Sector analysis · US
Energy: which companies drove growth
The 20 largest Energy companies by market cap at the end of Q1 2025 (31 Mar 2025), compared with Q4 2024.
The top 20 at Q1 2025
Q1 2025 vs Q4 2024: combined net profit $28.7B (+9%), median EPS +3% (13 of 20 up), market-cap-weighted price +7%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Exxon Mobil Corporation | 26.7% | 1.72 → 1.76 | +2% | +0.4 pp | +7% |
| 2 | Chevron Corporation | 14.9% | 1.84 → 2.00 | +9% | +1.0 pp | +16% |
| 3 | ConocoPhillips | 6.9% | 1.90 → 2.23 | +17% | +2.0 pp | −1% |
| 4 | Enbridge Inc. | 5.0% | 0.22 → 1.03 | +368% | +6.7 pp | +7% |
| 5 | Enterprise Products Partners L.P. | 3.9% | 0.73 → 0.64 | −12% | −0.9 pp | +9% |
| 6 | The Williams Companies, Inc. | 3.8% | 0.40 → 0.57 | +42% | +0.8 pp | +11% |
| 7 | EOG Resources, Inc. | 3.6% | 2.23 → 2.65 | +19% | +0.8 pp | +5% |
| 8 | Energy Transfer LP | 3.3% | 0.29 → 0.36 | +24% | +0.9 pp | −5% |
| 9 | Kinder Morgan, Inc. | 3.3% | 0.30 → 0.32 | +7% | +0.2 pp | +4% |
| 10 | ONEOK, Inc. | 3.2% | 1.57 → 1.04 | −34% | −1.1 pp | −3% |
| 11 | Slb N.V. | 2.9% | 0.77 → 0.58 | −25% | −1.1 pp | +12% |
| 12 | MPLX Lp | 2.8% | 1.07 → 1.10 | +3% | +0.1 pp | +12% |
| 13 | Cheniere Energy, Inc. | 2.7% | 4.33 → 1.57 | −64% | −2.3 pp | +7% |
| 14 | Phillips 66 | 2.6% | 0.01 → 1.18 | +16,064% | +1.8 pp | +10% |
| 15 | Hess Corporation | 2.6% | 1.76 → 1.81 | +3% one source | −0.4 pp | +20% |
| 16 | Occidental Petroleum Corporation | 2.5% | −0.31 → 0.77 | turned profitable | +4.0 pp | 0% |
| 17 | Diamondback Energy, Inc. | 2.4% | 3.67 → 4.83 | +32% | +1.2 pp | −1% |
| 18 | Marathon Petroleum Corporation | 2.3% | 1.16 → −0.24 | to loss | −1.7 pp | +6% |
| 19 | Baker Hughes Company | 2.3% | 1.18 → 0.40 | −66% | −2.9 pp | +7% |
| 20 | Targa Resources Corp. | 2.3% | 1.45 → 0.91 | −37% | −0.6 pp | +13% |
| Sector earnings growth | 100% | +8.9 pp |
Who joined and who left
0 joined and 0 left the top 20 since Q4 2024, as market caps moved.
Joined the top 20 since Q4 2024
Left the top 20 since Q4 2024
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% |
| ENB | −71% | +212% | −17% | +28% | −31% | −63% | +368% | −3% | −70% | +197% | sources disagree | sources disagree |
| EPD | +5% | +18% | −7% | −5% | +3% | +12% | −12% | +3% | −8% | +23% | −9% | +24% |
| WMB | +42% | +72% | −44% | −37% | +76% | −31% | +42% | −21% | +18% | +13% | +18% | −4% |
| EOG | +31% | −2% | −9% | −5% | 0% | −24% | +19% | −7% | +10% | −52% | +185% | +39% |
| ET | −40% | +147% | −14% | +9% | −9% | −9% | +24% | −11% | −16% | +48% | −13% | +69% |
| KMI | −8% | +13% | +22% | −21% | +8% | +7% | +7% | 0% | −12% | +61% | −2% | −11% |
| OKE | outside | +19% | −8% | +22% | −11% | +33% | −34% | +29% | +11% | +4% | −21% | +24% |
| SLB | +8% | −1% | −4% | +4% | +8% | −7% | −25% | +28% | −32% | +6% | −6% | +4% |
| MPLX | −2% | +25% | −12% | +16% | −11% | +6% | +3% | −6% | +48% | −23% | −23% | +18% |
| LNG | +25% | −18% | −63% | +80% | +2% | +10% | −64% | +365% | −35% | +125% | to loss | turned profitable |
| PSX | +26% | −39% | −39% | +38% | −66% | −99% | +16,064% | +82% | −85% | +2,141% | −93% | +1,773% |
| HES | +321% | −18% | +136% | −22% | −34% | +9% | +3% | — | outside | outside | outside | outside |
| OXY | +91% | −10% | −30% | +37% | −5% | to loss | turned profitable | −66% | +150% | to loss | turned profitable | outside |
| FANG | outside | outside | outside | +9% | −32% | +15% | +32% | −51% | +47% | to loss | turned profitable | +8,213% |
| MPC | +56% | −54% | −33% | +67% | −57% | −38% | to loss | turned profitable | +14% | +14% | −66% | +922% |
| BKR | +27% | −16% | outside | outside | outside | +53% | −66% | outside | −14% | +44% | +6% | −26% |
| TRGP | outside | outside | outside | outside | outside | −17% | −37% | outside | outside | outside | outside | +61% |