At $100 Per Barrel, Which Oil Stock Has Dominated in 2026: ExxonMobil, Chevron, or BP?

Energy is back in focus midday Thursday. WTI crude oil is up 6% over the past 24 hours to $91.94 per barrel, and Barron’s reported that WTI briefly hit $100 per barrel earlier today, its first time above $100 in nearly two months, before settling near $91.94. That crude rally is lifting the integrated oil majors across the board.

With oil testing triple digits again, investors are asking a fair question. Among the three most widely held integrated names, ExxonMobil (NYSE:XOM | XOM Price Prediction), Chevron (NYSE:CVX), and BP (NYSE:BP), which stock has actually dominated in 2026?

The short answer: it’s a close race rather than a blowout, and ExxonMobil stock is narrowly out in front year to date (YTD). All three, however, are riding the same tailwind of firmer crude oil prices.

ExxonMobil Leads the 2026 Pack

ExxonMobil stock is up 31% YTD, the best of the three majors. Investors are paying a P/E ratio of 26x for ExxonMobil shares and collecting a dividend yield of 2.67%, the lowest income yield in the trio.

The fundamentals behind the run are solid. ExxonMobil produced 4.6 million oil-equivalent barrels per day and posted a Q1 2026 adjusted EPS of $1.16, topping estimates by 15%. The company is also executing a $20 billion buyback plan in 2026 and just extended its dividend raise streak to 43 consecutive years.

The trade-off is straightforward. ExxonMobil shares offer the smallest current income stream but the cheapest earnings multiple and the strongest 2026 price performance.

Chevron Sits in the Middle

Chevron stock is up 29% YTD, trailing ExxonMobil by only two percentage points. Chevron shares trade at a P/E ratio of 34x and carry a dividend yield of 3.69%, a middle-ground profile on both valuation and income.

Chevron’s Q1 2026 report was one of its stronger recent showings. Chevron’s adjusted EPS came in at $1.41 versus $0.97 expected, a 45% beat and the sixth straight quarter of topping consensus. Chevron’s production climbed to 3,858 MBOED, up 15% year over year (YoY), boosted by the Hess acquisition that closed last year.

Chevron also returned $2.5 billion via buybacks in Q1 and has paid out more than $5 billion to shareholders for 16 straight quarters. Income investors get more yield in Chevron stock than in ExxonMobil, though they’re paying a richer earnings multiple to get it.

BP Offers the Highest Yield

BP stock is up 27% YTD, the smallest gain of the group. BP is a UK-based oil major that trades in the U.S. as an NYSE-listed ADR, which is why it doesn’t appear in most S&P 500 energy funds. BP shares carry a P/E ratio of 36x and a dividend yield of 4.61%, easily the top yield of the three.

Operationally, BP’s first quarter was strong. BP’s EPS per ADS hit $1.24 versus $0.93 expected, powered by an exceptional oil-trading contribution and higher refining margins. However, BP has suspended its share buyback to prioritize balance-sheet repair, targeting net debt of $14 billion to $18 billion by the end of 2027.

BP stock offers the richest income and the most turnaround optionality under new CEO Meg O’Neill. However, it also carries the highest valuation and the smallest 2026 gain.

ETF Exposure and What to Watch

For investors who prefer a basket, the Energy Select Sector SPDR Fund (NYSEARCA:XLE) is the standard vehicle. ExxonMobil is the XLE ETF‘s largest holding at 24%, and Chevron is second at 18%, so the ETF is a top-heavy way to own the two U.S. majors. BP is not held in XLE because it isn’t in the S&P 500, so the fund isn’t a route to BP exposure.

The verdict on the headline: ExxonMobil stock has dominated in 2026, but only just. Chevron stock trails by two points and BP stock by four, and all three are winning primarily because crude oil has rallied. That’s a reminder that these gains depend on a commodity that swung from a 2026 high of $114.58 in April down to the low $70s earlier this month before this week’s rebound.

Investors can pick their trade-off: ExxonMobil for the cheapest multiple and best price action, Chevron for the balanced middle, or BP for income and turnaround upside. The next near-term cue is whether WTI crude oil can hold near $90 into Thursday’s close and whether it can reclaim $100 on a sustained basis, because oil is volatile and cyclical, and today’s tailwind can reverse quickly.

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