In this piece, we will take a look at the five most profitable oil stocks in the world. For more companies, head on over to 12 Most Profitable Oil Stocks in the World.
5. Chevron Corporation (NYSE:CVX)
Trailing Twelve Months Net Income: $35.4 billion
Number of Hedge Fund Holders In Q3 2022: 66
Chevron Corporation (NYSE:CVX) is an American oil giant. It operates from the field to the pump, as not only does the company produce oil, but it also refines, transports, and sells it to everyday consumers. Chevron Corporation (NYSE:CVX) is headquartered in San Ramon, California.
After coming under criticism for operating in Myanmar – a country ruled by a military junta – Chevron Corporation (NYSE:CVX) announced in February 2023 that it is selling its interest in the country. 66 of the 920 hedge funds polled by Insider Monkey during Q3 2022 had held a stake in the firm.
Chevron Corporation (NYSE:CVX)’s largest investor is Warren Buffett’s Berkshire Hathaway which owns 165 million shares that are worth $23 billion.
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Follow Chevron Corp (NYSE:CVX)
4. TotalEnergies SE (NYSE:TTE)
Trailing Twelve Months Net Income: $36.2 billion
Number of Hedge Fund Holders In Q3 2022: 22
TotalEnergies SE (NYSE:TTE) is a French oil and gas company. Like Chevron, it is also involved in the entire oil supply chain, from the field to the consumer’s tank. The firm is based in Courbevoie, France.
TotalEnergies SE (NYSE:TTE) stunned investors in February 2023 when it announced that it had earned an all time record profit of $36.2 billion – profiting particularly due to high European energy inflation. Insider Monkey’s third quarter of 2022 survey of 920 hedge funds saw 22 investors in the company.
Ken Fisher’s Fisher Asset Management is TotalEnergies SE (NYSE:TTE)’s largest investor with a $1 billion stake that comes via 23 million shares.
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3. Shell plc (NYSE:SHEL)
Trailing Twelve Months Net Income: $42.3 billion
Number of Hedge Fund Holders In Q3 2022: 39
Shell plc (NYSE:SHEL) is a British oil and gas company. It produces and sells nearly every kind of petroleum product, from crude oil to liquefied natural gas and is headquartered in London.
The case of a rather curious lawsuit against Shell plc (NYSE:SHEL) moved forward in February 2023 when a suit targeting its management for climate mismanagement was backed by a group of British, French, Belgian, and Danish pension and asset management funds. Insider Monkey’s September quarter survey of 920 hedge funds outlined that 39 had held Shell plc (NYSE:SHEL)’s shares.
Out of these, Ken Fisher’s Fisher Asset Management is Shell plc (NYSE:SHEL)’s largest investor with a $1 billion stake that comes via 20 million shares.
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2. Exxon Mobil Corporation (NYSE:XOM)
Trailing Twelve Months Net Income: $55.7 billion
Number of Hedge Fund Holders In Q3 2022: 75
Exxon Mobil Corporation (NYSE:XOM) is an American company that is also the world’s largest non state-owned oil company in terms of revenue. It is headquartered in Irving, Texas.
Exxon Mobil Corporation (NYSE:XOM) halted gas flaring in the Permian Basin in January 2023, as part of a push to environmental sustainability that has also seen the firm looking to launch its own satellite to monitor methane concentrations in the area. Insider Monkey’s Q3 2022 survey of 920 hedge funds revealed that 75 had held a stake in the company.
Rajiv Jain’s GQG Partners is Exxon Mobil Corporation (NYSE:XOM)’s largest investor with a $2.9 billion stake that comes via 33 million shares.
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Follow Exxon Mobil Corp (NYSE:XOM)
1. Saudi Arabian Oil Company (TADAWUL:2222.SR)
Trailing Twelve Months Net Income: $156.74 billion
Number of Hedge Fund Holders In Q3 2022: N/A
The Saudi oil beast Saudi Arabian Oil Company (TADAWUL:2222.SR) is the largest oil company in the world, and one that is a pivotal part of the global supply chain. Aramco’s decisions on output shape the market pricing, and others are often forced to follow it.
As part of its shift to focusing on climate friendly businesses, Saudi Arabian Oil Company (TADAWUL:2222.SR) announced in February 2023 that it is backing a U.S. startup that aims to turn ammonia into hydrogen for trucks.
Disclosure: None. You can also take a peek at 15 Largest Australian Companies by Revenue and 15 Biggest Chinese State-Owned Companies.
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