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U.S. Energy Sector Analysis

UpdatedMay 13, 2026
DataAggregated Company Financials
Companies432
  • 7D-3.0%
  • 3M5.7%
  • 1Y32.5%
  • YTD25.7%

Over the last 7 days, the Energy industry has dropped 3.0%, driven by Cheniere Energy declining 8.4%. This takes the industry's 12 month performance to a gain of 33%. 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
Thu, 14 May 2026US$3.0tUS$1.9tUS$124.6b16.4x23.7x1.6x
Sat, 11 Apr 2026US$2.9tUS$1.9tUS$130.6b17.3x22.6x1.6x
Mon, 09 Mar 2026US$2.9tUS$1.9tUS$130.6b17.9x22.1x1.5x
Wed, 04 Feb 2026US$2.6tUS$2.4tUS$161.9b16.7x15.9x1.1x
Fri, 02 Jan 2026US$2.3tUS$1.9tUS$126.3b14.9x18.4x1.2x
Sun, 30 Nov 2025US$2.3tUS$1.9tUS$124.8b15.5x18.8x1.3x
Tue, 28 Oct 2025US$2.3tUS$1.9tUS$126.9b14.4x18.1x1.2x
Thu, 25 Sep 2025US$2.3tUS$1.9tUS$125.9b14x18.6x1.3x
Sat, 23 Aug 2025US$2.2tUS$1.9tUS$126.2b13.4x17.8x1.2x
Mon, 21 Jul 2025US$2.2tUS$1.9tUS$132.0b12.1x16.8x1.2x
Wed, 18 Jun 2025US$2.3tUS$1.9tUS$134.4b12.7x17.3x1.2x
Fri, 16 May 2025US$2.3tUS$1.9tUS$134.8b11.8x16.7x1.2x
Sun, 13 Apr 2025US$2.1tUS$1.9tUS$143.8b11.3x14.4x1.1x
Tue, 11 Mar 2025US$2.3tUS$1.9tUS$144.3b12.4x15.8x1.2x
Thu, 06 Feb 2025US$2.4tUS$1.9tUS$156.8b12.7x15.5x1.3x
Sat, 04 Jan 2025US$2.3tUS$1.9tUS$158.6b11.9x14.6x1.2x
Mon, 02 Dec 2024US$2.5tUS$1.9tUS$158.5b12.4x15.7x1.3x
Wed, 30 Oct 2024US$2.3tUS$2.0tUS$172.8b11.2x13.4x1.2x
Fri, 27 Sep 2024US$2.3tUS$2.0tUS$172.6b11.3x13.2x1.2x
Sun, 25 Aug 2024US$2.3tUS$2.0tUS$172.2b11.3x13.3x1.2x
Tue, 23 Jul 2024US$2.3tUS$1.9tUS$176.1b11.7x13.3x1.2x
Thu, 20 Jun 2024US$2.2tUS$1.9tUS$176.1b11.1x12.6x1.1x
Sat, 18 May 2024US$2.3tUS$1.9tUS$175.0b11.7x13.3x1.2x
Mon, 15 Apr 2024US$2.5tUS$2.0tUS$206.1b10.8x11.9x1.2x
Wed, 13 Mar 2024US$2.3tUS$2.0tUS$206.7b9.2x11x1.2x
Fri, 09 Feb 2024US$2.1tUS$2.0tUS$217.8b8.7x9.8x1.1x
Sun, 07 Jan 2024US$2.3tUS$2.1tUS$242.2b8.6x9.4x1.1x
Tue, 05 Dec 2023US$2.3tUS$2.1tUS$242.5b8.7x9.4x1.1x
Thu, 02 Nov 2023US$2.3tUS$2.1tUS$251.5b8.2x9.1x1.1x
Sat, 30 Sep 2023US$2.5tUS$2.2tUS$272.7b7.6x9x1.1x
Mon, 28 Aug 2023US$2.3tUS$2.2tUS$272.6b7.5x8.5x1.1x
Wed, 26 Jul 2023US$2.6tUS$2.4tUS$317.3b7.3x8.2x1.1x
Fri, 23 Jun 2023US$2.4tUS$2.4tUS$315.8b6.9x7.7x1x
Sun, 21 May 2023US$2.4tUS$2.4tUS$315.9b6.9x7.7x1x
Price to Earnings Ratio

7.7x


Total Market Cap: US$2.4tTotal Earnings: US$315.9bTotal Revenue: US$2.4tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Sector Price to Earnings3Y Average 14.3x202420252026
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 14.3x.
  • 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 Market1.52%
Energy-3.04%
Energy Services-1.15%
Oil and Gas-3.28%
Industry PE
  • Investors are most optimistic about the Energy Services industry which is trading above its 3-year average PE ratio of 23.8x.
    • Analysts are expecting annual earnings growth of 21.0%, 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 13.8x.
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 27% 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
DVN Devon EnergyUS$46.900.6%
+US$25.1b		38.1%PE23.8x
XOM Exxon MobilUS$151.571.9%
+US$11.9b		39.7%PE24.8x
TRGP Targa ResourcesUS$263.295.5%
+US$2.9b		56.2%PE26.7x
KMI Kinder MorganUS$32.813.9%
+US$2.7b		19.5%PE22.1x
VG Venture GlobalUS$13.008.3%
+US$2.5b		28.0%PE13.7x

Latest News

OVV
US$57.79
Ovintiv
7D
-3.5%
1Y
48.3%
VG
US$13.00
Venture Global
7D
8.3%
1Y
28.0%
LEU
US$192.31
Centrus Energy
7D
-16.9%
1Y
98.4%
TRGP
US$263.29
Targa Resources
7D
5.5%
1Y
56.2%
WMB
US$75.71
Williams Companies
7D
2.6%
1Y
30.1%
OKE
US$88.79
ONEOK
7D
3.7%
1Y
2.5%
XOM
US$151.57
Exxon Mobil
7D
1.9%
1Y
39.7%
COP
US$117.40
ConocoPhillips
7D
-1.3%
1Y
26.8%
DVN
US$46.90
Devon Energy
7D
0.6%
1Y
38.1%
KMI
US$32.81
Kinder Morgan
7D
3.9%
1Y
19.5%
Narrative Update • May 11

KMI: Gas Backlog And Project Pipeline Execution Will Drive Future Risk Reward

Kinder Morgan's updated analyst price target edges higher to about $35.33 per share from roughly $35.24, as analysts factor in slightly higher assumed discount rates, modestly lower revenue growth expectations, a small uptick in projected profit margins, and higher future P/E multiples following a series of recent target changes across the Street. Analyst Commentary Recent Street research on Kinder Morgan has been active, with several firms adjusting price targets and refining models based on updated estimates, project backlogs, and meetings with management.
VLO
US$244.10
Valero Energy
7D
3.1%
1Y
81.7%
PR
US$20.24
Permian Resources
7D
-4.6%
1Y
46.7%
TPL
US$386.51
Texas Pacific Land
7D
-7.9%
1Y
-17.5%
Narrative Update • May 10

TPL: Higher Dividend Payout Will Support Attractive Future Share Returns

Analysts have maintained their $445.50 price target on Texas Pacific Land, citing updated assumptions that include stable fair value, a higher discount rate, adjusted revenue growth and profit margin estimates, and a lower future P/E expectation. What's in the News On February 10, 2026, Texas Pacific Land's Board of Directors declared a quarterly cash dividend of $0.60 per share, payable on March 16, 2026 to stockholders of record as of March 2, 2026 (company announcement).
BKR
US$65.41
Baker Hughes
7D
-1.9%
1Y
72.9%
LNG
US$239.38
Cheniere Energy
7D
-8.4%
1Y
2.6%
EQT
US$55.93
EQT
7D
-2.5%
1Y
-0.8%
Narrative Update • May 07

EQT: Gas Optimization Will Drive Future Free Cash Flow Upside

Analysts nudged the EQT price target higher, with fair value moving from $65.96 to $70.48 as they recalibrated models around updated commodity strip assumptions, refined views on revenue growth and margins, and a slightly higher forward P/E expectation. Analyst Commentary Recent research updates on EQT present a mix of optimism and caution, with many price target revisions clustering around similar valuation ranges but for different reasons.