Top Energy Stocks by Return on Assets
Top energy companies ranked by return on assets, latest annual filings.
What Return on Assets Means for Energy Companies
Return on assets weighs profit against the wells, refineries, pipelines and rigs an energy company has paid for, all recorded at what they cost rather than at what they are currently worth. Commodity prices set the numerator and the balance sheet moves slowly, so the ratio rises and falls with the cycle even when operations are unchanged. The best-run producers show it through lower finding and development costs per barrel.
Why It Matters in Energy
The assets here are real and central to the business, so the ratio does its job, showing which company converts a given base of reserves and plant into profit. Two distortions deserve attention. Weak years bring impairments that shrink the denominator permanently, so the return looks strong when prices recover, partly as an accounting echo of the write-down. And a single strong year says more about the commodity than about the operator, which is why returns held across a full cycle carry the signal.
What to Read Alongside
Pair return on assets with Return on Equity to see how much borrowing sits behind the return, Net Margin for the profitability of each barrel produced, and Total Assets to track how impairments and capital spending reshape the base.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | VAL | Valaris Limited | Energy | 18.46% | $5.94B |
| 2 | CQP | Cheniere Energy Partners, L.P. | Energy | 17.13% | $32.96B |
| 3 | LNG | Cheniere Energy, Inc. | Energy | 14.19% | $57.01B |
| 4 | GPOR | Gulfport Energy Corporation | Energy | 14.13% | $3.18B |
| 5 | TDW | Tidewater Inc. | Energy | 13.97% | $4.58B |
| 6 | OII | Oceaneering International, Inc. | Energy | 13.26% | $5.04B |
| 7 | MPLX | MPLX LP | Energy | 11.51% | $60.66B |
| 8 | MGY | Magnolia Oil & Gas Corporation | Energy | 11.20% | $6.50B |
| 9 | ARLP | Alliance Resource Partners, L.P. | Energy | 10.90% | $3.43B |
| 10 | VIST | Vista Energy, S.A.B. de C.V. | Energy | 10.11% | $8.39B |
| 11 | TS | Tenaris S.A. | Energy | 9.83% | $28.74B |
| 12 | PARR | Par Pacific Holdings, Inc. | Energy | 9.64% | $4.11B |
| 13 | EOG | EOG Resources, Inc. | Energy | 9.61% | $76.25B |
| 14 | FTI | TechnipFMC plc | Energy | 9.53% | $30.65B |
| 15 | PBR | Petróleo Brasileiro S.A. - Petrobras | Energy | 8.87% | $134.24B |
| 16 | RRC | Range Resources Corporation | Energy | 8.87% | $9.79B |
| 17 | WHD | Cactus, Inc. | Energy | 8.87% | $4.85B |
| 18 | TRMD | TORM plc | Energy | 8.49% | $3.58B |
| 19 | DVN | Devon Energy Corporation | Energy | 8.36% | $53.24B |
| 20 | WFRD | Weatherford International plc | Energy | 8.29% | $6.70B |
| 21 | HESM | Hess Midstream LP | Energy | 8.04% | $5.26B |
| 22 | WES | Western Midstream Partners, LP | Energy | 7.87% | $20.42B |
| 23 | SGU | Star Group, L.P. | Energy | 7.84% | $0.42B |
| 24 | TRGP | Targa Resources Corp. | Energy | 7.63% | $63.10B |
| 25 | EPD | Enterprise Products Partners L.P. | Energy | 7.46% | $83.85B |
| 26 | AROC | Archrock, Inc. | Energy | 7.41% | $5.85B |
| 27 | KNTK | Kinetik Holdings Inc. | Energy | 7.41% | $4.42B |
| 28 | AM | Antero Midstream Corporation | Energy | 7.10% | $10.87B |
| 29 | CTRA | Coterra Energy Inc. | Energy | 7.08% | $24.72B |
| 30 | SM | SM Energy Company | Energy | 7.00% | $8.98B |
| 31 | CNX | CNX Resources Corporation | Energy | 6.96% | $5.48B |
| 32 | FRO | Frontline plc | Energy | 6.59% | $10.38B |
| 33 | COP | ConocoPhillips | Energy | 6.55% | $162.23B |
| 34 | MTDR | Matador Resources Company | Energy | 6.48% | $7.40B |
| 35 | EXE | Expand Energy Corporation | Energy | 6.43% | $22.73B |
| 36 | XOM | ExxonMobil Holdings Corporation | Energy | 6.42% | $660.62B |
| 37 | DKL | Delek Logistics Partners, LP | Energy | 6.35% | $3.23B |
| 38 | BKR | Baker Hughes Company | Energy | 6.33% | $63.45B |
| 39 | SLB | SLB N.V. | Energy | 6.15% | $84.74B |
| 40 | OVV | Ovintiv Inc. | Energy | 6.09% | $17.73B |
| 41 | NBR | Nabors Industries Ltd. | Energy | 5.98% | $1.40B |
| 42 | PSX | Phillips 66 | Energy | 5.98% | $103.40B |
| 43 | NFG | National Fuel Gas Company | Energy | 5.95% | $7.97B |
| 44 | PAA | Plains All American Pipeline, L.P. | Energy | 5.87% | $18.32B |
| 45 | PAGP | Plains GP Holdings, L.P. | Energy | 5.66% | $5.56B |
| 46 | CRK | Comstock Resources, Inc. | Energy | 5.65% | $4.45B |
| 47 | CIVI | Civitas Resources, Inc. | Energy | 5.61% | $2.34B |
| 48 | VTOL | Bristow Group Inc. | Energy | 5.58% | $1.29B |
| 49 | DEC | Diversified Energy Company | Energy | 5.53% | $1.09B |
| 50 | HAL | Halliburton Company | Energy | 5.13% | $30.66B |
| 51 | VG | Venture Global, Inc. | Energy | 5.11% | $36.83B |
| 52 | AR | Antero Resources Corporation | Energy | 5.10% | $12.01B |
| 53 | OKE | ONEOK, Inc. | Energy | 5.09% | $61.47B |
| 54 | CRC | California Resources Corporation | Energy | 4.90% | $4.94B |
| 55 | SHEL | Shell plc | Energy | 4.89% | $272.72B |
| 56 | EQT | EQT Corporation | Energy | 4.88% | $34.48B |
| 57 | MPC | Marathon Petroleum Corporation | Energy | 4.82% | $111.70B |
| 58 | TTE | TotalEnergies SE | Energy | 4.59% | $199.36B |
| 59 | BKV | BKV Corporation | Energy | 4.55% | $2.93B |
| 60 | WMB | The Williams Companies, Inc. | Energy | 4.47% | $92.75B |
| 61 | DTM | DT Midstream, Inc. | Energy | 4.38% | $13.38B |
| 62 | CAPL | CrossAmerica Partners LP | Energy | 4.34% | $0.88B |
| 63 | KMI | Kinder Morgan, Inc. | Energy | 4.20% | $71.21B |
| 64 | LBRT | Liberty Energy Inc. | Energy | 4.16% | $3.49B |
| 65 | WDS | Woodside Energy Group Ltd | Energy | 4.12% | $44.64B |
| 66 | VLO | Valero Energy Corporation | Energy | 4.05% | $110.23B |
| 67 | EE | Excelerate Energy, Inc. | Energy | 4.04% | $1.23B |
| 68 | SOBO | South Bow Corporation | Energy | 3.87% | $7.88B |
| 69 | EQNR | Equinor ASA | Energy | 3.84% | $102.92B |
| 70 | CVX | Chevron Corporation | Energy | 3.80% | $409.19B |
| 71 | MNR | Mach Natural Resources LP | Energy | 3.79% | $2.12B |
| 72 | DINO | HF Sinclair Corporation | Energy | 3.51% | $19.26B |
| 73 | MRC | MRC Global Inc. | Energy | 3.39% | $1.17B |
| 74 | ET | Energy Transfer LP | Energy | 3.14% | $74.07B |
| 75 | NE | Noble Corporation plc | Energy | 2.88% | $7.33B |
| 76 | OXY | Occidental Petroleum Corporation | Energy | 2.81% | $60.63B |
| 77 | NESR | National Energy Services Reunited Corp. | Energy | 2.76% | $3.45B |
| 78 | GLP | Global Partners LP | Energy | 2.54% | $1.80B |
| 79 | EFXT | Enerflex Ltd. | Energy | 2.38% | $2.75B |
| 80 | XPRO | Expro Ltd | Energy | 2.23% | $2.03B |
| 81 | FANG | Diamondback Energy, Inc. | Energy | 2.18% | $55.91B |
| 82 | RES | RPC, Inc. | Energy | 2.18% | $1.45B |
| 83 | KGS | Kodiak Gas Services, Inc. | Energy | 1.86% | $6.48B |
| 84 | SUN | Sunoco LP | Energy | 1.86% | $14.49B |
| 85 | CMBT | Cmb.Tech NV | Energy | 1.66% | $5.58B |
| 86 | WTTR | Select Water Solutions, Inc. | Energy | 1.33% | $2.68B |
| 87 | NOV | NOV Inc. | Energy | 1.28% | $7.63B |
| 88 | BORR | Borr Drilling Limited | Energy | 1.24% | $1.37B |
| 89 | HLX | Helix Energy Solutions Group, Inc. | Energy | 1.18% | $1.56B |
| 90 | CRGY | Crescent Energy Company | Energy | 1.07% | $4.69B |
| 91 | MUR | Murphy Oil Corporation | Energy | 1.06% | $5.39B |
| 92 | CVI | CVR Energy, Inc. | Energy | 0.73% | $4.64B |
| 93 | NOG | Northern Oil and Gas, Inc. | Energy | 0.72% | $2.74B |
| 94 | BP | BP p.l.c. | Energy | 0.46% | $115.58B |
| 95 | CHRD | Chord Energy Corporation | Energy | 0.34% | $8.07B |
| 96 | PUMP | ProPetro Holding Corp. | Energy | 0.06% | $1.48B |
| 97 | PR | Permian Resources Corporation | Energy | 0.01% | $19.81B |
No companies match this search.
How this ranking is built
Companies are ranked by return on assets as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Size floor: A company qualifies at $1 billion in annual revenue or above, so a small filer with a freak ratio cannot top the list.
- Value range: Only figures above 0% and up to 100% qualify.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.