These Are The Ten Most Profitable Companies In Texas

June 28, 2021 4 min read

This story originally appeared on ValueWalk

Texas is the world’s ninth-largest economy. As of 2019, the U.S., with a GDP size of $21.4 trillion, is the world’s largest economy, followed by China, Japan and Germany. As per the IMF ranking of global economies, Texas, with a GDP of $1.9 trillion, is technically at ninth place with Italy being at eighth with a GDP of $2 trillion, and Brazil at tenth with a GDP of $1.8 trillion. Moreover, the state is ranked among the top in the U.S. when it comes to growth prospects, owing to robust employment and income growth forecasts. Texas is home to several world-class companies, and last year, many companies have either moved to or expanded their operations in the state. Let’s take a look at the ten most profitable companies in Texas.

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Ten most profitable companies in Texas

To rank the ten most profitable companies in Texas, we have referred to their latest available profit figures. Following are the ten most profitable companies in Texas:

  1. EOG Resources ($2,734 million)

Founded in 1985, this company explores, develops, produces and markets crude oil and natural gas. The company has more than 2,500 employees, and is headquartered in Houston. William R. Thomas is the CEO of EOG Resources. In the past three months, the shares of the company are up over 17%, while YTD, they are up over 75%.

  1. Phillips 66 ($3,076 million)

Founded in 2012, this company processes, transports, stores and markets fuels and other related products. Phillips 66 operates through the following segments: Marketing & Specialties, Chemicals, Refining and Midstream. The company has more than 14,000 employees, and is headquartered in Houston. Greg C. Garland is the CEO of Phillips 66. In the past three months, the shares of the company are up over 6%, while YTD, they are up over 28%.

  1. Energy Transfer ($3,592 million)

Founded in 1996, this company provides natural gas pipeline transportation and transmission services. The company has more than 11,000 employees, and is headquartered in Dallas. Thomas E. Long/Marshall S. McCrea III are the co-CEO’s of Energy Transfer. In the past three months, the shares of the company are up over 35%, while YTD, they are up over 73%.

  1. USAA ($4,006 million)

Founded in 1922, it is a diversified financial services group of companies that provides insurance, banking and investment services to military members and their families. USAA is a private company. The company has more than 30,000 employees, and is headquartered in San Antonio. Wayne Peacock is the CEO of USAA.

  1. Enterprise Products Partners ($4,591 million)

Founded in 1998, it is a holding company that deals in the production and trade of natural gas and petrochemicals. The company has more than 7,000 employees, and has its headquarters in Houston. A. James Teague and W. Randall Fowler are the CEO’s of Enterprise Products Partners. In the past three months, the shares of the company are up over 5%, while YTD, they are up over 23%.

  1. Dell Technologies ($4,616 million)

Founded in 1984, this company deals in information technology hardware, software, and service solutions. Dell operates through three segments: VMware, CSG (Client Solutions Group), and ISG (Infrastructure Solutions Group). The company has about 158,000 employees, and has its headquarters in Round Rock, TX. Michael S. Dell is the CEO of Dell Technologies. In the past three months, the shares of the company are up over 11%, while YTD, they are up over 35%.

  1. Texas Instruments (5,017 million)

Founded in 1930, this company designs and develops analog and embedded semiconductors for communications equipment, enterprise systems, automotive, industrial and personal electronics. The company has about 30,000 employees, and has its headquarter in Dallas. Richard K. Templeton is the CEO of Texas Instruments. In the past three months, the shares of the company are down almost 1%, while YTD, they are up over 14%.

  1. ConocoPhillips ($7,189 million)

Founded in 1875, this company deals in the exploration, production, transportation and marketing of crude oil, liquefied natural gas, natural gas and more. The company has more than 9,000 employees, and has its headquarters in Houston. Ryan M. Lance is the CEO of ConocoPhillips. In the past three months, the shares of the company are up over 11%, while YTD, they are up more than 50%.

  1. AT&T ($13,903 million)

Founded in 1983, this company deals in telecommunications media and technology services. AT&T operates through Latin America, Communications and WarnerMedia segments. The company has about 230,000 employees, and has its headquarters in Dallas. John T. Stankey is the CEO of AT&T. In the past three months, the shares of the company are down over 4%, while YTD, they are down almost 1%.

  1. Exxon Mobil ($14,340 million)

Founded in 1882, this company explores, develops and distributes oil, gas, and petroleum products. Exxon Mobil has three segments: Upstream, Downstream and Chemical. The company has about 72,000 employees, and is headquartered in Irving, TX. Darren W. Woods is the CEO of Exxon. In the past three months, the shares of the company are up over 12%, while YTD, they are up more than 50%.

https://www.entrepreneur.com/article/375970