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U.S. Energy Sector Analysis

UpdatedFeb 13, 2026
DataAggregated Company Financials
Companies441
  • 7D2.8%
  • 3M16.2%
  • 1Y16.4%
  • YTD16.6%

The Energy industry is up 2.8% in the last week, with Exxon Mobil up 2.6%. In the same time, Expand Energy was down 5.4%. This takes the industry's 12 month performance to a gain of 16%. 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
Sat, 14 Feb 2026US$2.8tUS$1.9tUS$128.6b16.8x21.8x1.5x
Mon, 12 Jan 2026US$2.4tUS$1.9tUS$126.3b15.9x19.1x1.3x
Wed, 10 Dec 2025US$2.4tUS$1.9tUS$124.8b15.5x18.9x1.3x
Fri, 07 Nov 2025US$2.3tUS$1.9tUS$126.6b14.6x17.9x1.2x
Sun, 05 Oct 2025US$2.3tUS$1.9tUS$125.9b14x18.5x1.3x
Tue, 02 Sep 2025US$2.3tUS$1.9tUS$126.4b13.7x18.5x1.3x
Thu, 31 Jul 2025US$2.3tUS$1.9tUS$133.8b12.5x17.6x1.2x
Sat, 28 Jun 2025US$2.3tUS$1.9tUS$134.4b11.9x17x1.2x
Mon, 26 May 2025US$2.2tUS$1.9tUS$134.3b11.6x16.1x1.1x
Wed, 23 Apr 2025US$2.1tUS$1.9tUS$143.3b11.3x14.6x1.1x
Fri, 21 Mar 2025US$2.4tUS$1.9tUS$143.9b13.3x16.8x1.3x
Sun, 16 Feb 2025US$2.4tUS$1.9tUS$154.7b12.3x15.5x1.3x
Tue, 14 Jan 2025US$2.3tUS$1.9tUS$158.5b12.1x14.8x1.2x
Thu, 12 Dec 2024US$2.4tUS$1.9tUS$158.5b12.3x14.9x1.2x
Sat, 09 Nov 2024US$2.4tUS$1.9tUS$160.1b11.8x15.1x1.2x
Mon, 07 Oct 2024US$2.4tUS$2.0tUS$175.7b12.1x13.8x1.2x
Wed, 04 Sep 2024US$2.3tUS$2.0tUS$172.2b11.1x13.6x1.2x
Fri, 02 Aug 2024US$2.3tUS$1.9tUS$174.4b11.3x13.4x1.2x
Sun, 30 Jun 2024US$2.3tUS$1.9tUS$176.1b11.2x13.1x1.2x
Tue, 28 May 2024US$2.3tUS$1.9tUS$174.8b11.1x13.1x1.2x
Thu, 25 Apr 2024US$2.5tUS$2.0tUS$204.7b10.8x12x1.2x
Sat, 23 Mar 2024US$2.4tUS$2.0tUS$206.3b9.7x11.5x1.2x
Mon, 19 Feb 2024US$2.2tUS$2.0tUS$215.2b9x10.2x1.1x
Wed, 17 Jan 2024US$2.2tUS$2.1tUS$242.2b8.4x9.2x1.1x
Fri, 15 Dec 2023US$2.2tUS$2.1tUS$242.3b8.7x9.1x1.1x
Sun, 12 Nov 2023US$2.2tUS$2.1tUS$242.7b8.7x9.2x1.1x
Tue, 10 Oct 2023US$2.4tUS$2.2tUS$272.8b7.7x8.7x1.1x
Thu, 07 Sep 2023US$2.4tUS$2.2tUS$272.6b7.8x8.8x1.1x
Sat, 05 Aug 2023US$2.6tUS$2.2tUS$274.1b7.9x9.5x1.2x
Mon, 03 Jul 2023US$2.5tUS$2.4tUS$315.8b7x7.9x1.1x
Wed, 31 May 2023US$2.4tUS$2.4tUS$315.5b6.9x7.6x1x
Fri, 28 Apr 2023US$2.2tUS$2.4tUS$285.8b6.6x7.7x0.9x
Sun, 26 Mar 2023US$2.1tUS$2.4tUS$280.9b6.6x7.3x0.9x
Tue, 21 Feb 2023US$2.2tUS$2.3tUS$272.6b7.4x8.2x1x
Price to Earnings Ratio

8.2x


Total Market Cap: US$2.2tTotal Earnings: US$272.6bTotal Revenue: US$2.3tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Sector Price to Earnings3Y Average 13.1x202420252026
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 21.8x which is higher than its 3-year average PE of 13.1x.
  • 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 22% per year over the last three years,
  • Revenues have also declined 7.4% 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 Market0.52%
Energy2.84%
Energy Services5.37%
Oil and Gas2.55%
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 18.5%, which is higher than its past year's earnings decline of 18.4% 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 12.7x.
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 18% 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
WMB Williams CompaniesUS$72.288.0%
+US$6.5b		26.9%PE33.8x
CVX ChevronUS$183.741.6%
+US$5.7b		18.3%PE29.6x
COP ConocoPhillipsUS$111.433.5%
+US$4.7b		15.8%PE17.1x
TPL Texas Pacific LandUS$432.3118.1%
+US$4.6b		-5.5%PE62.6x
KMI Kinder MorganUS$32.326.0%
+US$4.0b		21.7%PE23.5x

Latest News

CRK
US$19.02
Comstock Resources
7D
-11.8%
1Y
2.5%
HAL
US$33.96
Halliburton
7D
-2.9%
1Y
29.8%
TRGP
US$223.89
Targa Resources
7D
5.9%
1Y
9.0%

Targa Resources Corp.'s (NYSE:TRGP) 27% Jump Shows Its Popularity With Investors

Feb 12
Targa Resources Corp.'s (NYSE:TRGP) 27% Jump Shows Its Popularity With Investors
COP
US$111.43
ConocoPhillips
7D
3.5%
1Y
15.8%
WMB
US$72.28
Williams Companies
7D
8.0%
1Y
26.9%
LEU
US$199.19
Centrus Energy
7D
-24.4%
1Y
74.7%
EXE
US$104.05
Expand Energy
7D
-5.7%
1Y
-1.2%

EXE: Interim Leadership Shift Will Support Continued Bullish Long Term Outlook

Analysts have nudged their price target for Expand Energy slightly higher to about $131.25, citing updated fair value estimates, a modest change in discount rate, slightly weaker revenue growth and profit margin assumptions, and a marginally higher future P/E multiple. What's in the News Expand Energy announced leadership changes effective February 9, 2026, with Chairman of the Board Michael Wichterich appointed Interim CEO, succeeding Domenic (Nick) J.
TPL
US$432.31
Texas Pacific Land
7D
18.1%
1Y
-5.5%

TPL: Overvaluation Will Persist Despite Stock Split And Higher Assumed Future P/E

Analysts have nudged their price target on Texas Pacific Land slightly higher to about US$281 per share, reflecting updated views on discount rates, long term revenue growth, profit margins and future P/E assumptions. What's in the News Texas Pacific Land plans a 3-for-1 stock split or significant stock dividend, scheduled for December 23, 2025 (Key Developments).
VLO
US$200.17
Valero Energy
7D
-1.2%
1Y
47.9%

VLO: Refining Margins And Dividend Policy Will Balance Bearish Crude Outlook

Analysts have raised their blended price target for Valero Energy by about US$8 to reflect updated views on modestly higher revenue growth, slightly lower profit margins, and a higher future P/E multiple, supported by a series of recent target increases across major research firms. Analyst Commentary Recent research updates present a mixed picture, with several firms lifting their price targets by double digit dollar amounts, while at least one has trimmed its target as it reassesses sector headwinds going into 2026.
EOG
US$120.73
EOG Resources
7D
6.2%
1Y
-6.6%

EOG: Future Cash Flow Will Be Supported By 2025 Guidance And Buybacks

Analysts trimmed their fair value estimate for EOG Resources by about $1 to $132.63, reflecting a slightly higher discount rate, a modestly lower future P/E assumption, and updated price targets across the Street that factor in revised commodity price decks and recent rating changes. Analyst Commentary Recent Street research on EOG Resources has centered on fine tuning price targets and ratings as analysts update their commodity assumptions and company specific models.
KMI
US$32.32
Kinder Morgan
7D
6.0%
1Y
21.7%

KMI: Western Gateway Progress And Dividend Guidance Will Shape Balanced Return Outlook

Analysts have inched up their fair value estimate for Kinder Morgan to about $31.76, reflecting recent Street price target increases of $1 to $2 and slightly higher assumed P/E and profit margins, despite a more tempered revenue growth outlook and a modestly lower discount rate. Analyst Commentary Recent Street research has focused on Kinder Morgan's valuation framework, with several firms adjusting price targets and ratings in light of updated P/E and margin assumptions.
SLB
US$50.39
SLB
7D
-0.6%
1Y
20.7%

SLB: Repositioning Toward Production And Venezuela Optionality Will Shape Future Upside Risk Balance

The analyst price target for SLB has been lifted to US$54.08 from US$45.31 as analysts factor in updated Street research that points to slightly lower growth and discount rate assumptions, along with higher profit margin and P/E expectations for the stock. Analyst Commentary Recent Street research on SLB reflects an active debate around how much upside remains in the shares, but with a clear tilt toward higher valuation assumptions as more firms lift their price targets.
CVX
US$183.74
Chevron
7D
1.6%
1Y
18.3%

Chevron (NYSE:CVX) Has Announced That It Will Be Increasing Its Dividend To $1.78

Feb 06
Chevron (NYSE:CVX) Has Announced That It Will Be Increasing Its Dividend To $1.78
XOM
US$148.45
Exxon Mobil
7D
-0.4%
1Y
37.1%
VG
US$9.36
Venture Global
7D
-5.5%
1Y
-41.4%

Venture Global, Inc. (NYSE:VG) Surges 35% Yet Its Low P/E Is No Reason For Excitement

Feb 04
Venture Global, Inc. (NYSE:VG) Surges 35% Yet Its Low P/E Is No Reason For Excitement
OKE
US$86.11
ONEOK
7D
5.2%
1Y
-12.0%

OKE: Dividend Increase And Execution Risks Will Shape Future Earnings Confidence

Analysts have nudged their blended fair value estimate for ONEOK lower from US$88.63 to about US$87.50. This reflects a mix of recent target cuts and a few upward revisions as firms reassess discount rates, revenue growth assumptions, profit margin expectations and future P/E levels.