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U.S. Energy Sector Analysis

UpdatedApr 23, 2026
DataAggregated Company Financials
Companies431
  • 7D1.4%
  • 3M15.4%
  • 1Y37.7%
  • YTD23.7%

The Energy industry is up 1.4% in the last week, with ConocoPhillips up 3.1%. This takes the industry's 12 month performance to a gain of 38%. 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
Thu, 23 Apr 2026US$2.9tUS$1.9tUS$133.7b17x21.5x1.5x
Sat, 21 Mar 2026US$3.0tUS$1.9tUS$130.6b17.7x23.1x1.6x
Mon, 16 Feb 2026US$2.8tUS$1.9tUS$129.0b16.9x21.5x1.5x
Wed, 14 Jan 2026US$2.4tUS$1.9tUS$126.3b16.3x19x1.3x
Fri, 12 Dec 2025US$2.4tUS$1.9tUS$124.8b15.7x19.1x1.3x
Sun, 09 Nov 2025US$2.3tUS$1.9tUS$125.0b15.1x18.5x1.2x
Tue, 07 Oct 2025US$2.3tUS$1.9tUS$125.9b13.9x18.5x1.3x
Thu, 04 Sep 2025US$2.3tUS$1.9tUS$126.4b13.4x18.6x1.3x
Sat, 02 Aug 2025US$2.3tUS$1.9tUS$133.4b12.3x17.3x1.2x
Mon, 30 Jun 2025US$2.2tUS$1.9tUS$134.4b11.9x16.7x1.2x
Wed, 28 May 2025US$2.2tUS$1.9tUS$134.3b11.6x16.1x1.1x
Fri, 25 Apr 2025US$2.1tUS$1.9tUS$143.5b11.4x14.9x1.1x
Sun, 23 Mar 2025US$2.4tUS$1.9tUS$143.9b13.1x16.7x1.3x
Tue, 18 Feb 2025US$2.4tUS$1.9tUS$154.7b12.3x15.5x1.3x
Thu, 16 Jan 2025US$2.4tUS$1.9tUS$158.5b12.5x15.3x1.3x
Sat, 14 Dec 2024US$2.4tUS$1.9tUS$158.5b11.9x14.8x1.2x
Mon, 11 Nov 2024US$2.4tUS$1.9tUS$160.5b11.6x15.1x1.3x
Wed, 09 Oct 2024US$2.4tUS$2.0tUS$175.7b11.9x13.8x1.2x
Fri, 06 Sep 2024US$2.2tUS$2.0tUS$172.5b11.1x13x1.1x
Sun, 04 Aug 2024US$2.3tUS$2.0tUS$172.0b11x13.2x1.2x
Tue, 02 Jul 2024US$2.3tUS$1.9tUS$176.1b11.4x13.1x1.2x
Thu, 30 May 2024US$2.3tUS$1.9tUS$175.0b11.2x13.2x1.2x
Sat, 27 Apr 2024US$2.5tUS$2.0tUS$197.1b11.1x12.5x1.2x
Mon, 25 Mar 2024US$2.4tUS$2.0tUS$206.4b9.7x11.5x1.2x
Wed, 21 Feb 2024US$2.2tUS$2.0tUS$215.4b9x10.1x1.1x
Fri, 19 Jan 2024US$2.2tUS$2.1tUS$242.2b8.2x8.9x1x
Sun, 17 Dec 2023US$2.2tUS$2.1tUS$242.3b8.6x9.3x1.1x
Tue, 14 Nov 2023US$2.3tUS$2.1tUS$242.6b8.8x9.3x1.1x
Thu, 12 Oct 2023US$2.3tUS$2.2tUS$272.8b7.6x8.6x1.1x
Sat, 09 Sep 2023US$2.4tUS$2.2tUS$272.6b7.8x8.8x1.1x
Mon, 07 Aug 2023US$2.6tUS$2.2tUS$274.0b7.9x9.5x1.2x
Wed, 05 Jul 2023US$2.5tUS$2.4tUS$315.8b7x7.9x1.1x
Fri, 02 Jun 2023US$2.4tUS$2.4tUS$315.6b6.9x7.5x1x
Sun, 30 Apr 2023US$2.2tUS$2.4tUS$300.4b6.8x7.4x0.9x
Price to Earnings Ratio

7.4x


Total Market Cap: US$2.2tTotal Earnings: US$300.4bTotal Revenue: US$2.4tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Sector Price to Earnings3Y Average 14x202420252026
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 21.5x which is higher than its 3-year average PE of 14.0x.
  • 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 24% per year over the last three years,
  • Revenues have also declined 7.3% 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 Market1.73%
Energy1.39%
Energy Services3.27%
Oil and Gas1.16%
Industry PE
  • Investors are most optimistic about the Energy Services industry which is trading above its 3-year average PE ratio of 23.5x.
    • Analysts are expecting annual earnings growth of 17.9%, 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 9.3% 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
COP ConocoPhillipsUS$122.603.1%
+US$4.5b		36.3%PE18.8x
SLB SLBUS$54.353.7%
+US$2.9b		59.7%PE24.2x
CVX ChevronUS$186.320.8%
+US$2.8b		36.3%PE30.2x
BKR Baker HughesUS$62.544.1%
+US$2.4b		74.3%PE24x
FANG Diamondback EnergyUS$193.874.3%
+US$2.3b		43.0%PE32.9x

Latest News

COP
US$122.60
ConocoPhillips
7D
3.1%
1Y
36.3%
PSX
US$160.65
Phillips 66
7D
-0.5%
1Y
56.3%
HAL
US$39.11
Halliburton
7D
4.2%
1Y
89.8%
FANG
US$193.87
Diamondback Energy
7D
4.3%
1Y
43.0%

Why Peace In The Middle East Won't Bring Back Cheap Oil: The Case For Diamondback Energy

Apr 22
FRO
US$34.66
Frontline
7D
-2.3%
1Y
120.8%
GLNG
US$52.66
Golar LNG
7D
-2.2%
1Y
33.3%

GLNG: Conviction Support And Buybacks Will Guide Formal Review Outcomes

Analysts have inched up their fair value estimate for Golar LNG to about $53.31 from $52.56, reflecting a slightly higher future P/E assumption and the combination of a modestly lowered $54 Street price target with renewed conviction list support. Analyst Commentary Bullish Takeaways Bullish analysts see support for the current fair value around $53.31, as it sits close to the updated Street price target of $54, suggesting they view recent adjustments as fine tuning rather than a reset.
TRGP
US$236.73
Targa Resources
7D
-0.8%
1Y
37.4%
XOM
US$149.50
Exxon Mobil
7D
0.3%
1Y
39.2%

Exxon Mobil Corporation (XOM): The Permian Powerhouse and the Guyana Growth Engine

Exxon Mobil Corporation (XOM) , the architect of the global energy landscape, enters Sunday, April 19, 2026 , as a dominant force in the transition toward high-return, low-cost production. Trading at $163.91 USD following a resilient start to the month, the stock is effectively shaking off the localized volatility of early April as it prepares for its Q1 earnings report on Friday, May 1.
CNX
US$38.55
CNX Resources
7D
-2.0%
1Y
26.0%

CNX: Oil Price Assumptions And Aggressive Buybacks Will Shape Future Returns

Analysts have slightly lowered the CNX Resources price target to $37.46 from $37.62, reflecting revised assumptions around revenue growth, profit margins, and future P/E, while ongoing research updates show a mix of higher individual price targets and more cautious views on the stock. Analyst Commentary Recent research updates on CNX Resources point to a split view, with several firms raising price targets while others keep cautious stances or downgrade the shares.
SLB
US$54.35
SLB
7D
3.7%
1Y
59.7%

SLB: Oil Services Repositioning And AI Partnerships Will Shape Future Risk Profile

The analyst fair value estimate for SLB shifts to $56.36 from $55.43, as analysts factor in updated models that reflect slightly higher revenue growth assumptions, a modestly higher future P/E, and recent Street price target increases across several firms. Analyst Commentary Recent Street research on SLB shows a cluster of price target increases from a wide set of firms, with only one downgrade in the mix.
CVX
US$186.32
Chevron
7D
0.8%
1Y
36.3%

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.
VLO
US$234.36
Valero Energy
7D
-0.3%
1Y
104.7%

Valero Energy: An Oil Refiner That Will Grow Even With An Open Strait of Hormuz

Apr 18
RIG
US$6.06
Transocean
7D
-1.5%
1Y
179.3%

RIG: Offshore Backlog Strength And Cash Generation Will Face Crude Price Risks

Analyst price targets for Transocean have moved higher, with firms such as Morgan Stanley, Susquehanna, Barclays and BTIG lifting their targets by amounts ranging from $0.50 to $2, as analysts point to updated estimates following recent free cash flow, contract wins and sector wide day rate assumptions. Analyst Commentary Recent research shows a split in how analysts view Transocean, with some focusing on improving cash generation and contract activity, while others highlight valuation constraints and rating downgrades even as targets move higher.
TPL
US$439.50
Texas Pacific Land
7D
5.3%
1Y
-0.9%
BKR
US$62.54
Baker Hughes
7D
4.1%
1Y
74.3%
MPC
US$222.07
Marathon Petroleum
7D
-0.4%
1Y
65.4%

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

The updated analyst price target for Marathon Petroleum increases to $236.61 from $216.17. Analysts attribute this change to adjustments in fair value assumptions, a slightly lower discount rate, revised revenue growth and profit margin inputs, and a different future P/E outlook.