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U.S. Energy Sector Analysis

UpdatedJun 12, 2026
DataAggregated Company Financials
Companies442
  • 7D-2.9%
  • 3M-1.2%
  • 1Y27.7%
  • YTD23.1%

Over the last 7 days, the Energy industry has dropped 2.9%, driven by a pullback from Exxon Mobil of 3.6%. Meanwhile, Frontline actually outperformed within the industry, gaining 8.7% in the last week. This takes the industry's 12 month performance to a gain of 28%. 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
Fri, 12 Jun 2026US$2.9tUS$1.9tUS$125.1b15.7x23.5x1.5x
Sun, 10 May 2026US$2.9tUS$1.9tUS$125.0b15.7x23.1x1.5x
Tue, 07 Apr 2026US$3.0tUS$1.9tUS$130.7b17.6x23.3x1.6x
Thu, 05 Mar 2026US$2.9tUS$1.9tUS$130.6b17.8x22.1x1.5x
Sat, 31 Jan 2026US$2.6tUS$1.9tUS$126.5b16.8x20.7x1.4x
Mon, 29 Dec 2025US$2.3tUS$1.9tUS$126.3b14.9x18.2x1.2x
Wed, 26 Nov 2025US$2.3tUS$1.9tUS$124.7b15.4x18.4x1.2x
Fri, 24 Oct 2025US$2.3tUS$1.9tUS$125.4b14.4x18.3x1.2x
Sun, 21 Sep 2025US$2.3tUS$1.9tUS$125.9b13.6x18.3x1.2x
Tue, 19 Aug 2025US$2.2tUS$1.9tUS$126.3b13.1x17.7x1.2x
Thu, 17 Jul 2025US$2.3tUS$1.9tUS$134.2b11.8x17.1x1.2x
Sat, 14 Jun 2025US$2.3tUS$1.9tUS$134.4b12.6x17.1x1.2x
Mon, 12 May 2025US$2.2tUS$1.9tUS$135.2b11.7x15.9x1.1x
Wed, 09 Apr 2025US$2.0tUS$1.9tUS$143.8b10.7x14.2x1.1x
Fri, 07 Mar 2025US$2.3tUS$1.9tUS$144.4b12.2x15.6x1.2x
Sun, 02 Feb 2025US$2.4tUS$1.9tUS$158.3b12.4x15x1.2x
Tue, 31 Dec 2024US$2.2tUS$1.9tUS$158.3b11.7x14.2x1.2x
Thu, 28 Nov 2024US$2.5tUS$1.9tUS$158.5b12.3x15.6x1.3x
Sat, 26 Oct 2024US$2.3tUS$2.0tUS$173.1b11.3x13.5x1.2x
Mon, 23 Sep 2024US$2.3tUS$2.0tUS$172.6b11.8x13.3x1.2x
Wed, 21 Aug 2024US$2.3tUS$2.0tUS$172.2b11.2x13.5x1.2x
Fri, 19 Jul 2024US$2.4tUS$1.9tUS$176.0b11.8x13.4x1.2x
Sun, 16 Jun 2024US$2.2tUS$1.9tUS$176.1b11.1x12.5x1.1x
Tue, 14 May 2024US$2.3tUS$1.9tUS$175.2b11.5x13.3x1.2x
Thu, 11 Apr 2024US$2.5tUS$2.0tUS$206.1b11x12.1x1.3x
Sat, 09 Mar 2024US$2.3tUS$2.0tUS$207.0b9.3x10.9x1.1x
Mon, 05 Feb 2024US$2.2tUS$2.0tUS$229.0b8.4x9.7x1.1x
Wed, 03 Jan 2024US$2.3tUS$2.1tUS$242.2b8.6x9.4x1.1x
Fri, 01 Dec 2023US$2.2tUS$2.1tUS$242.5b8.7x9.3x1.1x
Sun, 29 Oct 2023US$2.3tUS$2.1tUS$252.4b7.8x9x1.1x
Tue, 26 Sep 2023US$2.4tUS$2.2tUS$272.6b7.7x8.8x1.1x
Thu, 24 Aug 2023US$2.3tUS$2.2tUS$272.4b7.6x8.5x1.1x
Sat, 22 Jul 2023US$2.6tUS$2.4tUS$317.6b7.2x8.1x1.1x
Mon, 19 Jun 2023US$2.5tUS$2.4tUS$315.8b7.2x7.8x1x
Price to Earnings Ratio

7.8x


Total Market Cap: US$2.5tTotal Earnings: US$315.8bTotal Revenue: US$2.4tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Sector Price to Earnings3Y Average 14.7x202420252026
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 23.5x which is higher than its 3-year average PE of 14.7x.
  • 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 27% per year over the last three years,
  • Revenues have also declined 7.0% 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-2.36%
Energy-2.86%
Energy Services-2.69%
Oil and Gas-2.88%
Industry PE
  • Investors are most optimistic about the Energy Services industry which is trading above its 3-year average PE ratio of 23.3x.
    • Analysts are expecting annual earnings growth of 21.2%, which is higher than its past year's earnings decline of 26.2% 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 14.3x.
Forecasted Growth
  • Analysts are most optimistic on the Energy Services industry, expecting annual earnings growth of 21% over the next 5 years.
  • This is better than its past earnings decline of 26% 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
FRO FrontlineUS$37.138.7%
+US$661.2m		102.1%PE9.1x
FTI TechnipFMCUS$70.602.3%
+US$633.9m		103.6%PE26x
TRGP Targa ResourcesUS$269.370.7%
+US$429.3m		59.3%PE27.3x
AROC ArchrockUS$36.073.7%
+US$227.8m		44.8%PE19.7x
INSW International SeawaysUS$82.565.2%
+US$201.5m		116.1%PE7.5x

Latest News

SLB
US$56.00
SLB
7D
-3.5%
1Y
57.2%
FANG
US$191.59
Diamondback Energy
7D
-5.6%
1Y
28.3%
Narrative Update • Jun 11

FANG: Oil Price Assumptions And Execution Discipline Will Shape Future P/E Premium

Analysts raised the Diamondback Energy fair value estimate from $175.39 to $195.00, reflecting higher oil price assumptions, stronger modeled profit margins, and lower future P/E expectations in their updated targets for the stock. Analyst Commentary Recent Street research on Diamondback Energy shows a clear tilt toward higher fair value assumptions, with several major firms lifting price targets as they factor in updated oil price decks tied to conflict related supply concerns and tighter crude markets.
COP
US$115.36
ConocoPhillips
7D
-3.2%
1Y
21.8%
FRO
US$37.13
Frontline
7D
8.7%
1Y
102.1%
XOM
US$146.60
Exxon Mobil
7D
-3.6%
1Y
33.6%
CVX
US$185.82
Chevron
7D
-1.3%
1Y
28.2%
OKE
US$89.20
ONEOK
7D
0.3%
1Y
7.9%
FTI
US$70.60
TechnipFMC
7D
2.3%
1Y
103.6%
Narrative Update • Jun 06

FTI: Subsea Order Cadence And Margin Gains Will Support Richer Future Pricing

Analysts have lifted the fair value estimate for TechnipFMC to $76.00 from $65.62, citing higher assumed revenue growth, slightly stronger profit margins, and a higher future P/E multiple. This outlook is supported by rising price targets that reference subsea order interest, margin expansion efforts, and recent earnings execution.
BKR
US$63.48
Baker Hughes
7D
-4.0%
1Y
64.3%
INSW
US$82.56
International Seaways
7D
5.2%
1Y
116.1%
Narrative Update • Jun 05

INSW: Rich Spot-Rate Dependence Will Constrain Returns As Tanker Cycle Normalizes

Analysts have nudged their average price target for International Seaways to $88, with the change framed by recent target hikes from several firms, alongside at least one downgrade to Hold as some see the stock's rally as fully reflecting current fundamentals. Analyst Commentary Recent Street research on International Seaways shows a mix of confidence and growing caution, with several firms adjusting targets and ratings as the share price moves closer to their models.
TRGP
US$269.37
Targa Resources
7D
0.7%
1Y
59.3%
Narrative Update • Jun 04

TRGP: Permian Volume Projects And Capex Discipline Will Shape Future Shareholder Returns

Analysts have raised the implied fair value estimate for Targa Resources to $283.90 from $266.80. Higher price targets, tied to updated expectations for revenue growth, profit margins and a modestly higher future P/E, reflect stronger assumptions around marketing, export activity and the current energy backdrop.
AROC
US$36.07
Archrock
7D
3.7%
1Y
44.8%
Narrative Update • Jun 04

AROC: Compression Demand And Natural Gas Trends Will Support Future Cash Flow

Narrative Update: Archrock Analyst Price Target Shift The updated analyst price target for Archrock has moved modestly higher to about $41.89 from $41.56, with analysts pointing to recalibrated assumptions on revenue growth, profit margins, and future P/E, along with recent target changes around $40 from firms covering the stock. Analyst Commentary Recent Street research on Archrock shows a mix of optimism and caution around the stock, with several firms adjusting their price targets and updating views on the company’s execution and earnings power.
TPL
US$369.55
Texas Pacific Land
7D
-9.1%
1Y
1.0%
OXY
US$55.47
Occidental Petroleum
7D
-5.5%
1Y
23.9%
KNTK
US$47.20
Kinetik Holdings
7D
3.1%
1Y
6.1%
Narrative Update • Jun 02

KNTK: Permian Gas Expansion And Kings Landing Project Will Support Earnings Rebound

Analysts have raised the fair value estimate for Kinetik Holdings by about $5 to approximately $58.39. They cite a series of higher price targets across the Street and updated models that reflect a more constructive view on U.S. crude production, midstream multiples, and long term growth assumptions.
LPG
US$43.54
DorianG
7D
7.5%
1Y
83.7%
Narrative Update • Jun 02

LPG: Irregular Dividend At Peak Earnings Will Restrain Long Term Returns

Analysts have lifted the fair value estimate for DorianG from $28.00 to $36.00 after a series of higher Street price targets in the $51 to $55 range, citing very large gas carrier rate strength, high fleet utilization, solid EBITDA and cash flow, and management's focus on dividends, deleveraging, fleet renewal, and selective vessel sales. Analyst Commentary Recent research on Dorian LPG has centered on very large gas carrier rate strength, high fleet utilization, and the company’s focus on dividends and balance sheet discipline.