U.S. Energy Undervalued over 20% based on DCF

ExxonMobil Holdings

Market Cap: US$678.9b

Engages in the exploration and production of crude oil and natural gas in the United States, Canada, and internationally.

Chevron

Market Cap: US$402.7b

Through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally.

Phillips 66

Market Cap: US$96.9b

Operates as an integrated downstream energy provider in the United States, the United Kingdom, Germany, and internationally.

SLB

Market Cap: US$80.0b

Engages in the provision of technology for the energy industry worldwide.

Kinder Morgan

Market Cap: US$69.0b

Operates as an energy infrastructure company primarily in North America.

Targa Resources

Market Cap: US$64.1b

Owns, operates, acquires, and develops a portfolio of complementary domestic infrastructure assets in North America.

Baker Hughes

Market Cap: US$61.9b

Provides a portfolio of technologies and services to energy and industrial value chain.

TechnipFMC

Market Cap: US$30.4b

Engages in the oil and natural gas projects, technologies, systems, and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally.

Texas Pacific Land

Market Cap: US$26.5b

Engages in the land and resource management, and water services and operations businesses.

Frontline

Market Cap: US$9.7b

A shipping company, engages in the ownership and operation of oil and product tankers worldwide.

Range Resources

Market Cap: US$9.6b

Operates as an independent natural gas, natural gas liquids (NGLs), and oil company in the United States.

NOV

Market Cap: US$7.3b

Designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally.

Cactus

Market Cap: US$5.6b

Designs, manufactures, sells, and rents engineered pressure control and spoolable pipe technologies in the United States, Australia, Canada, the Middle East, and internationally.

Murphy Oil

Market Cap: US$5.4b

Operates as an oil and gas exploration and production company in the United States, Canada, and internationally.

International Seaways

Market Cap: US$4.9b

Owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade.

Tidewater

Market Cap: US$4.7b

Provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of offshore marine service vessels worldwide.

Calumet

Market Cap: US$4.3b

Manufactures, formulates, and markets a slate of specialty branded products and renewable fuels in North America and internationally.

Comstock Resources

Market Cap: US$4.2b

An independent energy company, engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States.

CVR Energy

Market Cap: US$4.0b

Engages in renewable fuels and petroleum refining and marketing, and nitrogen fertilizer manufacturing activities in the United States.

EagleRock Land

Market Cap: US$3.5b

Operates as a land management company.

Seadrill

Market Cap: US$3.0b

Provides offshore drilling services to the oil and gas industry worldwide.

Select Water Solutions

Market Cap: US$2.7b

Provides water management solutions to the energy industry in the United States.

Rattler Midstream

Market Cap: US$2.2b

Rattler Midstream LP owns, operates, develops, and acquires midstream and energy-related infrastructure assets in the Midland and Delaware Basins of the Permian Basin.

Helix Energy Solutions Group

Market Cap: US$1.5b

An offshore energy services company, provides specialty services to the offshore energy industry in Brazil, the United States, North Sea, the Asia Pacific, West Africa, and internationally.

RPC

Market Cap: US$1.4b

Engages provision of a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties.

Navigator Holdings

Market Cap: US$1.4b

Owns and operates a fleet of liquefied gas carriers worldwide.

Sabine Royalty Trust

Market Cap: US$1.1b

Sabine Royalty Trust holds royalty and mineral interests in various producing oil and gas properties in the United States.

Forum Energy Technologies

Market Cap: US$870.7m

Designs, manufactures, and supplies products serving the oil, natural gas, defense, and renewable energy industries in the United States and internationally.

Presidio Production

Market Cap: US$366.2m

An independent energy company, engages in the acquisition, development, exploration, and production of oil and natural gas properties in the United States.

StealthGas

Market Cap: US$358.1m

Provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users in Greece and internationally.

Redfield Energy

Market Cap: US$81.7m

A dry mill plant, engages in the production of ethanol from processing bushels of corn.

Cross Timbers Royalty Trust

Market Cap: US$64.9m

Operates as an express trust in the United States.

Reserve Petroleum

Market Cap: US$32.1m

Operates as an independent oil and gas company in the United States.