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U.S. Energy Sector Analysis

UpdatedNov 18, 2025
DataAggregated Company Financials
Companies430
  • 7D-0.4%
  • 3M5.5%
  • 1Y-5.1%
  • YTD-0.4%

The Energy industry has stayed flat over the last week. Unfortunately though, the industry is down 5.1% over the past 12 months. 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
Tue, 18 Nov 2025US$2.4tUS$1.9tUS$125.4b15.1x18.9x1.3x
Thu, 16 Oct 2025US$2.3tUS$1.9tUS$125.9b13.5x17.9x1.2x
Sat, 13 Sep 2025US$2.3tUS$1.9tUS$125.9b13.6x18.4x1.3x
Mon, 11 Aug 2025US$2.2tUS$1.9tUS$126.1b13x17.7x1.2x
Wed, 09 Jul 2025US$2.3tUS$1.9tUS$134.5b12.2x17x1.2x
Fri, 06 Jun 2025US$2.2tUS$1.9tUS$134.4b11.6x16.2x1.1x
Sun, 04 May 2025US$2.2tUS$1.9tUS$135.9b11.4x15.9x1.1x
Tue, 01 Apr 2025US$2.4tUS$1.9tUS$143.8b13x16.8x1.3x
Thu, 27 Feb 2025US$2.4tUS$1.9tUS$148.7b13.2x15.8x1.2x
Sat, 25 Jan 2025US$2.5tUS$1.9tUS$159.4b12.4x15.7x1.3x
Mon, 23 Dec 2024US$2.2tUS$1.9tUS$158.3b11.6x14x1.1x
Wed, 20 Nov 2024US$2.5tUS$1.9tUS$159.9b12.1x15.4x1.3x
Fri, 18 Oct 2024US$2.3tUS$2.0tUS$175.8b11.6x13.3x1.2x
Sun, 15 Sep 2024US$2.2tUS$2.0tUS$172.7b11.2x12.7x1.1x
Tue, 13 Aug 2024US$2.3tUS$2.0tUS$172.3b10.9x13.3x1.2x
Thu, 11 Jul 2024US$2.3tUS$1.9tUS$176.1b11.4x12.8x1.2x
Sat, 08 Jun 2024US$2.3tUS$1.9tUS$176.3b11.5x12.8x1.2x
Mon, 06 May 2024US$2.3tUS$1.9tUS$177.7b10.9x13x1.2x
Wed, 03 Apr 2024US$2.4tUS$2.0tUS$206.2b10.6x11.9x1.2x
Fri, 01 Mar 2024US$2.2tUS$2.0tUS$208.0b9.1x10.6x1.1x
Sun, 28 Jan 2024US$2.3tUS$2.1tUS$239.8b8.6x9.5x1.1x
Tue, 26 Dec 2023US$2.3tUS$2.1tUS$242.2b8.7x9.4x1.1x
Thu, 23 Nov 2023US$2.3tUS$2.1tUS$242.5b8.8x9.3x1.1x
Sat, 21 Oct 2023US$2.4tUS$2.2tUS$273.0b7.5x8.8x1.1x
Mon, 18 Sep 2023US$2.4tUS$2.2tUS$272.6b7.8x8.9x1.1x
Wed, 16 Aug 2023US$2.7tUS$2.2tUS$272.5b7.7x9.8x1.2x
Fri, 14 Jul 2023US$2.6tUS$2.4tUS$315.8b7x8.1x1.1x
Sun, 11 Jun 2023US$2.5tUS$2.4tUS$315.8b7.2x7.8x1x
Tue, 09 May 2023US$2.1tUS$2.4tUS$318.2b6.8x6.7x0.9x
Thu, 06 Apr 2023US$2.3tUS$2.4tUS$280.7b7.2x8x1x
Sat, 04 Mar 2023US$2.3tUS$2.4tUS$280.8b7.5x8.2x1x
Mon, 30 Jan 2023US$2.4tUS$2.3tUS$262.2b8x9.2x1x
Wed, 28 Dec 2022US$2.3tUS$2.3tUS$257.1b8.1x9x1x
Fri, 25 Nov 2022US$2.4tUS$2.3tUS$256.9b8.4x9.4x1.1x
Price to Earnings Ratio

9.4x


Total Market Cap: US$2.4tTotal Earnings: US$256.9bTotal Revenue: US$2.3tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Sector Price to Earnings3Y Average 12.3x202320242025
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 18.6x which is higher than its 3-year average PE of 12.3x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Energy industry have declined 21% per year over the last three years,
  • Revenues have also declined 6.3% 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 Market-2.74%
Energy-0.38%
Oil and Gas-0.12%
Energy Services-2.89%
Industry PE
  • Investors are most optimistic about the Energy Services industry, which is trading close to its 3-year average PE ratio of 27.4x.
    • Analysts are expecting annual earnings growth of 15.6%, which is higher than its past year's earnings decline of 19.5% 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 11.9x.
Forecasted Growth
  • Analysts are most optimistic on the Energy Services industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings decline of 19% per year.
  • In contrast, the Oil and Gas industry is expected to see its earnings grow by 12% 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
EOG EOG ResourcesUS$109.482.7%
+US$1.6b		-19.8%PE10.7x
LNG Cheniere EnergyUS$215.211.7%
+US$787.8m		0.2%PE11.6x
DVN Devon EnergyUS$35.073.4%
+US$721.4m		-9.5%PE8.1x
COP ConocoPhillipsUS$88.720.6%
+US$605.5m		-22.0%PE12.4x
OKE ONEOKUS$68.861.4%
+US$604.1m		-38.8%PE13x

Latest News

XOM
US$117.68
Exxon Mobil
7D
-0.5%
1Y
-2.2%

XOM: Free Cash Flow Strength And Cost Savings Will Offset Industry Volatility

Exxon Mobil’s analyst price target has increased from $141 to $144 per share, with analysts citing the company’s resilient free cash flow and ongoing structural cost savings as key drivers for the modest upgrade. Analyst Commentary Recent research updates from Street analysts reflect a mix of optimism around Exxon Mobil’s positioning and growth prospects, as well as some reservations regarding the near-term outlook for the energy sector.
WMB
US$59.91
Williams Companies
7D
-1.1%
1Y
3.5%

WMB: Future Data Center Projects And Regulatory Advances Will Shape Returns

The analyst price target for Williams Companies has increased from approximately $67.22 to $67.46. Analysts cite growing project contributions and expectations for sector-leading EBITDA growth as key catalysts for the upward revision.
BKR
US$47.88
Baker Hughes
7D
-1.9%
1Y
11.2%

BKR: Sector Activity Rebound And Divestiture Plans Will Shape Risk-Reward Ahead

The average analyst price target for Baker Hughes has increased modestly to approximately $52.52 per share. This reflects analysts' expectations for improving sector momentum and upcoming strategic catalysts, despite a still cautious macroeconomic environment.
VG
US$8.11
Venture Global
7D
-4.5%
1Y
n/a
FANG
US$146.37
Diamondback Energy
7D
1.1%
1Y
-19.5%
PR
US$13.68
Permian Resources
7D
3.4%
1Y
-9.8%
EXE
US$116.98
Expand Energy
7D
1.9%
1Y
21.3%

EXE: Improved Margin Projections and Completed Buyback Will Offset Lower Revenue

Analysts have raised their price target for Expand Energy from $128.78 to $130.22. This change is based on improved profit margin projections, which are seen as outweighing lower revenue growth estimates and a slightly lower discount rate.
HAL
US$26.62
Halliburton
7D
-3.9%
1Y
-12.6%
COP
US$88.72
ConocoPhillips
7D
0.6%
1Y
-22.0%

Earnings Troubles May Signal Larger Issues for ConocoPhillips (NYSE:COP) Shareholders

Nov 13
Earnings Troubles May Signal Larger Issues for ConocoPhillips (NYSE:COP) Shareholders
EOG
US$109.48
EOG Resources
7D
2.7%
1Y
-19.8%

EOG: Secular Gas Demand And Efficiency Gains Will Drive Continued Outperformance

Analysts have modestly adjusted their price target for EOG Resources, raising it by $0.07 to $137.20 per share. This reflects continued expectations for improving profit margins and revenue growth, despite cautious sentiment around capital efficiency and commodity pricing.
OKE
US$68.86
ONEOK
7D
1.4%
1Y
-38.8%

OKE: Upcoming Buybacks And Larger Asset Base Will Support Share Price Momentum

ONEOK's average analyst price target has been reduced. Most recent estimates have moved lower by several dollars per share, as analysts cite concerns about slowing revenue growth, shifting investor priorities toward return of cash, and the evolving impact of recent acquisitions on earnings multiples.
DVN
US$35.07
Devon Energy
7D
3.4%
1Y
-9.5%
TPL
US$957.47
Texas Pacific Land
7D
-3.7%
1Y
-31.5%
LNG
US$215.21
Cheniere Energy
7D
1.7%
1Y
0.2%
SLB
US$35.80
SLB
7D
-3.0%
1Y
-17.7%

SLB: Digital Expansion and AI Momentum Will Drive Long-Term Energy Sector Upside

Analysts have slightly raised their price target for SLB from $45.16 to $45.30, citing ongoing improvements to revenue growth and profit margin forecasts, as well as new digital segment momentum and sector tailwinds. This comes despite continued macroeconomic uncertainty reflected in recent market research.
CVX
US$154.82
Chevron
7D
-0.5%
1Y
-3.7%

CVX: Upcoming Investor Day Will Preview Long-Term Production and Dividend Upside

Chevron's analyst price target has risen from $168.78 to $172.04 per share. Analysts cite solid Q3 results, operational outperformance, and positive expectations ahead of its upcoming investor day as key factors supporting the upward adjustment.