Top Energy Stocks by Return on Equity
Top energy companies ranked by return on equity, latest annual filings.
What Return on Equity Means for Energy Companies
Return on Equity divides net income by shareholder equity and shows how efficiently capital produces profit. In energy, the ratio is strongly commodity-dependent, producing dramatic swings between cycle peaks and troughs in oil and gas pricing. A multi-year average across a full commodity cycle reveals capital-allocation discipline, while a single-year reading taken at a price extreme tells you very little about through-cycle efficiency or management's ability to compound per-share value.
Why It Matters Less in Energy
Energy Return on Equity is genuinely informative when averaged over a complete cycle because it reveals capital efficiency across price environments rather than in a single favorable year. However, peak-cycle readings can encourage value-destructive behavior, such as acquisitions and buybacks near price highs, that compresses subsequent-cycle Return on Equity. The sector's historical capital-allocation record at cycle extremes matters as much as any point reading.
What to Read Alongside
Pair Return on Equity with Net Income to see the numerator through commodity cycles, Long-term Debt to check the leverage contribution, and CapEx to see the reinvestment intensity required to sustain production.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | LNG | Cheniere Energy, Inc. | Energy | 85.84% | $56.38B |
| 2 | HESM | Hess Midstream LP | Energy | 80.59% | $5.03B |
| 3 | TRGP | Targa Resources Corp. | Energy | 62.68% | $60.50B |
| 4 | NBR | Nabors Industries Ltd. | Energy | 48.52% | $1.27B |
| 5 | VG | Venture Global, Inc. | Energy | 40.53% | $32.28B |
| 6 | DEC | Diversified Energy Company | Energy | 34.66% | $0.98B |
| 7 | MPLX | MPLX LP | Energy | 34.09% | $59.98B |
| 8 | OII | Oceaneering International, Inc. | Energy | 33.04% | $4.59B |
| 9 | VAL | Valaris Limited | Energy | 30.89% | $5.74B |
| 10 | FTI | TechnipFMC plc | Energy | 28.66% | $27.77B |
| 11 | VIST | Vista Energy, S.A.B. de C.V. | Energy | 28.63% | $7.68B |
| 12 | WES | Western Midstream Partners, LP | Energy | 28.37% | $19.03B |
| 13 | PBR | Petróleo Brasileiro S.A. - Petrobras | Energy | 25.98% | $133.79B |
| 14 | WFRD | Weatherford International plc | Energy | 25.37% | $6.01B |
| 15 | PARR | Par Pacific Holdings, Inc. | Energy | 24.44% | $3.96B |
| 16 | TDW | Tidewater Inc. | Energy | 24.43% | $4.34B |
| 17 | MPC | Marathon Petroleum Corporation | Energy | 23.37% | $109.43B |
| 18 | GPOR | Gulfport Energy Corporation | Energy | 23.33% | $2.80B |
| 19 | AROC | Archrock, Inc. | Energy | 21.61% | $5.33B |
| 20 | AM | Antero Midstream Corporation | Energy | 21.20% | $10.03B |
| 21 | WMB | The Williams Companies, Inc. | Energy | 20.44% | $86.82B |
| 22 | DVN | Devon Energy Corporation | Energy | 17.01% | $51.62B |
| 23 | NFG | National Fuel Gas Company | Energy | 16.76% | $7.60B |
| 24 | ARLP | Alliance Resource Partners, L.P. | Energy | 16.73% | $3.33B |
| 25 | EOG | EOG Resources, Inc. | Energy | 16.69% | $73.18B |
| 26 | MGY | Magnolia Oil & Gas Corporation | Energy | 16.27% | $6.47B |
| 27 | SOBO | South Bow Corporation | Energy | 15.98% | $7.22B |
| 28 | RRC | Range Resources Corporation | Energy | 15.24% | $8.95B |
| 29 | PSX | Phillips 66 | Energy | 15.13% | $102.46B |
| 30 | FRO | Frontline plc | Energy | 15.10% | $10.67B |
| 31 | OKE | ONEOK, Inc. | Energy | 15.09% | $56.79B |
| 32 | CRK | Comstock Resources, Inc. | Energy | 14.95% | $3.91B |
| 33 | CNX | CNX Resources Corporation | Energy | 14.60% | $4.85B |
| 34 | GLP | Global Partners LP | Energy | 14.50% | $1.67B |
| 35 | BKR | Baker Hughes Company | Energy | 13.74% | $56.84B |
| 36 | WHD | Cactus, Inc. | Energy | 13.54% | $4.63B |
| 37 | SM | SM Energy Company | Energy | 13.47% | $8.07B |
| 38 | MTDR | Matador Resources Company | Energy | 13.42% | $6.42B |
| 39 | TRMD | TORM plc | Energy | 12.98% | $3.55B |
| 40 | SLB | SLB N.V. | Energy | 12.92% | $77.35B |
| 41 | CIVI | Civitas Resources, Inc. | Energy | 12.65% | $2.34B |
| 42 | EQNR | Equinor ASA | Energy | 12.49% | $99.11B |
| 43 | COP | ConocoPhillips | Energy | 12.39% | $150.49B |
| 44 | HAL | Halliburton Company | Energy | 12.26% | $27.37B |
| 45 | VTOL | Bristow Group Inc. | Energy | 12.18% | $1.27B |
| 46 | TS | Tenaris S.A. | Energy | 11.73% | $27.98B |
| 47 | CTRA | Coterra Energy Inc. | Energy | 11.57% | $24.72B |
| 48 | TTE | TotalEnergies SE | Energy | 11.37% | $198.48B |
| 49 | XOM | ExxonMobil Holdings Corporation | Energy | 11.12% | $652.60B |
| 50 | OVV | Ovintiv Inc. | Energy | 11.09% | $16.27B |
| 51 | MRC | MRC Global Inc. | Energy | 10.66% | $1.17B |
| 52 | SHEL | Shell plc | Energy | 10.33% | $268.06B |
| 53 | VLO | Valero Energy Corporation | Energy | 9.90% | $108.59B |
| 54 | CRC | California Resources Corporation | Energy | 9.88% | $4.62B |
| 55 | KMI | Kinder Morgan, Inc. | Energy | 9.81% | $69.63B |
| 56 | EXE | Expand Energy Corporation | Energy | 9.79% | $20.15B |
| 57 | DTM | DT Midstream, Inc. | Energy | 9.31% | $12.75B |
| 58 | ET | Energy Transfer LP | Energy | 9.05% | $70.24B |
| 59 | BKV | BKV Corporation | Energy | 9.02% | $2.51B |
| 60 | AR | Antero Resources Corporation | Energy | 8.94% | $10.58B |
| 61 | EQT | EQT Corporation | Energy | 8.59% | $31.49B |
| 62 | EE | Excelerate Energy, Inc. | Energy | 7.49% | $1.08B |
| 63 | LBRT | Liberty Energy Inc. | Energy | 7.11% | $2.94B |
| 64 | WDS | Woodside Energy Group Ltd | Energy | 6.87% | $42.38B |
| 65 | KGS | Kodiak Gas Services, Inc. | Energy | 6.67% | $5.53B |
| 66 | CVX | Chevron Corporation | Energy | 6.60% | $415.02B |
| 67 | SUN | Sunoco LP | Energy | 6.58% | $13.78B |
| 68 | OXY | Occidental Petroleum Corporation | Energy | 6.57% | $56.29B |
| 69 | DINO | HF Sinclair Corporation | Energy | 6.30% | $18.97B |
| 70 | EFXT | Enerflex Ltd. | Energy | 5.86% | $2.73B |
| 71 | CMBT | Cmb.Tech NV | Energy | 5.30% | $5.61B |
| 72 | NESR | National Energy Services Reunited Corp. | Energy | 5.28% | $3.34B |
| 73 | NE | Noble Corporation plc | Energy | 4.76% | $7.19B |
| 74 | FANG | Diamondback Energy, Inc. | Energy | 4.18% | $51.66B |
| 75 | CVI | CVR Energy, Inc. | Energy | 3.70% | $5.24B |
| 76 | BORR | Borr Drilling Limited | Energy | 3.68% | $1.38B |
| 77 | XPRO | Expro Ltd | Energy | 3.29% | $1.84B |
| 78 | RES | RPC, Inc. | Energy | 2.92% | $1.27B |
| 79 | WTTR | Select Water Solutions, Inc. | Energy | 2.63% | $2.61B |
| 80 | CRGY | Crescent Energy Company | Energy | 2.57% | $4.30B |
| 81 | NOV | NOV Inc. | Energy | 2.31% | $7.19B |
| 82 | MUR | Murphy Oil Corporation | Energy | 2.04% | $5.07B |
| 83 | HLX | Helix Energy Solutions Group Inc | Energy | 1.95% | $1.56B |
| 84 | NOG | Northern Oil and Gas, Inc. | Energy | 1.82% | $2.43B |
| 85 | BP | BP p.l.c. | Energy | 1.75% | $111.00B |
| 86 | CHRD | Chord Energy Corporation | Energy | 0.55% | $7.43B |
| 87 | PUMP | ProPetro Holding Corp. | Energy | 0.10% | $1.23B |
| 88 | PR | Permian Resources Corporation | Energy | 0.01% | $17.83B |
No companies match this search.
Companies with return on equity above 500%, or shareholder equity below 1% of total assets, are excluded: when equity is near zero the ratio becomes unstable and unrepresentative. Ratio rankings also require at least $1B in annual revenue.
How this ranking is built
Companies are ranked by return on equity 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 500% 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.