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U.S. Energy Sector Analysis

UpdatedJan 25, 2026
DataAggregated Company Financials
Companies441
  • 7D2.9%
  • 3M10.6%
  • 1Y3.8%
  • YTD7.7%

In the last week, the Energy industry is up 2.9%, with Exxon Mobil up 3.9%. During this same period, the Centrus Energy underperformed, falling 11%. This takes the industry's 12 month performance to a gain of 3.8%. As for the next few years, earnings are expected to grow by 12% per annum.

Sector Valuation and Performance

Has the U.S. Energy Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 25 Jan 2026US$2.6tUS$1.9tUS$126.3b16.1x20.2x1.4x
Tue, 23 Dec 2025US$2.3tUS$1.9tUS$126.3b15x18x1.2x
Thu, 20 Nov 2025US$2.3tUS$1.9tUS$125.2b15x18.7x1.3x
Sat, 18 Oct 2025US$2.2tUS$1.9tUS$125.8b13.3x17.7x1.2x
Mon, 15 Sep 2025US$2.3tUS$1.9tUS$125.9b13.6x18.3x1.2x
Wed, 13 Aug 2025US$2.2tUS$1.9tUS$125.9b13.2x17.5x1.2x
Fri, 11 Jul 2025US$2.3tUS$1.9tUS$134.5b12.1x17.3x1.2x
Sun, 08 Jun 2025US$2.2tUS$1.9tUS$134.4b11.7x16.5x1.2x
Tue, 06 May 2025US$2.2tUS$1.9tUS$135.9b11.3x15.9x1.1x
Thu, 03 Apr 2025US$2.5tUS$1.9tUS$143.8b12.9x17x1.3x
Sat, 01 Mar 2025US$2.4tUS$1.9tUS$144.4b12.8x16.3x1.2x
Mon, 27 Jan 2025US$2.5tUS$1.9tUS$159.4b12.4x15.4x1.3x
Wed, 25 Dec 2024US$2.3tUS$1.9tUS$158.3b11.8x14.2x1.2x
Fri, 22 Nov 2024US$2.5tUS$1.9tUS$159.9b12.2x15.5x1.3x
Sun, 20 Oct 2024US$2.3tUS$2.0tUS$175.9b11.6x13.3x1.2x
Tue, 17 Sep 2024US$2.2tUS$2.0tUS$172.6b11.3x12.7x1.1x
Thu, 15 Aug 2024US$2.3tUS$2.0tUS$172.1b11x13.3x1.2x
Sat, 13 Jul 2024US$2.3tUS$1.9tUS$176.1b11.5x13x1.2x
Mon, 10 Jun 2024US$2.2tUS$1.9tUS$176.3b11.5x12.8x1.2x
Wed, 08 May 2024US$2.3tUS$1.9tUS$176.6b11x13.2x1.2x
Fri, 05 Apr 2024US$2.5tUS$2.0tUS$206.0b10.9x12.1x1.3x
Sun, 03 Mar 2024US$2.2tUS$2.0tUS$208.1b9.1x10.8x1.1x
Tue, 30 Jan 2024US$2.3tUS$2.1tUS$239.8b8.6x9.5x1.1x
Thu, 28 Dec 2023US$2.3tUS$2.1tUS$242.2b8.7x9.5x1.1x
Sat, 25 Nov 2023US$2.3tUS$2.1tUS$242.5b8.8x9.4x1.1x
Mon, 23 Oct 2023US$2.4tUS$2.2tUS$273.0b7.5x8.8x1.1x
Wed, 20 Sep 2023US$2.4tUS$2.2tUS$272.6b7.7x8.8x1.1x
Fri, 18 Aug 2023US$2.7tUS$2.2tUS$272.5b7.8x9.8x1.2x
Sun, 16 Jul 2023US$2.5tUS$2.4tUS$315.8b6.9x7.9x1.1x
Tue, 13 Jun 2023US$2.5tUS$2.4tUS$315.8b7.1x7.8x1x
Thu, 11 May 2023US$2.1tUS$2.4tUS$315.5b6.4x6.7x0.9x
Sat, 08 Apr 2023US$2.2tUS$2.4tUS$280.7b6.9x7.9x0.9x
Mon, 06 Mar 2023US$2.3tUS$2.4tUS$280.7b7.5x8.2x1x
Wed, 01 Feb 2023US$2.4tUS$2.3tUS$262.6b8.1x9.1x1x
Price to Earnings Ratio

9.1x


Total Market Cap: US$2.4tTotal Earnings: US$262.6bTotal Revenue: US$2.3tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Sector Price to Earnings3Y Average 12.9x202420252026
Current Industry PE
  • Investors are optimistic on the American Energy industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 20.2x which is higher than its 3-year average PE of 12.9x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Energy industry have declined 22% per year over the last three years,
  • Revenues have also declined 6.8% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the U.S. Energy sector?

US Market-0.36%
Energy2.86%
Energy Services4.42%
Oil and Gas2.69%
Industry PE
  • Investors are most optimistic about the Energy Services industry which is trading above its 3-year average PE ratio of 24.3x.
    • Analysts are expecting annual earnings growth of 17.4%, which is higher than its past year's earnings decline of 22.3% per year.
  • Investors are most pessimistic about the Oil and Gas industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 12.5x.
Forecasted Growth
  • Analysts are most optimistic on the Energy Services industry, expecting annual earnings growth of 17% over the next 5 years.
  • This is better than its past earnings decline of 22% per year.
  • In contrast, the Oil and Gas industry is expected to see its earnings grow by 11% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
XOM Exxon MobilUS$134.973.9%
+US$21.4b		24.2%PE19x
WMB Williams CompaniesUS$64.965.5%
+US$4.2b		9.0%PE33.5x
SLB SLBUS$49.155.2%
+US$3.7b		16.3%PE21.8x
KMI Kinder MorganUS$29.575.8%
+US$3.6b		-2.3%PE21.5x
EQT EQTUS$55.529.9%
+US$3.1b		3.4%PE19.5x

Latest News

OKE
US$78.00
ONEOK
7D
4.8%
1Y
-25.4%
KMI
US$29.57
Kinder Morgan
7D
5.8%
1Y
-2.3%
EQT
US$55.52
EQT
7D
9.9%
1Y
3.4%

EQT: Integrated Gas Model Will Support Future LNG And Datacenter Demand

The updated analyst price target for EQT edges down from about US$79.99 to US$76.00, reflecting a mix of target cuts and one increase across recent research, as analysts factor in revised assumptions for growth, margins, and future P/E multiples. Analyst Commentary Recent research on EQT includes several target cuts alongside one increase, which helps explain why the average price target has edged lower rather than moving sharply in either direction.
LEU
US$296.19
Centrus Energy
7D
-10.5%
1Y
221.9%

LEU: DOE Funding Uncertainty And Dilution Risk Will Pressure Future Returns

Analysts have nudged their fair value estimate for Centrus Energy up from US$167.90 to US$171.40, citing higher Street price targets and renewed confidence around the US$900m Department of Energy HALEU funding and the timing of future capacity expansion as key drivers of the change. Analyst Commentary Recent Street research around Centrus Energy has centered on the US$900m Department of Energy HALEU award, with analysts updating their assumptions on timing, funding visibility, and dilution.
SLB
US$49.15
SLB
7D
5.2%
1Y
16.3%

SLB: Venezuela Euphoria And Weak Oil Prices Will Pressure Future Returns

Narrative Update Analysts have nudged their SLB price expectations higher, with our fair value estimate moving from US$38.00 to about US$40.07 as they factor in modestly stronger long term revenue growth, slightly higher profit margins, and a higher future P/E multiple supported by a recent wave of price target increases across the Street. Analyst Commentary Recent research on SLB shows a mix of optimism on long term fundamentals and caution on shorter term risks.
WMB
US$64.96
Williams Companies
7D
5.5%
1Y
9.0%
SEI
US$53.70
Solaris Energy Infrastructure
7D
-5.6%
1Y
53.5%

SEI: Expanded 2.2GW Plan Will Support Second Data Center Contract

Narrative Update: Solaris Energy Infrastructure The analyst price target for Solaris Energy Infrastructure has shifted from US$64.60 to US$65.50 as analysts factor in recent target moves up to US$65 and US$61, alongside updated assumptions on discount rate, profit margin, and future P/E, after the company outlined plans for 2.2GW of capacity with 900MW available to support a potential second data center contract. Analyst Commentary Recent research updates give you a clearer picture of how the Street is framing Solaris Energy Infrastructure's risk and reward around its growing capacity plan and potential data center exposure.
MPC
US$175.38
Marathon Petroleum
7D
-0.1%
1Y
15.7%

MPC: Capital Returns And Refining Fundamentals Will Shape Balanced Future Upside

Narrative Update Our Marathon Petroleum fair value estimate moves lower by about US$5 to US$194.61 per share, reflecting a slightly higher discount rate, modestly softer revenue growth and margin assumptions, and a lower future P/E multiple that align with recent analyst price target trims and cautious views on sector outperformance, even as some expect near term refining fundamentals to remain supportive. Analyst Commentary Recent Street research on Marathon Petroleum points to a mixed setup, with most analysts trimming or fine tuning price targets while keeping broadly balanced views on upside potential and execution risks.
SOC
US$10.43
Sable Offshore
7D
-10.2%
1Y
-62.5%
XOM
US$134.97
Exxon Mobil
7D
3.9%
1Y
24.2%

XOM: Cost Savings And Refining Upgrades Will Support Future Cash Flow

Exxon Mobil's analyst price target has been trimmed by about $0.82 to roughly $130.50, as analysts factor in a more cautious crude outlook, slightly lower profit margins and mixed rating changes, while some still highlight resilient free cash flow and an improved refining setup. Analyst Commentary Recent research on Exxon Mobil reflects a mix of optimism about the company’s cash generation and refining position, alongside caution about crude prices and sector sentiment.
MUR
US$31.59
Murphy Oil
7D
-6.9%
1Y
6.2%

MUR: Vietnam Appraisal Optimism Will Likely Outrun Free Cash Flow Strength

Analysts have nudged their price targets on Murphy Oil higher by up to US$3, citing stronger cash flow estimates, production guidance that came in above prior expectations, and growing optimism around the Hai Su Vang appraisal and potential Vietnam update. Analyst Commentary Recent research has been mixed, with several firms lifting their price targets while still flagging execution risks, cash flow sensitivity and valuation constraints versus peers.
PARR
US$35.21
Par Pacific Holdings
7D
-4.5%
1Y
101.2%

PARR: Crude Trade Shifts And Share Buybacks Will Shape Future Earnings Power

Analysts have lifted their fair value estimate for Par Pacific Holdings from US$23.00 to US$39.00, pointing to a higher assumed future P/E of about 16x, a lower discount rate, and shifting views on margins and revenue trends influenced by recent research around crude trade flows and refining supply and demand. Analyst Commentary Recent Street research paints a mixed picture for Par Pacific Holdings, with price targets being trimmed even as some commentary highlights supportive refining fundamentals.
VG
US$9.88
Venture Global
7D
12.3%
1Y
-58.8%
EXE
US$109.49
Expand Energy
7D
9.6%
1Y
3.3%

EXE: Higher 2025 Output Guidance And Completed Buybacks Will Support Bullish Outlook

Analysts have slightly reduced their price target on Expand Energy, citing updated fair value estimates of US$132.04 compared with the prior US$133.39, along with refreshed assumptions for revenue growth, profit margin and future P/E. What's in the News Expand Energy reported that from July 1, 2025 to September 30, 2025, it repurchased 0 shares for US$0 million, completing the previously announced buyback with a total of 851,661 shares repurchased for US$99.99 million, representing 0.36% of shares (Key Developments).
HPK
US$3.94
HighPeak Energy
7D
-14.5%
1Y
-72.1%

HPK: Permian Execution And Debt Reduction Will Drive Future Re Rating Potential

Analysts have reset their fair value estimate for HighPeak Energy from US$31.50 to US$12.00, citing balance sheet concerns, drilling inventory quality and management changes. They still see room for multiple expansion as the company focuses on Permian execution and debt reduction.
WKC
US$26.42
World Kinect
7D
-4.3%
1Y
-8.2%