Energy stocks with the highest profit margins

Ranked

136

of 167 energy stocks we cover

Median

6.7%

Highest

61.7%

BSM

Range

−71.1% to 61.7%

#	Company	Net margin	Operating margin	Revenue growth (TTM)	Market cap
1	BSMBlack Stone Minerals, Oil & Gas Exploration & Production	61.7%	64.3%	+5.1%	$3.2B
2	TPLTexas Pacific Land, Oil & Gas Exploration & Production	60.3%	74.9%	+20.8%	$23.3B
3	NRPNatural Resource Partners, Coal	58.0%	60.6%	−22.2%	$1.5B
4	SDSandridge Energy, Oil & Gas Exploration & Production	46.1%	41.1%	+23.2%	$547.2M
5	DMLPDorchester Minerals, Oil & Gas Exploration & Production	45.5%	n/m	+13.9%	$1.5B
6	VALValaris, Oil & Gas Drilling	44.0%	11.3%	−13.2%	$6.8B
7	CNXCNX Resources, Oil & Gas Exploration & Production	36.5%	53.4%	+61.9%	$5.4B
8	DTMDT Midstream, Oil & Gas Midstream	35.7%	49.6%	+18.1%	$12.6B
9	FSLRFirst Solar, Solar	32.5%	33.6%	+23.8%	$18.5B
10	GPORGulfport Energy, Oil & Gas Exploration & Production	32.3%	45.0%	+35.2%	$2.9B
11	AMAntero Midstream, Oil & Gas Midstream	30.4%	49.6%	+7.2%	$9.9B
12	OXYOccidental Petroleum, Oil & Gas Exploration & Production	30.3%	27.3%	−13.0%	$64.1B
13	SWXSouthwest Gas, Oil & Gas Midstream	29.8%	28.7%	−37.2%	$6.6B
14	WESWestern Midstream Partners, Oil & Gas Midstream	29.6%	40.2%	+18.0%	$18.6B
15	MGYMagnolia Oil & Gas, Oil & Gas Exploration & Production	28.8%	38.0%	+11.4%	$6.2B
16	EQTEQT, Oil & Gas Exploration & Production	28.4%	42.5%	+32.3%	$34.8B
17	CQPCheniere Energy Partners, Oil & Gas Midstream	27.3%	33.6%	+15.4%	$32B
18	EOGEOG Resources, Oil & Gas Exploration & Production	25.4%	32.9%	+19.1%	$85.5B
19	WMBWilliams Companies, Oil & Gas Midstream	25.2%	38.2%	+8.7%	$87.7B
20	RRCRange Resources, Oil & Gas Exploration & Production	25.0%	34.8%	+23.2%	$10.6B
21	REPXRiley Exploration Permian, Oil & Gas Exploration & Production	24.5%	38.4%	+23.2%	$1.1B
22	CRKComstock Resources, Oil & Gas Exploration & Production	23.3%	28.8%	+31.6%	$4.1B
23	HESMHess Midstream, Oil & Gas Exploration & Production	23.2%	62.1%	+2.8%	$3.9B
24	KRPKimbell Royalty Partners, Oil & Gas Exploration & Production	23.0%	40.1%	+6.2%	$1.9B
25	BKVBKV, Oil & Gas Exploration & Production	22.9%	33.5%	+36.1%	$2.2B
26	DECDiversified Energy, Oil & Gas Exploration & Production	22.6%	32.6%	n/m	$1B
27	VGVenture Global, Oil & Gas Midstream	22.3%	37.6%	+100.7%	$35B
28	AROCArchrock, Oil & Gas Midstream	21.8%	40.0%	+11.5%	$5.1B
29	PRPermian Resources, Oil & Gas Exploration & Production	21.5%	35.8%	+12.8%	$21.3B
30	APAAPA, Oil & Gas Exploration & Production	21.1%	37.5%	−12.4%	$18.2B
31	EXEExpand Energy, Oil & Gas Exploration & Production	20.5%	26.9%	+59.3%	$21.6B
32	MTDRMatador Resources, Oil & Gas Exploration & Production	19.9%	32.2%	−3.6%	$7.4B
33	KMIKinder Morgan, Oil & Gas Midstream	19.3%	29.0%	+12.5%	$76.7B
34	SMSM Energy, Oil & Gas Exploration & Production	18.2%	29.6%	+75.4%	$9.5B
35	ARANTERO RESOURCES, Oil & Gas Exploration & Production	17.7%	24.7%	+25.8%	$12.3B
36	DVNDevon Energy, Oil & Gas Exploration & Production	16.7%	22.7%	+14.6%	$56.5B
37	LBLandBridge Co LLC, Oil & Gas Exploration & Production	16.5%	61.3%	+44.1%	$6.1B
38	CPKChesapeake Utilities, Oil & Gas Midstream	15.1%	27.3%	+14.6%	$3.2B
39	COPConocoPhillips, Oil & Gas Exploration & Production	14.7%	21.2%	+9.6%	$181.2B
40	PNRGPrimeenergy Resources, Oil & Gas Exploration & Production	13.9%	16.6%	−19.4%	$341.4M
41	LNGCheniere Energy, Oil & Gas Midstream	13.6%	29.9%	+17.5%	$61.7B
42	TRGPTarga Resources, Oil & Gas Midstream	13.5%	22.9%	−2.0%	$64.8B
43	CHRDChord Energy, Oil & Gas Exploration & Production	13.4%	19.0%	+19.2%	$8.6B
44	RGCORGC Resources, Oil & Gas Midstream	13.1%	17.3%	+13.8%	$237.8M
45	HCCWarrior MET Coal, Coal	13.0%	13.6%	+37.5%	$4.5B
46	ARLPAlliance Resource Partners, Coal	12.3%	14.7%	−5.1%	$3.4B
47	WHDCactus, Oil & Gas Equipment & Services	12.0%	18.6%	+21.8%	$5.1B
48	INRInfinity Natural Resources, Oil & Gas Exploration & Production	11.7%	40.9%	+75.4%	$909.5M
49	OIIOceaneering International, Oil & Gas Equipment & Services	11.4%	10.4%	+3.0%	$3.9B
50	FTITechnipFMC, Oil & Gas Equipment & Services	11.3%	14.5%	+9.9%	$27.4B
51	BKRBaker Hughes, Oil & Gas Equipment & Services	11.2%	12.0%	+0.4%	$55.5B
52	NGSNatural Gas Services, Oil & Gas Equipment & Services	10.8%	21.6%	+15.4%	$399.5M
53	EPDEnterprise Products Partners, Oil & Gas Midstream	10.8%	13.4%	+6.8%	$80.1B
54	AMPYAmplify Energy, Oil & Gas Exploration & Production	10.6%	19.9%	−23.7%	$190.3M
55	KNTKKinetik, Oil & Gas Midstream	10.4%	10.5%	+14.1%	$9B
56	PARRPAR Pacific, Oil & Gas Exploration & Production	9.9%	13.4%	+13.2%	$3.9B
57	CVXChevron, Oil & Gas Integrated	9.9%	12.4%	+11.2%	$460.8B
58	MURMurphy Oil, Oil & Gas Exploration & Production	9.7%	18.5%	+8.2%	$6.4B
59	OVVOvintiv, Oil & Gas Exploration & Production	9.4%	9.7%	+6.0%	$19.9B
60	OKEONEOK, Oil & Gas Midstream	9.3%	15.5%	+40.8%	$60.4B
61	XOMExxon Mobil, Oil & Gas Integrated	9.1%	10.7%	+9.6%	$753.3B
62	FANGDiamondback Energy, Oil & Gas Exploration & Production	8.6%	6.3%	+21.4%	$57.6B
63	SLBSlb, Oil & Gas Equipment & Services	8.5%	11.4%	+2.5%	$78.7B
64	NBRNabors Industries, Oil & Gas Drilling	7.7%	20.3%	+6.1%	$1.3B
65	WFRDWeatherford International, Oil & Gas Equipment & Services	7.7%	12.7%	−7.2%	$6.2B
66	MNRMach Natural Resources, Oil & Gas Exploration & Production	7.4%	14.4%	+34.4%	$1.8B
67	SEISolaris Energy Infrastructure, Oil & Gas Equipment & Services	7.2%	24.3%	+70.5%	$4.5B
68	HALHalliburton, Oil & Gas Equipment & Services	7.2%	11.4%	+0.6%	$29.1B
69	NCNacco Industries, Coal	6.2%	8.3%	+4.7%	$260.5M
70	INVXInnovex International, Oil & Gas Equipment & Services	6.2%	10.0%	+15.0%	$2.1B
71	DINOHF Sinclair, Oil & Gas Refining & Marketing	6.1%	8.3%	+16.3%	$21.6B
72	FLOCFlowco, Oil & Gas Equipment & Services	6.1%	18.8%	+7.7%	$1.8B
73	KGSKodiak Gas Services, Oil & Gas Midstream	5.8%	27.4%	+8.2%	$4.5B
74	MPCMarathon Petroleum, Oil & Gas Refining & Marketing	5.6%	9.2%	+15.0%	$128.4B
75	PAAPlains All American Pipeline, Oil & Gas Midstream	5.3%	3.1%	+12.2%	$18.8B
76	VLOValero Energy, Oil & Gas Refining & Marketing	5.2%	7.2%	+12.6%	$120.7B
77	VVVValvoline, Oil & Gas Refining & Marketing	5.2%	15.3%	+16.1%	$4B
78	KWRQuaker Chemical, Oil & Gas Refining & Marketing	4.9%	7.7%	+7.8%	$2.7B
79	ETEnergy Transfer, Oil & Gas Midstream	4.9%	10.0%	+33.3%	$69B
80	NENoble, Oil & Gas Drilling	4.9%	11.4%	−11.1%	$7.6B
81	CLBCore Laboratories, Oil & Gas Equipment & Services	4.7%	9.2%	+0.3%	$454.7M
82	PSXPhillips 66, Oil & Gas Refining & Marketing	4.7%	3.9%	+14.4%	$113B
83	GELGenesis Energy, Oil & Gas Midstream	4.3%	19.1%	+16.6%	$1.7B
84	PBFPBF Energy, Oil & Gas Integrated	3.9%	5.8%	+13.5%	$9B
85	DWSNDawson Geophysical, Oil & Gas Midstream	3.5%	4.6%	+86.3%	$63M
86	HOSHornbeck Offshore Services, Oil & Gas Equipment & Services	3.0%	5.6%	+6.2%	$1B
87	VNOMViper Energy, Oil & Gas Exploration & Production	2.9%	12.3%	+107.8%	$16.9B
88	RNGRRanger Energy Services, Oil & Gas Equipment & Services	2.4%	3.7%	+6.1%	$344.2M
89	CNRCore Natural Resources, Coal	2.3%	1.9%	+31.5%	$4.6B
90	WTTRSelect Water Solutions, Oil & Gas Equipment & Services	2.2%	3.5%	−2.0%	$2.5B
91	DKDelek US, Oil & Gas Integrated	1.9%	4.8%	+11.4%	$4.6B
92	SMCSummit Midstream, Oil & Gas Midstream	1.3%	14.6%	+20.9%	$633.8M
93	RESRPC, Oil & Gas Equipment & Services	1.3%	1.9%	+25.4%	$1.4B
94	CRGYCrescent Energy, Oil & Gas Exploration & Production	1.3%	20.6%	+24.3%	$4.6B
95	NOVNOV, Oil & Gas Equipment & Services	1.1%	5.1%	−1.7%	$7B
96	PAGPPlains GP, Oil & Gas Midstream	1.1%	3.1%	+12.2%	$5.7B
97	TTITetra Technologies, Oil & Gas Exploration & Production	1.0%	7.3%	+5.7%	$789.2M
98	LBRTLiberty Energy, Oil & Gas Equipment & Services	0.9%	1.7%	+13.6%	$2.5B
99	CTRICenturi, Oil & Gas Midstream	0.9%	2.7%	+25.2%	$2B
100	CVICVR Energy, Oil & Gas Integrated	0.8%	4.1%	+17.9%	$5.8B

The first 100 of 136.

Not ranked: 7 with a margin moved by items that are not sales, 5 with under $50M of revenue, 1 with a quarter missing, 1 with no margin to measure. 14 companies whose data behind this number has a caveat are left out until it is checked.

A ranking of numbers, not a recommendation. A low multiple can be a bargain or a business in trouble: open the company to see which.