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U.S. Energy Sector Analysis

UpdatedMar 07, 2026
DataAggregated Company Financials
Companies440
  • 7D1.3%
  • 3M22.3%
  • 1Y28.6%
  • YTD22.6%

The Energy industry is up 2.7% in the last week, with Chevron up 3.1%. During this same period, the SLB underperformed, falling 7.9%. This takes the industry's 12 month performance to a gain of 30%. Earnings are forecast to grow by 12% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 07 Mar 2026US$2.9tUS$1.9tUS$130.5b18x22.1x1.5x
Mon, 02 Feb 2026US$2.6tUS$2.4tUS$161.8b16.6x16.2x1.1x
Wed, 31 Dec 2025US$2.3tUS$1.9tUS$126.3b15.3x18.4x1.2x
Fri, 28 Nov 2025US$2.3tUS$1.9tUS$124.8b15.2x18.5x1.2x
Sun, 26 Oct 2025US$2.3tUS$1.9tUS$126.9b14.6x18.1x1.2x
Tue, 23 Sep 2025US$2.3tUS$1.9tUS$125.9b13.5x18.3x1.2x
Thu, 21 Aug 2025US$2.2tUS$1.9tUS$126.2b12.9x17.5x1.2x
Sat, 19 Jul 2025US$2.2tUS$1.9tUS$132.1b12.1x17x1.2x
Mon, 16 Jun 2025US$2.3tUS$1.9tUS$134.4b12.6x17.4x1.2x
Wed, 14 May 2025US$2.2tUS$1.9tUS$135.4b11.9x16.4x1.2x
Fri, 11 Apr 2025US$2.2tUS$1.9tUS$143.8b11x14.9x1.1x
Sun, 09 Mar 2025US$2.3tUS$1.9tUS$144.3b12.4x15.8x1.2x
Tue, 04 Feb 2025US$2.4tUS$1.9tUS$158.2b12.4x15x1.2x
Thu, 02 Jan 2025US$2.3tUS$1.9tUS$158.3b11.7x14.4x1.2x
Sat, 30 Nov 2024US$2.5tUS$1.9tUS$158.5b12.4x15.7x1.3x
Mon, 28 Oct 2024US$2.3tUS$2.0tUS$173.2b11.3x13.5x1.2x
Wed, 25 Sep 2024US$2.3tUS$2.0tUS$172.6b11.7x13.5x1.2x
Fri, 23 Aug 2024US$2.3tUS$2.0tUS$172.2b11.1x13.2x1.2x
Sun, 21 Jul 2024US$2.3tUS$1.9tUS$176.1b11.7x13.3x1.2x
Tue, 18 Jun 2024US$2.2tUS$1.9tUS$176.1b11.1x12.5x1.1x
Thu, 16 May 2024US$2.3tUS$1.9tUS$175.1b11.3x13.4x1.2x
Sat, 13 Apr 2024US$2.5tUS$2.0tUS$206.1b10.8x12.1x1.3x
Mon, 11 Mar 2024US$2.3tUS$2.0tUS$206.9b9.3x10.9x1.1x
Wed, 07 Feb 2024US$2.1tUS$2.0tUS$218.3b8.7x9.8x1.1x
Fri, 05 Jan 2024US$2.3tUS$2.1tUS$242.2b8.7x9.4x1.1x
Sun, 03 Dec 2023US$2.3tUS$2.1tUS$242.5b8.8x9.4x1.1x
Tue, 31 Oct 2023US$2.3tUS$2.1tUS$252.4b7.9x9x1.1x
Thu, 28 Sep 2023US$2.4tUS$2.2tUS$272.7b7.8x9x1.1x
Sat, 26 Aug 2023US$2.3tUS$2.2tUS$272.6b7.5x8.5x1.1x
Mon, 24 Jul 2023US$2.6tUS$2.4tUS$317.6b7.2x8.1x1.1x
Wed, 21 Jun 2023US$2.4tUS$2.4tUS$315.8b7.1x7.7x1x
Fri, 19 May 2023US$2.4tUS$2.4tUS$316.0b6.8x7.7x1x
Sun, 16 Apr 2023US$2.3tUS$2.4tUS$279.2b6.9x8.2x1x
Tue, 14 Mar 2023US$2.1tUS$2.4tUS$280.4b6.6x7.6x0.9x
Price to Earnings Ratio

7.6x


Total Market Cap: US$2.1tTotal Earnings: US$280.4bTotal Revenue: US$2.4tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Sector Price to Earnings3Y Average 13.4x202420252026
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 22.0x which is higher than its 3-year average PE of 13.4x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.5x.
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 7.4% 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-2.31%
Energy1.27%
Oil and Gas2.21%
Energy Services-6.41%
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 18.1%, which is higher than its past year's earnings decline of 33.1% 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 12.9x.
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 33% 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
VG Venture GlobalUS$12.4828.8%
+US$6.9b		35.2%PE13.6x
MPC Marathon PetroleumUS$221.2811.6%
+US$6.8b		60.9%PE16.1x
CVX ChevronUS$189.941.7%
+US$6.3b		21.5%PE30.8x
VLO Valero EnergyUS$224.639.8%
+US$6.0b		77.1%PE28.7x
PSX Phillips 66US$165.967.5%
+US$4.7b		31.5%PE15.1x

Latest News

LNG
US$255.15
Cheniere Energy
7D
8.2%
1Y
15.9%
VG
US$12.48
Venture Global
7D
28.8%
1Y
35.2%
FRO
US$34.56
Frontline
7D
-8.9%
1Y
108.4%
VLO
US$224.63
Valero Energy
7D
9.8%
1Y
77.1%
CVX
US$189.94
Chevron
7D
1.7%
1Y
21.5%

CVX: Venezuela Policy And Permian Cash Generation Will Influence Future Dividend Resilience

Chevron's fair value estimate has been nudged higher to $185.92 from $183.46 as analysts point to higher price targets and see support from stronger cash generation potential, renewed exploration plans, and a tighter crude supply backdrop linked to geopolitical risks. Analyst Commentary Recent Street research around Chevron highlights a split view on how sustainable the current setup is for the shares, with several price target increases sitting alongside a few cuts and downgrades.
XOM
US$151.21
Exxon Mobil
7D
-0.8%
1Y
38.7%

XOM: Geopolitical Supply Risks And Refining Execution Will Shape Returns

Exxon Mobil's fair value estimate edges up from $140.92 to $144.25 as analysts lift price targets across the board, pointing to higher crude price assumptions tied to Middle East tensions and a modest re rating in the stock's future P/E multiple, despite slightly softer long run growth and margin inputs. Analyst Commentary Recent Street research around Exxon Mobil clusters into two camps, with bullish analysts focusing on higher crude assumptions and multiple expansion, and more cautious voices highlighting valuation risk and a weaker fundamental backdrop for oil.
BKR
US$59.81
Baker Hughes
7D
-8.4%
1Y
39.4%
UEC
US$12.93
Uranium Energy
7D
-15.7%
1Y
159.1%
FTI
US$63.02
TechnipFMC
7D
-5.0%
1Y
136.3%

FTI: Rising Subsea Margin Hurdles Will Challenge Already Elevated Share Price

We are lifting our TechnipFMC fair value estimate to $41.37 from $37.73 as analysts point to higher long run revenue growth assumptions and stronger Subsea margin potential, which is reflected in rising Street price targets across multiple firms. Analyst Commentary Street research on TechnipFMC has been active, with many firms revisiting their models after recent results and updated 2026 guidance.
EOG
US$131.41
EOG Resources
7D
5.9%
1Y
4.9%
SLB
US$46.90
SLB
7D
-8.6%
1Y
13.4%
PSX
US$165.96
Phillips 66
7D
7.5%
1Y
31.5%

PSX: Future Cash Flows Will Reflect Midstream Expansion And Venezuela Crude Sourcing Shift

Our Phillips 66 fair value estimate edges up by about $2 to $157.55 as analysts lift price targets toward $158, pointing to updated models after recent results and a constructive view on midstream growth prospects for FY25 and FY26. Analyst Commentary Recent Street research around Phillips 66 is clustered around updated models and revised price targets, with most activity tied to Q4 reporting and views on midstream fundamentals heading into FY25 and FY26.
MPC
US$221.28
Marathon Petroleum
7D
11.6%
1Y
60.9%

MPC: Refining Margins And Capital Returns Will Shape Balanced Future Outcomes

Analysts have nudged their average price targets on Marathon Petroleum higher, with recent changes ranging from a $1 lift at the low end to a $28 increase at the high end. These moves reflect updated views on refining fundamentals, margins and longer term P/E assumptions.
HAL
US$34.05
Halliburton
7D
-5.4%
1Y
36.2%

HAL: Venezuela Euphoria And U.S. Land Headwinds Will Pressure Future Returns

Analysts have modestly lifted their fair value estimate for Halliburton to $28.33. This change is supported by a series of higher Street price targets that reflect updated views on revenue trends, profit margins and future P/E assumptions.
WFRD
US$90.80
Weatherford International
7D
-13.9%
1Y
61.8%

WFRD: Offshore Contract Wins And Venezuela Optionality Will Support Future Margin Strength

Analysts have lifted their fair value estimate for Weatherford International from $83.73 to $105.36, citing recent price target increases from several banks and updated assumptions that include a slightly lower discount rate, a marginally different revenue growth outlook, higher expected profit margins, and a higher future P/E multiple. Analyst Commentary Recent Street research around Weatherford International has centered on a cluster of price target revisions, with several firms adjusting their views within a relatively short window.
COP
US$117.07
ConocoPhillips
7D
3.2%
1Y
29.2%