capital investments in 2023, out of which $1.1 billion will be dedicated to low carbon opportunities, such as producing low carbon fuels.

Insider Monkey surveyed 920 hedge funds to determine that 34 had invested in Phillips 66 (NYSE:PSX) during this year’s September quarter.

Phillips 66 (NYSE:PSX)’s largest investor in our database is D.E. Shaw’s D E Shaw which owns 3.1 million shares that are worth $250 million.

14. American Electric Power Company, Inc. (NASDAQ:AEP)

Market Capitalization as of December 23, 2022: $49.1 billion

American Electric Power (NYSE:AEP) is an electricity utility company that generates and sells power. The firm is based in Columbus, Ohio.

Between 2023 and 2027, American Electric Power Company, Inc. (NASDAQ:AEP) is aiming to spend $40 billion to upgrade its operations. Out of these, $9 billion will be in renewable power generation. The firm also accelerated its net zero carbon emissions goal by five years in October 2022.

By the end of Q3 2022, 35 of the 920 hedge funds polled by Insider Monkey had invested in American Electric Power Company, Inc. (NASDAQ:AEP).

American Electric Power Company, Inc. (NASDAQ:AEP)’s largest investor is Jim Simons’ Renaissance Technologies which owns 2 million shares that are worth $177 million.

13. Sempra (NYSE:SRE)

Market Capitalization as of December 23, 2022: $49.5 billion

Sempra (NYSE:SRE) provides electricity and gas to thousands of customers all over the U.S. The firm operates out of San Diego, California.

The ongoing Russian invasion of Ukraine led to Europe moving away from Russian gas and focusing on LNG for its energy needs. Keeping note of this, Sempra (NYSE:SRE) entered an agreement in December 2022 through which it will sell 875,000 tons of LNG annually for 15 years to a French utility company.

27 of the 920 hedge funds polled by Insider Monkey during this year’s September quarter had held a stake in Sempra (NYSE:SRE).

Phill Gross and Robert Atchinson’s Adage Capital Management is Sempra (NYSE:SRE)’s largest investor. It owns 420,185 shares that are worth $63 million.

12. Dominion Energy, Inc. (NYSE:D)

Market Capitalization as of December 23, 2022: $50.6 billion

Dominion Energy, Inc. (NYSE:D) is an electricity and gas company with customers in Virginia, North Carolina, Ohio, Utah, and other American states, making it one of the largest energy firms in America.

Dominion Energy, Inc. (NYSE:D) is making key moves in the carbon emissions reduction initiatives, as it provided another company with the tools to map out emissions throughout the value chain by bringing multiple data sources under a single platform.

Insider Monkey studied 920 hedge fund portfolios to discover that 29 had held a stake in Dominion Energy, Inc. (NYSE:D) during Q3 2022.

Dominion Energy, Inc. (NYSE:D)’s largest hedge fund investor is Ric Dillon’s Diamond Hill Capital which owns 3.2 million shares that are worth $223 million.

11. Enterprise Products Partners L.P. (NYSE:EPD)

Market Capitalization as of December 23, 2022: $52.1 billion

Enterprise Products Partners L.P. (NYSE:EPD) stores, processes, and transports crude oil and natural gas. The firm is based in Houston, Texas.

Enterprise Products Partners L.P. (NYSE:EPD) scored a big win when it announced in December 2022 that it had received certification from a regulatory body for expanding its fractionation and chemicals facilities for transporting and producing sustainable products via end to end mapping.

21 of the 920 hedge funds part of Insider Monkey’s third quarter of 2022 survey had bought Enterprise Products Partners L.P. (NYSE:EPD)’s shares.

Enterprise Products Partners L.P. (NYSE:EPD)’s largest investor is Bruce Berkowitz’s Fairholme (FAIRX) which owns 3.8 million shares that are worth $92 million.

10. Pioneer Natural Resources Company (NYSE:PXD)

Market Capitalization as of December 23, 2022: $54.4 billion

Pioneer Natural Resources Company (NYSE:PXD) is one of America’s largest energy companies as it has more than 100 million barrels of proven oil reserves and close to 500 billion cubic feet of gas reserves.

Like other large American energy companies, Pioneer Natural Resources Company (NYSE:PXD) is also reducing its carbon dioxide emissions. During 2021, it finished two acquisitions which enabled Pioneer Natural Resources Company (NYSE:PXD) to reduce its methane emissions by 50% over 2019 levels.

Insider Monkey profiled 920 hedge funds for their Q3 2022 investments to discover that 49 had bought Pioneer Natural Resources Company (NYSE:PXD)’s shares.

Pioneer Natural Resources Company (NYSE:PXD)’s largest investor is Donald Yacktman’s Yacktman Asset Management which owns 686,869 shares that are worth $148 million.

10. Occidental Petroleum Corporation (NYSE:OXY)

Market Capitalization as of December 23, 2022: $58.1 billion

Occidental Petroleum Corporation (NYSE:OXY) is an oil, gas, and chemicals company that produces, stores, and transports the products. The firm is headquartered in Houston, Texas.

Occidental Petroleum Corporation (NYSE:OXY) is one of the few oil companies that is developing a carbon dioxide recapturing plant. The firm announced in November 2022 that it is building such a plant on the Texas Gulf Coast for which it is responsible for building the pipelines for CO2 transportation.

By the end of this year’s September quarter, 74 of the 930 hedge funds polled by Insider Monkey had invested in Occidental Petroleum Corporation (NYSE:OXY).

Occidental Petroleum Corporation (NYSE:OXY)’s largest hedge fund shareholder is Warren Buffett’s Berkshire Hathaway which owns 194 million shares that are worth $11 billion.

9. Schlumberger Limited (NYSE:SLB)

Market Capitalization as of December 23, 2022: $75 billion

Schlumberger Limited (NYSE:SLB) is an American firm that provides the oil and gas industry with software and services for managing their wells, reservoirs, and production.

Taking a unique approach towards renewable energy, Schlumberger Limited (NYSE:SLB) is partnering up with the Oman government to use artificial intelligence for mapping out the country’s potential to generate energy from geothermal sources. This project involves evaluating data from more than 7,000 oil, water and gas wells in Oman.

63 of the 920 hedge funds part of Insider Monkey’s Q3 2022 study had invested in Schlumberger Limited (NYSE:SLB).

Schlumberger Limited (NYSE:SLB)’s largest investor is Jean-Marie Eveillard First Eagle Investment Management which owns 27 million shares that are worth $971 million.

8. EOG Resources, Inc. (NYSE:EOG)

Market Capitalization as of December 23, 2022: $76.7 billion

EOG Resources, Inc. (NYSE:EOG) explores, produces, markets, and sells crude oil. It has more than 8 billion cubic feet of gas reserves and 3.7 million barrels of crude oil equivalent, for some of the largest energy reserves in America.

EOG Resources, Inc. (NYSE:EOG) capitalized on the growing demand for natural gas liquids (NGL) this year as it beat Wall Street NGL production estimates by 1% during its third quarter. This led Raymond James to raise its price target to $171 from $155 in November 2022.

By the end of 2022’s third quarter, 52 of the 920 hedge funds part of Insider Monkey’s research had bought EOG Resources, Inc. (NYSE:EOG)’s shares.

Out of these, Natixis Global Asset Management’s Harris Associates is EOG Resources, Inc. (NYSE:EOG)’s largest shareholder. It owns 7 million shares that are worth $787 million.

7. The Southern Company (NYSE:SO)

Market Capitalization as of December 23, 2022: $78.1 billion

The Southern Company (NYSE:SO) sells and distributes electricity and natural gas in a host of different American states such as Georgia, Illinois, and Virginia. It is one of America’s largest energy companies as it operates more than 75,000 miles of gas pipelines as part of a diverse energy footprint.

The Southern Company (NYSE:SO) is helping the U.S. government reduce its carbon footprint by partnering with the General Services Administration (GSA) which will let the agency reduce its annual energy and water costs by $3.3 million and carbon emissions by 18,000 metric tons.

31 of the 920 hedge funds polled by Insider Monkey for their September quarter of 2022 investments had held a stake in The Southern Company (NYSE:SO).

The Southern Company (NYSE:SO)’s largest shareholder is Jim Simons’ Renaissance Technologies which owns 3 million shares that are worth $208 million.

Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), and NextEra Energy, Inc. (NYSE:NEE) are met by The Southern Company (NYSE:SO) in our list of America’s largest energy companies.

Click to continue reading and see 5 Biggest Energy Companies in the U.S.

Suggested Articles:

Disclosure: None. 17 Biggest Energy Companies in the U.S. is originally published on Insider Monkey.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 75%.

For a ridiculously low price of just $24, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

  • The Name of the Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.
  • Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.
  • Lifetime Money-Back Guarantee:  If you’re not absolutely satisfied with our service, we’ll provide a full refund ANYTIME, no questions asked.

 

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

  1. Head over to our website and subscribe to our Premium Readership Newsletter for just $24.
  2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.
  3. Sit back, relax, and know that you’re backed by our ironclad lifetime money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…