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U.S. Energy Sector Analysis

UpdatedApr 28, 2026
DataAggregated Company Financials
Companies429
  • 7D3.1%
  • 3M14.4%
  • 1Y35.7%
  • YTD24.3%

In the last week, the Energy industry is up 3.1%, with Baker Hughes up 13%. This means that the industry has gained 36% over the past year. Earnings are forecast to grow by 10% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 28 Apr 2026US$2.9tUS$1.9tUS$134.4b17x21.8x1.6x
Thu, 26 Mar 2026US$3.1tUS$1.9tUS$130.6b18.2x23.9x1.7x
Sat, 21 Feb 2026US$2.8tUS$1.9tUS$130.0b17.1x21.6x1.5x
Mon, 19 Jan 2026US$2.5tUS$1.9tUS$126.3b16.6x19.6x1.3x
Wed, 17 Dec 2025US$2.3tUS$1.9tUS$126.2b14.7x18.4x1.2x
Fri, 14 Nov 2025US$2.3tUS$1.9tUS$125.5b15.7x18.6x1.3x
Sun, 12 Oct 2025US$2.2tUS$1.9tUS$125.9b13.4x17.7x1.2x
Tue, 09 Sep 2025US$2.3tUS$1.9tUS$125.9b13.4x18.1x1.2x
Thu, 07 Aug 2025US$2.3tUS$1.9tUS$128.8b12.4x17.5x1.2x
Sat, 05 Jul 2025US$2.3tUS$1.9tUS$134.5b12.3x17.2x1.2x
Mon, 02 Jun 2025US$2.2tUS$1.9tUS$134.6b11.3x16x1.1x
Wed, 30 Apr 2025US$2.2tUS$1.9tUS$140.3b11.3x15.6x1.1x
Fri, 28 Mar 2025US$2.5tUS$1.9tUS$143.9b13.1x17x1.3x
Sun, 23 Feb 2025US$2.4tUS$1.9tUS$150.0b12.9x16x1.3x
Tue, 21 Jan 2025US$2.5tUS$1.9tUS$158.7b12.7x15.7x1.3x
Thu, 19 Dec 2024US$2.3tUS$1.9tUS$158.5b11.4x14.3x1.2x
Sat, 16 Nov 2024US$2.4tUS$1.9tUS$159.6b12x15.3x1.3x
Mon, 14 Oct 2024US$2.4tUS$2.0tUS$175.8b11.7x13.7x1.2x
Wed, 11 Sep 2024US$2.2tUS$2.0tUS$172.5b10.9x12.8x1.1x
Fri, 09 Aug 2024US$2.2tUS$2.0tUS$173.7b10.8x12.9x1.1x
Sun, 07 Jul 2024US$2.3tUS$1.9tUS$176.1b11.3x12.9x1.2x
Tue, 04 Jun 2024US$2.3tUS$1.9tUS$176.4b11.3x13.2x1.2x
Thu, 02 May 2024US$2.4tUS$2.0tUS$193.4b10.8x12.4x1.2x
Sat, 30 Mar 2024US$2.4tUS$2.0tUS$206.3b10.2x11.8x1.2x
Mon, 26 Feb 2024US$2.2tUS$2.0tUS$207.9b9.5x10.7x1.1x
Wed, 24 Jan 2024US$2.2tUS$2.1tUS$242.2b8.3x9x1.1x
Fri, 22 Dec 2023US$2.3tUS$2.1tUS$242.3b8.7x9.3x1.1x
Sun, 19 Nov 2023US$2.2tUS$2.1tUS$242.6b8.8x9.1x1.1x
Tue, 17 Oct 2023US$2.4tUS$2.2tUS$272.8b7.5x8.8x1.1x
Thu, 14 Sep 2023US$2.4tUS$2.2tUS$272.6b7.8x8.9x1.1x
Sat, 12 Aug 2023US$2.7tUS$2.2tUS$272.9b8x10x1.3x
Mon, 10 Jul 2023US$2.5tUS$2.4tUS$315.8b6.9x7.9x1.1x
Wed, 07 Jun 2023US$2.4tUS$2.4tUS$315.8b7.1x7.7x1x
Fri, 05 May 2023US$2.1tUS$2.4tUS$314.8b6.8x6.6x0.9x
Price to Earnings Ratio

6.6x


Total Market Cap: US$2.1tTotal Earnings: US$314.8bTotal Revenue: US$2.4tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Sector Price to Earnings3Y Average 14.1x202420252026
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 21.8x which is higher than its 3-year average PE of 14.1x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Energy industry have declined 25% per year over the last three years,
  • Revenues have also declined 7.5% 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 Market0.72%
Energy3.06%
Energy Services9.24%
Oil and Gas2.32%
Industry PE
  • Investors are most optimistic about the Energy Services industry which is trading above its 3-year average PE ratio of 23.6x.
    • Analysts are expecting annual earnings growth of 18.2%, which is higher than its past year's earnings decline of 26.6% 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 13.6x.
Forecasted Growth
  • Analysts are most optimistic on the Energy Services industry, expecting annual earnings growth of 18% over the next 5 years.
  • This is better than its past earnings decline of 27% per year.
  • In contrast, the Oil and Gas industry is expected to see its earnings grow by 9.1% 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
BKR Baker HughesUS$68.3813.5%
+US$8.1b		90.4%PE21.8x
COP ConocoPhillipsUS$121.684.5%
+US$6.4b		30.9%PE18.6x
SLB SLBUS$55.235.8%
+US$4.2b		62.0%PE24.8x
MPC Marathon PetroleumUS$227.216.1%
+US$3.9b		65.1%PE16.6x
FANG Diamondback EnergyUS$196.427.1%
+US$3.6b		42.5%PE33.4x

Latest News

BKR
US$68.38
Baker Hughes
7D
13.5%
1Y
90.4%
FRO
US$35.99
Frontline
7D
-2.7%
1Y
120.9%

Frontline: Why High Rates Will Last - Initiating Strong Buy

Apr 27
SLB
US$55.23
SLB
7D
5.8%
1Y
62.0%

SLB N.V.: Geographical Diversification May Deliver Growth, But Expect Near-Term Headwinds

Apr 27
FANG
US$196.42
Diamondback Energy
7D
7.1%
1Y
42.5%
KMI
US$30.95
Kinder Morgan
7D
-3.1%
1Y
14.3%

KMI: Gas Backlog And Project Pipeline Progress Will Shape Future Risk Reward

Analysts have inched their average price target for Kinder Morgan higher by about $0.40, reflecting slightly stronger revenue growth assumptions, a modestly lower future P/E multiple, and broadly supportive recent research updates from major firms. Analyst Commentary Recent research on Kinder Morgan reflects a generally constructive tone, with several firms adjusting price targets and models while a smaller group has started to temper expectations at the margin.
VLO
US$238.25
Valero Energy
7D
5.3%
1Y
107.6%

VLO: Higher Oil Assumptions And Refining Margins Will Shape But Limit Future Upside

The updated analyst price target for Valero Energy edges higher by about $1 to roughly $247 per share. Analysts point to refined assumptions around fair value, a steadier discount rate, and modest tweaks to revenue growth, profit margin, and future P/E expectations following a cluster of recent target hikes from major firms, alongside one downgrade and a list removal.
PSX
US$164.10
Phillips 66
7D
5.4%
1Y
55.1%

PSX: Future Cash Flows Will Reflect Western Gateway Midstream Expansion

Analysts have nudged the Phillips 66 fair value estimate higher by about $2 to roughly $181 per share. This reflects updated price targets that take into account refined oil price assumptions, recent conversations with management, and refreshed earnings models across multiple research firms.
DHT
US$18.34
DHT Holdings
7D
-1.7%
1Y
74.8%

DHT Holdings, Inc. – Q1 2026 Trading Update & Strong Spot Market Momentum

Author: Qudus Adebara (Research Analyst, Wane Trading Club) Performance Overview DHT Holdings, Inc. has released a business update for Q1 2026 , highlighting solid earnings performance driven by strong spot market conditions and improving tanker rates.
MPC
US$227.21
Marathon Petroleum
7D
6.1%
1Y
65.1%

MPC: Oil Price Assumptions And Labor Talks Will Shape Future Returns

The analyst price target for Marathon Petroleum has been revised higher by $10.57 to $247.18. Analysts point to updated fair value estimates, modestly higher revenue growth and profit margin assumptions, as well as a slightly richer future P/E multiple as key drivers for the change.
COP
US$121.68
ConocoPhillips
7D
4.5%
1Y
30.9%

COP: Future Cash Flows Will Reflect Middle East Risks And Portfolio Moves

Analysts have raised ConocoPhillips’ fair value estimate from $131.52 to $138.00. This change reflects updated expectations for revenue growth, profit margins, and a modestly lower assumed future P/E multiple, following a series of higher Street price targets tied to revised oil price assumptions and geopolitical risk.
CLMT
US$30.75
Calumet
7D
-4.1%
1Y
177.7%
GPOR
US$188.11
Gulfport Energy
7D
-0.9%
1Y
5.4%
NAT
US$5.65
Nordic American Tankers
7D
-6.8%
1Y
122.4%
NUAI
US$4.00
New Era Energy & Digital
7D
-12.7%
1Y
316.7%
CVX
US$184.78
Chevron
7D
0.8%
1Y
31.9%

CVX: Firmer Long Term Oil Prices Will Drive Future Cash Returns

Chevron's updated analyst price target has shifted from $203.00 to $213.29 as analysts factor in higher projected revenue growth, slightly better profit margins, and a modestly lower future P/E, supported by a series of recent upgrades and price target increases tied to expectations for firmer long term oil prices. Analyst Commentary Recent research commentary on Chevron clusters around oil price expectations, cash flow potential, and the company’s ability to execute on its project pipeline while maintaining shareholder returns.
EE
US$33.56
Excelerate Energy
7D
-3.7%
1Y
24.8%