In this article, we will take a look at the 5 Best Large Cap Energy Stocks to Buy Now. For a deeper discussion and an extended list, please see the 12 Best Large Cap Energy Stocks to Buy Now.
5. EOG Resources, Inc. (NYSE:EOG)
Number of Hedge Fund Holders: 59
EOG Resources, Inc. (NYSE:EOG) is one of the largest crude oil and natural gas exploration and production companies in the United States with proved reserves in the US and Trinidad.
On March 12, Piper Sandler once again raised its price target on EOG Resources, Inc. (NYSE:EOG) from $127 to $144, but maintained its ‘Neutral’ rating on the shares. The updated target comes as the analyst firm increased its price deck.
With the ongoing supply disruption amid the Iran war, Piper Sander has raised its mid-cycle crude price forecast to $75 per barrel from $70 previously. The analyst firm sees lasting supply impacts from the situation in the Middle East and expects the soaring prices to incentivize increased investments in production.
EOG Resources, Inc. (NYSE:EOG) is targeting to generate approximately $4.5 billion in free cash flow in FY 2026. Meanwhile, its breakeven price to cover the year’s capital program and regular dividend is $50 WTI. So the Middle East crisis, which has pushed the WTI crude oil futures to just under $100 per barrel, provides a solid cushion for the company to grow its cash flow while also keeping its strong commitment to shareholders.
4. ConocoPhillips (NYSE:COP)
Number of Hedge Fund Holders: 65
ConocoPhillips (NYSE:COP) is one of the world’s largest independent E&P companies based on oil and natural gas production and proved reserves.
On March 12, Piper Sandler bumped its price target on ConocoPhillips (NYSE:COP) from $111 to $154, while maintaining an ‘Overweight’ rating on the shares. The target adjustment, which indicates an upside potential of over 26% from the current share price, comes as the analyst firm revised its estimates following a $5 per barrel increase in its mid-cycle WTI price forecast amid the US/Iran war.
Piper Sandler sees the war having lasting supply impacts on the global energy market, with projections of 2026 crude balances to tighten by about 2 million barrels per day compared to prior expectations. The firm expects the tightening supply, paired with soaring prices, to incentivize increased investments in production.
ConocoPhillips (NYSE:COP) is targeting an output of 2.23 million – 2.26 million barrels of oil equivalent per day in 2026, with first-quarter production expected between 2.3 – 2.34 million barrels per day.
3. Kinder Morgan, Inc. (NYSE:KMI)
Number of Hedge Fund Holders: 66
Kinder Morgan, Inc. (NYSE:KMI) is one of the largest energy infrastructure companies in North America. The company has an interest in or operates approximately 78,000 miles of pipelines and 139 terminals.
On March 5, Mizuho increased its price target on Kinder Morgan, Inc. (NYSE:KMI) from $31 to $37, while maintaining an ‘Outperform’ rating on the shares. The target bump, which indicates an upside of over 10% from the current levels, comes as the analyst firm increased its estimates after meeting with the company’s management.
Kinder Morgan, Inc. (NYSE:KMI) has benefited strongly from the record increase in energy demand, as its pipelines connect every major natural gas resource play to key demand centers. The company revealed in its Q4 2025 earnings call that it is working to potentially serve more than 10 Bcf a day of natural gas demand in the power generation sector. Moreover, the ballooning American LNG industry also provides a significant growth opportunity, and Kinder Morgan is projecting the LNG feed gas demand to average 19.8 Bcf per day in 2026, up 19% from last year.
2. Chevron Corporation (NYSE:CVX)
Number of Hedge Fund Holders: 86
Chevron Corporation (NYSE:CVX) manufactures and sells a range of high-quality refined products, including gasoline, diesel, marine and aviation fuels, premium base oil, finished lubricants, and fuel oil additives.
On March 12, Piper Sandler analyst Ryan Todd significantly increased the firm’s price target on Chevron Corporation (NYSE:CVX) from $179 to $242, while keeping an ‘Overweight’ rating on the shares. The bumped target, which indicates an upside of almost 23% from the current levels, comes as the analyst firm raised its mid-cycle crude price forecast to $75 per barrel from $70 previously.
The price deck increase comes amid the US-Iran war, which has threatened to block around a fifth of the global crude oil supply. While the duration of these supply disruptions remains uncertain for now, Piper Sandler expects them to leave a lasting impact. The analyst firm is projecting 2026 crude balances to tighten by about 2 Mb/d compared to prior forecasts. Moreover, Piper expects the tightening supply, paired with soaring prices, to further incentivize investment in increasing production.
As of the writing of this piece, the share price of Chevron Corporation (NYSE:CVX) has surged by over 26% since the beginning of 2026.
1. Exxon Mobil Corporation (NYSE:XOM)
Number of Hedge Fund Holders: 98
Topping our list of the Best Large-Cap Energy Stocks is Exxon Mobil Corporation (NYSE:XOM). It is one of the largest integrated fuels, lubricants, and chemical companies in the world.
Exxon Mobil Corporation (NYSE:XOM) received a lift on March 12 when Piper Sandler raised its price target on the stock from $145 to $186, while keeping an ‘Overweight’ rating on the shares. The revised target indicates an upside potential of around 19% from the current share price.
Piper Sandler upped its estimates due to a $5 per barrel increase in its mid-cycle WTI price forecast, driven by the supply disruptions due to the US-Iran war. The war has led to Tehran effectively closing down the Strait of Hormuz, which handles around 20% of the global crude oil and LNG supply. The outages have sent crude oil prices soaring to multi-year highs, with WTI crude oil futures trading at just below the $100 per barrel mark as of the writing of this piece.
While the duration of these disruptions remains uncertain, Piper expects them to leave a lasting impact. As a result, the firm’s commodity macro team is forecasting that the 2026 crude balances will tighten by about 2 Mb/d compared to prior expectations. The analyst firm expects the tight supply, paired with the high prices, to drive an uptick in future investments to increase production.
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