Top 15 Energy Companies With the Highest Upside Potential

11. ConocoPhillips (NYSE:COP)

Upside Potential as of April 28: 34.93%

ConocoPhillips (NYSE:COP) is one of the world’s largest independent E&P companies based on oil and natural gas production and proved reserves.

ConocoPhillips (NYSE:COP) significantly bolstered its position with the $22.5 billion acquisition of Marathon Oil last year, which added high-quality, low-cost supply inventory to its portfolio. As a result, the company posted strong results in Q4 2024, reporting an adjusted EPS of $1.98 and topping expectations by $0.15. The company’s revenue of $14.74 billion also beat estimates by almost $515 million. COP’s production also rose 14.8% YoY to 2.183 million boe/d in Q4 2024.

ConocoPhillips (NYSE:COP) took on about $5.4 billion of Marathon’s debt following its acquisition and is now looking to divest some of its assets. The company has also recently announced plans to reduce its workforce as part of a broader initiative to cut costs and streamline operations, especially at a time when the oil sector is struggling with declining prices.

ConocoPhillips (NYSE:COP) is known for its commitment to shareholders and returned $9.1 billion in the form of buybacks and dividends in FY 2024, representing 45% of CFO and well above its 30% commitment. The company has grown its dividend for 10 consecutive years and plans to return $10 billion in 2025, putting it among the 10 Energy Stocks with Fat Dividends.