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

Exxon Mobil

Market Cap: US$680.7b

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

Chevron

Market Cap: US$396.8b

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

Williams Companies

Market Cap: US$88.8b

Operates as an energy infrastructure company primarily in the United States.

SLB

Market Cap: US$74.7b

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

Kinder Morgan

Market Cap: US$73.8b

Operates as an energy infrastructure company primarily in North America.

Valero Energy

Market Cap: US$73.4b

Manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally.

Marathon Petroleum

Market Cap: US$71.1b

Operates as an integrated downstream energy company in the United States.

Occidental Petroleum

Market Cap: US$62.4b

Engages in the acquisition, exploration, and development of oil and gas properties in the United States and internationally.

Baker Hughes

Market Cap: US$60.2b

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

Cheniere Energy

Market Cap: US$59.7b

An energy infrastructure company, primarily engages in the liquefied natural gas (LNG) related businesses in the United States.

Targa Resources

Market Cap: US$52.8b

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

Venture Global

Market Cap: US$39.2b

A liquefied natural gas (LNG) company, engages in the ownership, development, construction, and operation of LNG production facilities and associated infrastructure in the U.S.

DT Midstream

Market Cap: US$13.6b

Provides integrated natural gas services in the United States.

Range Resources

Market Cap: US$10.3b

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

Transocean

Market Cap: US$7.3b

Provides offshore contract drilling services for oil and gas wells in Switzerland and internationally.

NOV

Market Cap: US$6.8b

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.

Archrock

Market Cap: US$6.1b

Operates as an energy infrastructure company in the United States.

Golar LNG

Market Cap: US$5.7b

Designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas.

PBF Energy

Market Cap: US$5.5b

Through its subsidiaries, engages in the refining and supplying of petroleum products.

Tidewater

Market Cap: US$4.2b

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.

Scorpio Tankers

Market Cap: US$3.6b

Engages in the seaborne transportation of crude oil and refined petroleum products worldwide.

Helmerich & Payne

Market Cap: US$3.5b

Provides drilling solutions and technologies for oil and gas exploration and production companies.

CVR Energy

Market Cap: US$3.3b

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

Par Pacific Holdings

Market Cap: US$3.2b

An energy company, provides renewable and conventional fuels in the United States.

Northern Oil and Gas

Market Cap: US$3.0b

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

Talos Energy

Market Cap: US$2.7b

Through its subsidiaries, engages in the exploration and production of oil and gas in the United States and Mexico.

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.

ProPetro Holding

Market Cap: US$1.7b

Operates as an integrated energy services company.

REX American Resources

Market Cap: US$1.5b

Produces and sells ethanol in the United States.

DorianG

Market Cap: US$1.5b

Engages in the transportation of liquefied petroleum gas through its LPG tankers worldwide.

Helix Energy Solutions Group

Market Cap: US$1.4b

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.

TETRA Technologies

Market Cap: US$1.1b

Operates as an energy services and solutions company.

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.

Vitesse Energy

Market Cap: US$723.5m

Engages in the acquisition, development, and production of non-operated oil and natural gas properties in the United States.

Forum Energy Technologies

Market Cap: US$670.0m

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

FutureFuel

Market Cap: US$183.8m

Manufactures and sells diversified inorganic chemicals, bio-based fuel, and bio-based specialty chemical products in the United States.