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U.S. Energy Sector Analysis

UpdatedFeb 04, 2026
DataAggregated Company Financials
Companies443
  • 7D3.5%
  • 3M17.2%
  • 1Y10.6%
  • YTD12.5%

The Energy industry is up 3.5% in the last week, with Exxon Mobil up 5.0%. In the last 12 months, the industry was up 11%. Looking forward, earnings are forecast to grow by 7.4% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Tue, 18 Apr 2023US$2.3tUS$2.4tUS$279.2b6.8x8.1x1x
Thu, 16 Mar 2023US$2.0tUS$2.4tUS$280.4b6.4x7.2x0.9x
Sat, 11 Feb 2023US$2.4tUS$2.3tUS$272.3b7.7x8.7x1x
Price to Earnings Ratio

8.7x


Total Market Cap: US$2.4tTotal Earnings: US$272.3bTotal Revenue: US$2.3tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Sector Price to Earnings3Y Average 13x202420252026
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 15.9x which is higher than its 3-year average PE of 13.0x.
  • The industry is trading close to its 3-year average PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Energy industry have declined 16% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the U.S. Energy sector?

US Market-1.35%
Energy3.53%
Oil and Gas3.82%
Energy Services1.17%
Industry PE
  • Investors are most optimistic about the Energy Services industry which is trading above its 3-year average PE ratio of 24.0x.
    • Analysts are expecting annual earnings growth of 17.8%, which is higher than its past year's earnings decline of 22.3% 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 12.6x.
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 22% per year.
  • In contrast, the Oil and Gas industry is expected to see its earnings grow by 6.2% 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
XOM Exxon MobilUS$143.735.0%
+US$23.6b		30.7%PE20.8x
CVX ChevronUS$178.045.3%
+US$14.5b		16.2%PE7.2x
COP ConocoPhillipsUS$104.915.0%
+US$6.2b		4.3%PE14.7x
MPC Marathon PetroleumUS$187.589.2%
+US$4.7b		19.5%PE19.6x
WMB Williams CompaniesUS$68.504.6%
+US$3.7b		22.9%PE35.3x

Latest News

SOC
US$8.09
Sable Offshore
7D
-18.0%
1Y
-68.2%
MPC
US$187.58
Marathon Petroleum
7D
9.2%
1Y
19.5%
CVX
US$178.04
Chevron
7D
5.3%
1Y
16.2%
XOM
US$143.73
Exxon Mobil
7D
5.0%
1Y
30.7%
HAL
US$33.87
Halliburton
7D
-1.1%
1Y
28.6%

Some Investors May Be Willing To Look Past Halliburton's (NYSE:HAL) Soft Earnings

Feb 01
Some Investors May Be Willing To Look Past Halliburton's (NYSE:HAL) Soft Earnings
WMB
US$68.50
Williams Companies
7D
4.6%
1Y
22.9%

Williams Companies (NYSE:WMB) Will Pay A Larger Dividend Than Last Year At $0.525

Jan 31
Williams Companies (NYSE:WMB) Will Pay A Larger Dividend Than Last Year At $0.525
RES
US$5.47
RPC
7D
-16.1%
1Y
-14.4%

RPC (NYSE:RES) Has Affirmed Its Dividend Of $0.04

Jan 31
RPC (NYSE:RES) Has Affirmed Its Dividend Of $0.04
CNR
US$90.76
Core Natural Resources
7D
-6.3%
1Y
1.2%
LEU
US$280.47
Centrus Energy
7D
-9.3%
1Y
248.8%
VLO
US$192.27
Valero Energy
7D
5.1%
1Y
34.5%
PSX
US$148.09
Phillips 66
7D
5.8%
1Y
19.8%

PSX: Future Cash Flows Will Reflect Cash Returns And Refiner Sentiment Reset

The analyst price target for Phillips 66 has shifted to US$151.45 from about US$149.30 as analysts incorporate updated commodity assumptions, modestly softer revenue and margin expectations, and slightly higher future P/E multiples into their models. Analyst Commentary Recent research updates on Phillips 66 point to a mix of optimism around execution and margins, alongside fresh caution on sector risks and valuation after a strong share price move.
UEC
US$17.81
Uranium Energy
7D
-7.2%
1Y
150.8%
COP
US$104.91
ConocoPhillips
7D
5.0%
1Y
4.3%

COP: Future Cash Flows Will Strengthen As Dividend Capacity Expands

Narrative Update The updated analyst price target for ConocoPhillips edges higher to about US$113. Analysts point to slightly stronger margin assumptions, a modestly higher future P/E multiple, and refreshed views on dividend growth and valuation across recent research updates.
TPL
US$336.12
Texas Pacific Land
7D
-2.6%
1Y
-25.7%

TPL: Overvaluation Is Expected To Persist Despite Stock Split And Buybacks

Analysts have maintained their fair value estimate for Texas Pacific Land at about US$280.83 per share, making only minor adjustments to inputs such as the discount rate, revenue growth, profit margin and future P/E assumptions that support this unchanged target. What's in the News Texas Pacific Land Corporation plans a 3 for 1 stock split or significant stock dividend, scheduled for December 23, 2025 (Key Developments).
TRGP
US$203.64
Targa Resources
7D
4.4%
1Y
1.9%

TRGP: Permian Volumes And Diversification Will Support Measured Future Cash Returns

Narrative Update: Targa Resources Analyst Price Target Shift The analyst price target for Targa Resources has moved higher to US$212.05, with analysts pointing to refined assumptions around revenue growth, profit margins and future P/E, alongside recent research highlighting Q3 outperformance, diversified midstream exposure and solid Permian volume trends as key supports for the updated view. Analyst Commentary Recent research on Targa Resources highlights a mix of optimism around execution and growth, alongside some caution on macro sensitivity and the midstream sector reset in price targets.
SLB
US$49.76
SLB
7D
-1.8%
1Y
20.7%

SLB: Venezuela Euphoria And Weak Oil Prices Will Pressure Future Returns

Narrative Update Analysts have nudged their SLB price expectations higher, with our fair value estimate moving from US$38.00 to about US$40.07 as they factor in modestly stronger long term revenue growth, slightly higher profit margins, and a higher future P/E multiple supported by a recent wave of price target increases across the Street. Analyst Commentary Recent research on SLB shows a mix of optimism on long term fundamentals and caution on shorter term risks.