In this article, we discuss the 5 biggest energy companies in the US. If you want to read about some more energy companies, the risk/reward and methodology of this list, go directly to the 15 Biggest Energy Companies in the US.
5. Phillips 66 (NYSE:PSX)
2021 Revenue: $111.47 billion
Number of Hedge Funds: 38
Phillips 66 (NYSE:PSX) is an America multinational company that operates in the energy sector. The company transports, markets, and refines petrochemicals known as natural gas liquids (NGL).
In 2021, Phillips 66 (NYSE:PSX) reported revenue of $111.47 billion, ranking it #5 on our list of biggest energy companies in the US.
With the higher oil prices and industry trends, Phillips 66 (NYSE:PSX)’s sales could increase. The company is also strategically advancing projects to help meet the growing demand for renewable fuels and NGLs.
At the end of the second quarter of 2022, 38 hedge funds were bullish on Phillips 66 (NYSE:PSX) and held stakes worth $1.07 billion.
4. Valero Energy Corporation (NYSE:VLO)
2021 Revenue: $113.97 billion
Number of Hedge Funds: 43
Valero Energy Corporation (NYSE:VLO) refines and markets oil and gas. The company operates in Refining, Renewable Diesel, and Ethanol segments.
In August, analyst Ryan Todd at Piper Sandler raised the firm’s price target for Valero from $142 to $150 while maintaining an Overweight rating on the stock.
Many hedge funds also like the stock. At the end of the second quarter of 2022, 43 hedge funds in the database of Insider Monkey held stakes worth $759.77 million in Valero Energy Corporation (NYSE:VLO). When looking at the institutional investors followed by Insider Monkey, Israel Englander’s Millennium Management is the largest stakeholder in Valero Energy Corporation (NYSE:VLO) with shares valued at $201.15 million comprising 0.12% of its 13F portfolio.
3. Marathon Petroleum Corporation (NYSE:MPC)
2021 Revenue: $119.98 billion
Number of Hedge Funds: 50
Marathon Petroleum Corporation (NYSE:MPC) is an American oil refining, marketing, and transportation firm. The company reported revenue of $119.98 billion in 2021, which was a staggering 71.95% increase from the previous year. For 2022, analysts expect the company’s sales to increase to $173.23 billion before declining to $146.82 billion in 2023.
In August, Marathon Petroleum Corporation (NYSE:MPC)’s price target was increased by RBC Capital analyst TJ Schultz to $121 from $110 while maintaining an Outperform rating on the stock.
As of the end of Q2 2022, 50 of the hedge funds tracked by Insider Monkey owned stakes in Marathon Petroleum Corporation (NYSE:MPC). Those stakes held a collective value of over $2.72 billion.
2. Chevron Corporation (NYSE:CVX)
2021 Revenue: $162.46 billion
Number of Hedge Funds: 59
Chevron Corporation (NYSE:CVX), is an oil and gas exploration company based in California.
Many hedge funds like the stock. At the end of the second quarter of 2022, 59 hedge funds in the database of Insider Monkey held stakes worth $26 billion in Chevron Corporation (NYSE:CVX). When looking at the institutional investors followed by Insider Monkey, Warren Buffett’s Berkshire Hathaway is the largest stakeholder in Chevron Corporation (NYSE:CVX) with shares valued at $23.37 billion comprising 7.78% of its 13F portfolio.
Diamond Hill Capital mentioned Chevron Corporation (NYSE:CVX) in its Q1 2022 investor letter. Here is what the firm had to say:
Other top contributors in Q1 included multinational energy company Chevron Corp. (NYSE:CVX). The company benefited from increased energy demand as COVID-related economic restrictions eased in tandem with concerns regarding supply interruptions related to Russia’s invasion of Ukraine.
1. Exxon Mobil Corporation (NYSE:XOM)
2021 Revenue: $285.64 billion
Number of Hedge Funds: 72
Headquartered in Texas, Exxon Mobil Corporation (NYSE:XOM) is a multinational that operates in the energy sector with a focus on oil and gas.
Exxon Mobil Corporation (NYSE:XOM) reported revenue of $285.64 billion at the end of 2021, making it the largest company on our list of biggest energy companies in the US.
If oil prices stay high, Exxon Mobil Corporation (NYSE:XOM)’s sales are expected to also increase in the next few years. As per Insider Monkey’s Q2 2022 database, 72 hedge funds tracked by Insider Monkey owned stakes in Exxon Mobil Corporation (NYSE:XOM), falling from 83 in the previous quarter. These stakes hold a collective value of over $7.4 billion. With over $4 billion worth of stakes, GQG Partners held the largest position in the company in Q2.
You can also take a look at Simon Sadler’s Segantii Capital is Bullish on These 10 Stocks and 10 Best Stocks to Buy Now According to Billionaire Andreas Halvorsen.
