Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Energy Sector Analysis

UpdatedJan 14, 2026
DataAggregated Company Financials
Companies441
  • 7D3.5%
  • 3M8.0%
  • 1Y1.2%
  • YTD3.0%

The Energy industry is up 3.5% in the last week, with Exxon Mobil up 4.5%. The industry has been flat over the past 12 months despite the gain this week. Looking forward, earnings are forecast to grow by 12% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Tue, 28 Mar 2023US$2.1tUS$2.4tUS$280.8b6.8x7.5x0.9x
Thu, 23 Feb 2023US$2.2tUS$2.3tUS$277.3b7.2x7.9x0.9x
Sat, 21 Jan 2023US$2.4tUS$2.3tUS$257.1b8.2x9.3x1x
Price to Earnings Ratio

9.3x


Total Market Cap: US$2.4tTotal Earnings: US$257.1bTotal Revenue: US$2.3tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Sector Price to Earnings3Y Average 12.8x202420252026
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 19.0x which is higher than its 3-year average PE of 12.8x.
  • 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 6.5% 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 Market0.24%
Energy3.49%
Oil and Gas3.50%
Energy Services3.38%
Industry PE
  • Investors are most optimistic about the Energy Services industry which is trading above its 3-year average PE ratio of 24.8x.
    • Analysts are expecting annual earnings growth of 16.4%, which is higher than its past year's earnings decline of 20.4% 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 12.4x.
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 20% 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
XOM Exxon MobilUS$126.544.5%
+US$23.2b		15.3%PE17.8x
CVX ChevronUS$163.874.7%
+US$14.8b		4.4%PE25.8x
SLB SLBUS$45.905.2%
+US$3.4b		15.1%PE18.8x
VG Venture GlobalUS$7.8813.2%
+US$2.3b		n/aPE9.3x
OKE ONEOKUS$74.254.8%
+US$2.1b		-30.0%PE14x

Latest News

CRK
US$22.36
Comstock Resources
7D
-2.4%
1Y
7.2%
EXE
US$102.98
Expand Energy
7D
-2.3%
1Y
-1.1%

EXE: Higher 2025 Output Guidance And Completed Buybacks Will Support Bullish Outlook

Analysts have slightly reduced their price target on Expand Energy, citing updated fair value estimates of US$132.04 compared with the prior US$133.39, along with refreshed assumptions for revenue growth, profit margin and future P/E. What's in the News Expand Energy reported that from July 1, 2025 to September 30, 2025, it repurchased 0 shares for US$0 million, completing the previously announced buyback with a total of 851,661 shares repurchased for US$99.99 million, representing 0.36% of shares (Key Developments).
TPL
US$321.83
Texas Pacific Land
7D
9.5%
1Y
-27.3%

TPL: Future Returns Will Be Pressured By Overvaluation Despite Rising Production

Analysts have reduced their price target for Texas Pacific Land from about US$842.50 to roughly US$280.83, citing updates to fair value estimates, discount rate assumptions, and a slightly higher future P/E. What's in the News Planned 3 for 1 stock split or significant stock dividend is scheduled for December 23, 2025, affecting Texas Pacific Land Corporation shares (company filing).
COP
US$96.46
ConocoPhillips
7D
-0.7%
1Y
-8.0%

COP: Free Cash Flow Will Improve As Peak Capex Eases And Volumes Advance

Analysts have trimmed their price targets on ConocoPhillips, with our fair value estimate edging from US$112.37 to about US$111.48 as they factor in a softer crude backdrop, updated 2025 and 2026 guidance, and mixed expectations around cash flow and organic growth. Analyst Commentary Recent Street research around ConocoPhillips reflects a mix of optimism on execution and balance sheet quality, alongside caution around crude pricing and near term cash flow.
CVI
US$22.78
CVR Energy
7D
-7.5%
1Y
11.2%
EOG
US$108.04
EOG Resources
7D
2.9%
1Y
-20.4%

EOG: Secular Gas Demand And 2025 Guidance Will Support Cash Flow Upside

Analysts have nudged their fair value estimate for EOG Resources slightly lower to $135.33 from $136.20, as recent price target adjustments across the Street balance updated 2025-2026 guidance with a mixed view on oil versus gas exposure. Analyst Commentary Recent Street commentary around EOG Resources reflects a split view, with some focusing on long term gas demand and capital efficiency, while others flag near term cash flow pressures and exposure to weaker realizations.
BKR
US$48.97
Baker Hughes
7D
-0.8%
1Y
8.7%

BKR: IET Resilience And Potential Breakup Will Shape Next Cycle Outlook

Analysts have made only a small adjustment to their Baker Hughes price targets, with a blended fair value estimate now effectively unchanged at about US$53. This reflects mixed views, as some firms trimmed targets on more cautious oilfield spending expectations, while others nudged them higher on resilient U.S. activity and the ongoing strength of the Industrial & Energy Technology business.
EQT
US$51.59
EQT
7D
-3.4%
1Y
1.8%

EQT: Integrated Gas Model Will Benefit From LNG And Datacenter Demand

Narrative Update on EQT The updated analyst price target for EQT edges slightly lower to about US$80. This reflects analysts' view of a somewhat higher future P/E multiple alongside revised assumptions for revenue growth, profit margins, and a fair value estimate that is broadly in line with prior work, supported by expectations for structurally tighter U.S. gas markets and EQT's low cost, vertically integrated model.
LEU
US$298.27
Centrus Energy
7D
-4.4%
1Y
327.0%

LEU: DOE Award And Dilution Risk Will Shape Future Return Profile

Narrative Update Analysts have lifted their implied fair value for Centrus Energy from about US$108 to roughly US$168, citing the US$900m Department of Energy award, an earlier expected commercialization timeline, and greater confidence in future margins and funding visibility. Analyst Commentary Recent Street research on Centrus Energy has centered on the US$900m Department of Energy award for high assay low enriched uranium production and what that could mean for the company’s future capacity, funding visibility, and timing to market.
SLB
US$45.90
SLB
7D
5.2%
1Y
15.1%

SLB: Macro Headwinds And Weaker Oil Prices Will Pressure Future Performance

Analysts have nudged their fair value estimate for SLB up to $38 from $36, citing a modestly lower discount rate, higher assumed revenue growth, and a richer future P/E multiple. These changes are informed by recent price target moves that balance optimism on activity and digital tailwinds with caution around macro and valuation risks.
FANG
US$151.21
Diamondback Energy
7D
4.7%
1Y
-14.9%

FANG: Future Cash Discipline And Power Project Support A Balanced Outlook

Analysts have trimmed their fair value estimate for Diamondback Energy from about $164.70 to $149.35 per share. This reflects a mix of slightly lower long term revenue growth assumptions, a higher profit margin outlook, and a reset of future P/E expectations that lines up with the recent round of modestly adjusted Street price targets.
XOM
US$126.54
Exxon Mobil
7D
4.5%
1Y
15.3%

XOM: Cost Savings And Capital Returns Will Support Future Cash Flow Stability

We are trimming our Exxon Mobil fair value estimate slightly to $131.32, reflecting modest tweaks to margin and growth assumptions. Analysts highlight resilient free cash flow, ongoing structural cost savings, and a series of higher price targets in the US$128 to US$156 range that underscore continued confidence in the name.
CVX
US$163.87
Chevron
7D
4.7%
1Y
4.4%

CVX: Future Dividend Capacity Will Reflect Free Cash Flow And Upstream Execution

Analysts have slightly trimmed their Chevron fair value estimate to about $172.08 per share. This reflects modestly softer revenue growth and profit margin assumptions, even as recent price target increases highlight confidence in free cash flow support for dividends and the company’s longer term growth plans.
OKE
US$74.25
ONEOK
7D
4.8%
1Y
-30.0%

OKE: Q3 Synergy Delivery Will Drive Earnings Confidence And Multiple Upside

Analysts have modestly reduced their price target on ONEOK, trimming it by $5 to $78 per share. They are awaiting Q3 results, which they see as a critical test of the company's ability to deliver on synergy goals and sustain earnings growth.
LNG
US$193.69
Cheniere Energy
7D
-0.5%
1Y
-20.3%

We Think Cheniere Energy (NYSE:LNG) Is Taking Some Risk With Its Debt

Jan 04
We Think Cheniere Energy (NYSE:LNG) Is Taking Some Risk With Its Debt
VG
US$7.88
Venture Global
7D
13.2%
1Y
n/a