Sector analysis · US
Energy: which companies drove growth
The 20 largest Energy companies by market cap at the end of Q3 2023 (30 Sep 2023), compared with Q2 2023.
The top 20 at Q3 2023
Q3 2023 vs Q2 2023: combined net profit $40.3B (+15%), median EPS +22% (16 of 20 up), market-cap-weighted price +10%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Exxon Mobil Corporation | 26.2% | 1.94 → 2.25 | +16% | +3.4 pp | +11% |
| 2 | Chevron Corporation | 17.5% | 3.20 → 3.48 | +9% | +1.5 pp | +7% |
| 3 | ConocoPhillips | 7.9% | 1.84 → 2.31 | +26% | +1.6 pp | +18% |
| 4 | Slb N.V. | 4.6% | 0.72 → 0.78 | +8% | +0.3 pp | +19% |
| 5 | EOG Resources, Inc. | 4.1% | 2.66 → 3.48 | +31% | +1.4 pp | +11% |
| 6 | Enbridge Inc. | 3.8% | 0.91 → 0.26 | −71% | −3.7 pp | −12% |
| 7 | Marathon Petroleum Corporation | 3.3% | 5.31 → 8.28 | +56% | +3.0 pp | +37% |
| 8 | Enterprise Products Partners L.P. | 3.3% | 0.57 → 0.60 | +5% | +0.2 pp | +4% |
| 9 | Occidental Petroleum Corporation | 3.2% | 0.63 → 1.20 | +91% | +1.5 pp | +10% |
| 10 | Pioneer Natural Resources Company | 3.0% | 4.55 → 5.41 | +19% | +0.6 pp | +12% |
| 11 | Phillips 66 | 3.0% | 3.72 → 4.69 | +26% | +1.1 pp | +28% |
| 12 | Valero Energy Corporation | 2.7% | 5.41 → 7.49 | +38% | +1.9 pp | +24% |
| 13 | Hess Corporation | 2.6% | 0.39 → 1.64 | +321% | +1.1 pp | +12% |
| 14 | Energy Transfer LP | 2.4% | 0.25 → 0.15 | −40% | −0.9 pp | +10% |
| 15 | The Williams Companies, Inc. | 2.3% | 0.38 → 0.54 | +42% | +0.6 pp | +3% |
| 16 | Cheniere Energy, Inc. | 2.2% | 5.62 → 7.03 | +25% | +0.9 pp | +10% |
| 17 | Kinder Morgan, Inc. | 2.0% | 0.26 → 0.24 | −8% | −0.2 pp | −3% |
| 18 | Halliburton Company | 2.0% | 0.68 → 0.79 | +16% | +0.3 pp | +23% |
| 19 | Baker Hughes Company | 2.0% | 0.40 → 0.51 | +27% | +0.3 pp | +12% |
| 20 | MPLX Lp | 2.0% | 0.91 → 0.89 | −2% | 0.0 pp | +5% |
| Sector earnings growth | 100% | +14.7 pp |
Who joined and who left
0 joined and 0 left the top 20 since the previous quarter, as market caps moved.
Joined the top 20 since the previous quarter
Left the top 20 since the previous quarter
EPS growth by company, Q3 2023 to Q2 2026
Each company's EPS growth quarter on quarter, every quarter it was in the top 20.
| Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| XOM | +16% | −15% | +8% | +4% | −10% | −10% | +2% | −7% | +7% | −13% | −35% | +248% |
| CVX | +9% | −65% | +143% | −18% | +2% | −26% | +9% | −28% | +26% | −24% | −20% | +450% |
| COP | +26% | +9% | −15% | −8% | −11% | +8% | +17% | −30% | −12% | −16% | +53% | +81% |
| SLB | +8% | −1% | −4% | +4% | +8% | −7% | −25% | +28% | −32% | +6% | −6% | +4% |
| EOG | +31% | −2% | −9% | −5% | 0% | −24% | +19% | −7% | +10% | −52% | +185% | +39% |
| ENB | −71% | +212% | −17% | +28% | −31% | −63% | +368% | −3% | −70% | +197% | sources disagree | sources disagree |
| MPC | +56% | −54% | −33% | +67% | −57% | −38% | to loss | turned profitable | +14% | +14% | −66% | +922% |
| EPD | +5% | +18% | −7% | −5% | +3% | +12% | −12% | +3% | −8% | +23% | −9% | +24% |
| OXY | +91% | −10% | −30% | +37% | −5% | to loss | turned profitable | −66% | +150% | to loss | turned profitable | outside |
| PXD | +19% | −3% | −13% | outside | outside | outside | outside | outside | outside | outside | outside | outside |
| PSX | +26% | −39% | −39% | +38% | −66% | −99% | +16,064% | +82% | −85% | +2,141% | −93% | +1,773% |
| VLO | +38% | −53% | +6% | −28% | −58% | outside | outside | turned profitable | +55% | +6% | +13% | +199% |
| HES | +321% | −18% | +136% | −22% | −34% | +9% | +3% | — | outside | outside | outside | outside |
| ET | −40% | +147% | −14% | +9% | −9% | −9% | +24% | −11% | −16% | +48% | −13% | +69% |
| WMB | +42% | +72% | −44% | −37% | +76% | −31% | +42% | −21% | +18% | +13% | +18% | −4% |
| LNG | +25% | −18% | −63% | +80% | +2% | +10% | −64% | +365% | −35% | +125% | to loss | turned profitable |
| KMI | −8% | +13% | +22% | −21% | +8% | +7% | +7% | 0% | −12% | +61% | −2% | −11% |
| HAL | +16% | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside |
| BKR | +27% | −16% | outside | outside | outside | +53% | −66% | outside | −14% | +44% | +6% | −26% |
| MPLX | −2% | +25% | −12% | +16% | −11% | +6% | +3% | −6% | +48% | −23% | −23% | +18% |