Top 15 Oil & Gas Exploration & Production Stocks
Marvin's rules ranked 15 oil and gas exploration and production companies by Overall score. Expand Energy, SandRidge Energy and EQT lead the list as of October 2026. Scores compare each company with others in its industry.
Oil and gas exploration and production companies find and pull crude oil and natural gas out of the ground, then sell it. This list shows the 15 companies in that industry that Marvin's rules rank highest right now, starting with Expand Energy Corporation, SandRidge Energy and EQT Corporation.
Each company has an Overall score built from a quality score, which looks at the strength of the business, and an opportunity score. Alongside those, each entry shows a few plain numbers such as revenue growth, margins, return on equity and debt. Where a number is missing, the entry says so, because a gap limits what can be concluded.
Keep in mind that this is a snapshot, not advice. Results in this industry depend heavily on the prices commodities sell for, which can change quickly. A high score describes how a company compares with its industry today and says nothing about where its stock will go.
The list
How Marvin ranked these stocks
Marvin included companies above a minimum size and ranked them by Marvin scores, highest Overall score first, within the Oil & Gas Exploration & Production industry. The scores are relative to each company's own industry, so a high score means a company looks strong compared with other oil and gas producers, not compared with every stock in the market.
Companies above about $300 million in size, ranked by Marvin scores (0-100, relative to each company's own industry). The Oil & Gas Exploration & Production industry, highest Overall score first.
The stocks, one by one
Expand Energy Corporation EXE
Expand Energy leads with an overall score of 97 and a quality score of 91. Revenue growth was 186.3%, operating margin 26.9% and debt-to-equity only 0.19, which points to low debt. Caution: growth that large is unusual, so check what drove it.
SandRidge Energy, Inc. SD
SandRidge Energy scores 95 overall. Its operating margin of 41.1% and free cash flow margin of 23.6% suggest it keeps a healthy share of each sales dollar, and revenue grew 24.8%. Caution: its debt-to-equity figure is not available, so its debt load cannot be judged here.
EQT Corporation EQT
EQT Corporation has the highest quality score on the list at 97, with an overall score of 93. Operating margin of 42.5%, free cash flow margin of 39.4% and debt-to-equity of 0.22 suggest strong profits and light debt. Caution: return on equity is a more modest 10.7%.
Diversified Energy Company PLC DEC
Diversified Energy Company has an overall score of 91, driven by an opportunity score of 97, and a return on equity of 47.6%. Caution: its quality score is only 58 and debt-to-equity is 3.00, which is high and means it relies heavily on borrowing.
CNX Resources Corporation CNX
CNX Resources has an overall score of 89 and a quality score of 93. Revenue grew 76.8%, free cash flow margin is 20.2% and debt-to-equity is 0.49, which looks moderate. Caution: its operating margin is not available, so profitability is only partly visible.
Gulfport Energy Corp GPOR
Gulfport Energy has an overall score of 85. Its operating margin of 45.0% and gross margin of 76.3% are strong, and return on equity is 27.2%. Debt-to-equity is 0.50. Caution: free cash flow margin is not available, so cash generation cannot be checked.
Range Resources Corporation RRC
Range Resources has an overall score of 82 and a very high gross margin of 93.9%. Revenue grew 28.9%, return on equity is 18.3% and debt-to-equity is a low 0.22. Caution: operating margin and free cash flow margin are not available, so profit after all costs is unclear.
Diamondback Energy, Inc. FANG
Diamondback Energy has an overall score of 80, helped by a quality score of 95, and revenue grew 35.8%. Caution: operating margin is only 6.3% and return on equity is 3.9%, both thin, and its opportunity score is a lower 59.
SM Energy Company SM
SM Energy has an overall score of 83, lifted by an opportunity score of 88. Operating margin is 29.6%, return on equity is 12.8% and revenue grew 17.2%. Caution: its quality score is a middling 64 and debt-to-equity is not available.
Antero Resources Corporation AR
Antero Resources has an overall score of 78 and a quality score of 75. Operating margin is 24.7%, return on equity is 13.5% and debt-to-equity is 0.58. Caution: revenue growth of 22.0% is modest next to many peers on this list.
Devon Energy Corporation DVN
Devon Energy has an overall score of 72 and a free cash flow margin of 23.9%, which suggests it turns sales into cash well. Debt-to-equity is 0.32. Caution: revenue growth of 7.8% and return on equity of 7.9% are both modest.
Kimbell Royalty Partners, LP KRP
Kimbell Royalty Partners has an overall score of 74 and a quality score of 80, with an operating margin of 40.1% and revenue growth of 7.9%. Caution: its opportunity score is low at 38, and return on equity and debt figures are not available.
Black Stone Minerals, L.P. BSM
Black Stone Minerals has an overall score of 76, a quality score of 84 and a very high operating margin of 64.3%. Revenue grew 8.4%. Caution: its opportunity score is only 39, and return on equity and debt figures are not available.
LandBridge Company LLC LB
LandBridge Company has an overall score of 71, with revenue growth of 81.1%, an operating margin of 61.3% and a free cash flow margin of 67.1%, all strong. Caution: debt-to-equity of 1.51 is the highest on the list apart from one other, and return on equity is 10.5%.
EOG Resources, Inc. EOG
EOG Resources has an overall score of 69, with an operating margin of 32.9%, return on equity of 21.6% and debt-to-equity of 0.26, which suggests solid profits and modest debt. Caution: revenue growth was negative at -4.5%, meaning sales shrank last fiscal year.
Common questions
What does an oil and gas exploration and production company do?
These companies search for oil and natural gas, drill wells and sell what they produce. Because they sell commodities, their revenue and profits tend to move with energy prices, which they do not control.
Why are Marvin's scores relative to each company's industry?
Different industries have different normal levels of margins and debt. Comparing a company only with others in its own industry gives a fairer picture than comparing it with every stock. A high score here means strong for an oil and gas producer.
Does a high score mean a stock is a good one to buy?
No. The scores describe how a company compares with its industry today. They are not a forecast or advice. Also check missing figures, debt and how sensitive the business is to commodity prices before drawing conclusions.
Keep reading
- Top 15 Energy Stocks by Marvin's Opportunity Score
- Top 20 Oil and Gas Stocks Ranked by Marvin Scores
- Top 15 Energy Stocks With the Strongest Businesses
- Top 15 Energy Stocks Right Now, Ranked by Marvin Scores
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Marvin's scores (0-100) compare each company with others in its industry today. Growth and margin figures come from SEC filings. This is general information, not personal investment advice or a recommendation to buy or sell anything. Do your own research.