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 Q3 2022.
The top 20 at Q3 2023
Q3 2023 vs Q3 2022: combined net profit $40.3B (−32%), median EPS −30% (6 of 20 up), market-cap-weighted price +22%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Exxon Mobil Corporation | 26.2% | 4.68 → 2.25 | −52% | −16.0 pp | +39% |
| 2 | Chevron Corporation | 17.5% | 5.78 → 3.48 | −40% | −7.1 pp | +19% |
| 3 | ConocoPhillips | 7.9% | 3.55 → 2.31 | −35% | −2.6 pp | +21% |
| 4 | Slb N.V. | 4.6% | 0.63 → 0.78 | +24% | +0.3 pp | +63% |
| 5 | EOG Resources, Inc. | 4.1% | 4.86 → 3.48 | −28% | −1.2 pp | +13% |
| 6 | Enbridge Inc. | 3.8% | 0.67 → 0.26 | −61% | −1.1 pp | −10% |
| 7 | Marathon Petroleum Corporation | 3.3% | 9.06 → 8.28 | −9% | −1.8 pp | +61% |
| 8 | Enterprise Products Partners L.P. | 3.3% | 0.62 → 0.60 | −3% | −0.1 pp | +15% |
| 9 | Occidental Petroleum Corporation | 3.2% | 2.52 → 1.20 | −52% | −2.0 pp | +8% |
| 10 | Pioneer Natural Resources Company | 3.0% | 7.94 → 5.41 | −32% | −1.0 pp | +9% |
| 11 | Phillips 66 | 3.0% | 11.16 → 4.69 | −58% | −5.0 pp | +51% |
| 12 | Valero Energy Corporation | 2.7% | 7.22 → 7.49 | +4% | −0.3 pp | +36% |
| 13 | Hess Corporation | 2.6% | 1.67 → 1.64 | −2% | 0.0 pp | +41% |
| 14 | Energy Transfer LP | 2.4% | 0.29 → 0.15 | −48% | −0.6 pp | +27% |
| 15 | The Williams Companies, Inc. | 2.3% | 0.49 → 0.54 | +10% | +0.1 pp | +18% |
| 16 | Cheniere Energy, Inc. | 2.2% | −9.54 → 7.03 | turned profitable | +6.2 pp | 0% |
| 17 | Kinder Morgan, Inc. | 2.0% | 0.25 → 0.24 | −4% | −0.1 pp | 0% |
| 18 | Halliburton Company | 2.0% | 0.60 → 0.79 | +32% | +0.3 pp | +64% |
| 19 | Baker Hughes Company | 2.0% | −0.02 → 0.51 | turned profitable | +0.8 pp | +69% |
| 20 | MPLX Lp | 2.0% | 1.39 → 0.89 | −36% | −0.8 pp | +19% |
| Sector earnings growth | 100% | −32.1 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 year on year, 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 | −52% | −38% | −26% | +10% | −15% | −10% | −15% | −23% | −8% | −11% | −43% | +112% |
| CVX | −40% | −63% | −14% | −24% | −29% | +51% | −33% | −40% | −27% | −24% | −44% | +321% |
| COP | −35% | −3% | −10% | +8% | −24% | −25% | +4% | −21% | −22% | −39% | −20% | +107% |
| SLB | +24% | +4% | +14% | +7% | +6% | 0% | −22% | −4% | −40% | −31% | −14% | −30% |
| EOG | −28% | −12% | −10% | +11% | −15% | −35% | −15% | −17% | −8% | −42% | +40% | +109% |
| ENB | −61% | turned profitable | −21% | −5% | +127% | −73% | +54% | +16% | −49% | +305% | sources disagree | −36% |
| MPC | −9% | −46% | −58% | −18% | −77% | −70% | to loss | −9% | +141% | +342% | turned profitable | +346% |
| EPD | −3% | +9% | +5% | +11% | +8% | +3% | −3% | +5% | −6% | +3% | +6% | +27% |
| OXY | −52% | −38% | −25% | +64% | −18% | to loss | +3% | −75% | −34% | loss, smaller | +312% | outside |
| PXD | −32% | −12% | −9% | outside | outside | outside | outside | outside | outside | outside | outside | outside |
| PSX | −58% | −28% | −59% | −36% | −83% | −100% | −32% | −10% | −61% | +98,119% | −57% | +344% |
| VLO | +4% | −56% | −55% | −50% | −85% | outside | outside | −16% | +210% | +320% | turned profitable | +454% |
| HES | −2% | −34% | +180% | +531% | −1% | +31% | −43% | — | outside | outside | outside | outside |
| ET | −48% | +9% | 0% | +40% | +113% | −22% | +13% | −9% | −16% | +38% | −3% | +84% |
| WMB | +10% | +69% | −32% | −13% | +7% | −57% | +10% | +36% | −9% | +50% | +25% | +51% |
| LNG | turned profitable | −64% | −90% | −32% | −44% | −25% | −26% | +90% | +21% | +147% | to loss | +101% |
| KMI | −4% | −10% | +10% | 0% | +17% | +11% | −3% | +23% | 0% | +50% | +38% | +22% |
| HAL | +32% | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside |
| BKR | turned profitable | +139% | outside | outside | outside | +174% | −11% | outside | −21% | −25% | +133% | −3% |
| MPLX | −36% | +42% | +8% | +25% | +13% | −4% | +12% | −10% | +50% | +9% | −18% | +3% |