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

U.S. Energy Sector Analysis

UpdatedSep 10, 2026
DataAggregated Company Financials
Companies426
  • 7D0.2%
  • 3M13.5%
  • 1Y42.6%
  • YTD39.6%

Last week, the Energy industry hasn't moved much but Valero Energy is up 6.2% in that time. As for the the longer term, the industry is up 43% over the past 12 months. Looking forward, earnings are forecast to grow by 5.8% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 11 Sep 2026US$3.2tUS$2.1tUS$173.1b15.6x18.7x1.5x
Sun, 09 Aug 2026US$2.9tUS$2.1tUS$171.8b14.7x17x1.4x
Tue, 07 Jul 2026US$2.7tUS$1.9tUS$125.0b16.1x21.9x1.4x
Thu, 04 Jun 2026US$2.9tUS$1.9tUS$125.1b16.4x23.4x1.5x
Sat, 02 May 2026US$3.1tUS$1.9tUS$137.7b16.9x22.2x1.6x
Mon, 30 Mar 2026US$3.2tUS$1.9tUS$130.6b18.8x24.5x1.7x
Wed, 25 Feb 2026US$2.8tUS$1.9tUS$128.6b16.5x21.8x1.5x
Fri, 23 Jan 2026US$2.5tUS$1.9tUS$126.3b16.1x20.1x1.4x
Sun, 21 Dec 2025US$2.3tUS$1.9tUS$126.3b14.8x18x1.2x
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
Price to Earnings Ratio

8.9x


Total Market Cap: US$2.4tTotal Earnings: US$272.6bTotal Revenue: US$2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Sector Price to Earnings3Y Average 15.8x202420252026
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 18.7x which is higher than its 3-year average PE of 15.8x.
  • The 3-year average PS ratio of 1.3x 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 14% 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-0.22%
Energy0.24%
Oil and Gas0.45%
Energy Services-1.53%
Industry PE
  • Investors are most optimistic about the Energy Services industry which is trading above its 3-year average PE ratio of 21.8x.
    • Analysts are expecting annual earnings growth of 22.7%, which is higher than its past year's earnings decline of 13.2% 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 15.4x.
Forecasted Growth
  • Analysts are most optimistic on the Energy Services industry, expecting annual earnings growth of 23% over the next 5 years.
  • This is better than its past earnings decline of 13% per year.
  • In contrast, the Oil and Gas industry is expected to see its earnings grow by 3.9% 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
VLO Valero EnergyUS$388.956.2%
+US$6.6b		145.4%PE15.6x
CVX ChevronUS$213.811.0%
+US$4.0b		35.5%PE20.4x
MPC Marathon PetroleumUS$399.443.2%
+US$3.5b		119.8%PE13.1x
PSX Phillips 66US$260.781.8%
+US$1.9b		98.4%PE14.7x
VG Venture GlobalUS$15.293.8%
+US$1.4b		9.4%PE11.5x

Latest News

WMB
US$72.82
Williams Companies
7D
-1.7%
1Y
22.7%
Seeking Alpha • 1h

The Williams Companies: A Tough Competitor Tackles The Northeast

Summary The Williams Companies, Inc. faces a recent court setback revoking a key environmental permit for its Northeast pipeline ambitions. WMB targets significant profit by supplying lower-priced natural gas to the energy-constrained Northeast. Momentum Midstream acquisition and Gulf export access drive continued growth. This company has multiple projects in the pipeline. Strong Q2 earnings growth and a premium valuation reflect WMB's robust execution. For as long as I can remember, much of the Northeast and Mid-Atlantic has had political and regulatory headwinds.  This may be about to change as reality sets in. Read the full article on Seeking Alpha
PSX
US$258.51
Phillips 66
7D
1.5%
1Y
95.1%
Seeking Alpha • 9h

Phillips 66: I Was Wrong On The Duration, Not On The Cycle

Summary Phillips 66 remains a Hold as current valuation fully prices in strong earnings and favorable macro tailwinds. Q2 results were robust, with non-GAAP EPS of $9.41 and EBITDA of $5.89B, driven by record refining margins and high crude utilization. Balance sheet strength improved markedly as net debt fell to $16.5B and liquidity reached $10.5B, with further deleveraging targeted. Buyback acceleration and sustained margin strength are key forward levers, but risks include geopolitical de-escalation and potential policy intervention. Read the full article on Seeking Alpha
XOM
US$165.23
ExxonMobil Holdings
7D
1.9%
1Y
47.3%
VG
US$15.50
Venture Global
7D
7.0%
1Y
12.7%
FTI
US$75.58
TechnipFMC
7D
-5.6%
1Y
87.5%
Seeking Alpha • Sep 09

After A Home Run, Taking Profits On TechnipFMC (Rating Downgrade)

Summary TechnipFMC plc has delivered exceptional returns post-spin but now faces a shifting macro environment and increased global competition. I downgrade FTI stock to Sell, citing a shrinking backlog, falling book-to-bill, and a less favorable long-term demand outlook for offshore oil. The Subsea7-Saipem merger creates a formidable global competitor, threatening FTI’s market leadership and future order growth. FTI trades at a premium P/E to peers, offers a weak dividend, and lacks the financial strength to capitalize on downturns or industry shifts. Read the full article on Seeking Alpha
VLO
US$385.43
Valero Energy
7D
4.0%
1Y
144.6%
DVN
US$50.02
Devon Energy
7D
2.5%
1Y
41.7%
Seeking Alpha • Sep 08

Devon Energy: Operations Back In Focus After The Coterra Acquisition

Summary Devon Energy (DVN) receives a reiterated buy rating, supported by strong Q2 results and robust operational execution post-Coterra merger. DVN beat Q2 guidance, generated $1.655 billion adjusted FCF, and returned over $1 billion to shareholders via debt reduction, buybacks, and a raised dividend. Management targets $1 billion in annual run-rate synergies and projects FY 2026 EPS growth near 40% to $5.42, with a tightened production outlook. Valuation remains attractive at a 9x P/E multiple and 0.99x PEG, while technicals are constructive with DVN trading above its rising 200-day moving average. Read the full article on Seeking Alpha
OVV
US$64.00
Ovintiv
7D
-2.9%
1Y
51.1%
SLB
US$56.01
SLB
7D
-2.4%
1Y
55.5%
COP
US$137.04
ConocoPhillips
7D
1.0%
1Y
45.6%
Narrative Update • Sep 08

COP: Fair Value View Will Balance Q2 Margins And Middle East Risks

Analysts have nudged the ConocoPhillips fair value estimate to $126 from $121, reflecting a series of higher price targets and updated models that emphasize the company's scale, diversified project pipeline, and balance sheet strength despite mixed rating views across the Street. Analyst Commentary Street research on ConocoPhillips over recent months has been active, with a cluster of price target revisions around the latest quarterly results and management transition.
BKR
US$59.40
Baker Hughes
7D
-6.7%
1Y
26.5%
CVX
US$212.76
Chevron
7D
0.7%
1Y
34.4%
Narrative Update • Sep 03

CVX: Venezuela Expansion And Project Execution Will Shape Future Cash Returns

Analysts have modestly lifted the average Chevron price target to $221 from about $216. They cited stronger expected cash flow contributions from Venezuela assets, updated commodity price assumptions into 2026 and 2027, and recent estimate revisions following quarterly results.
KMI
US$30.95
Kinder Morgan
7D
-2.1%
1Y
12.3%
Narrative Update • Sep 03

KMI: Q2 Beat And Project Sanctions Acceleration Will Support Backlog

Kinder Morgan's updated fair value estimate has moved modestly higher to about $36.05 from $35.33, as analysts factor in a series of price target increases to $34, $35, $36, and $38. This is supported by recent Q2 results, a raised full-year outlook, and expectations for project sanctions to pick up in the second half of the year.
MPC
US$392.42
Marathon Petroleum
7D
1.2%
1Y
115.2%
Narrative Update • Sep 03

MPC: Refining Cycle Strength Will Likely Fade Faster Than Bullish Assumptions

Analysts have lifted the fair value estimate for Marathon Petroleum from about $200 to about $224, citing higher Street price targets supported by strong recent margin capture, tight global refining conditions, updated commodity price assumptions, and more favorable regulatory and policy signals. Analyst Commentary Street research on Marathon Petroleum in recent months has leaned constructive, with many firms lifting price targets and pointing to tight global refining conditions, strong crack spreads, and solid margin capture.
LNG
US$277.84
Cheniere Energy
7D
-4.5%
1Y
17.2%
HAL
US$36.07
Halliburton
7D
-3.3%
1Y
61.7%