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U.S. Energy Sector Analysis

UpdatedApr 04, 2026
DataAggregated Company Financials
Companies431
  • 7D-5.0%
  • 3M29.0%
  • 1Y48.5%
  • YTD29.0%

Over the last 7 days, the Energy industry has dropped 5.0%, driven by a pullback from Exxon Mobil of 6.0%. In contrast, Frontline has gained 8.8%. Over the past 12 months, the industry was up 48%. Earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 04 Apr 2026US$3.0tUS$1.9tUS$130.6b17.6x23.3x1.6x
Mon, 02 Mar 2026US$2.9tUS$1.9tUS$130.3b17.4x21.9x1.5x
Wed, 28 Jan 2026US$2.6tUS$1.9tUS$126.0b16.8x20.2x1.4x
Fri, 26 Dec 2025US$2.3tUS$1.9tUS$126.3b14.9x18.3x1.2x
Sun, 23 Nov 2025US$2.3tUS$1.9tUS$124.9b15.6x18.3x1.2x
Tue, 21 Oct 2025US$2.3tUS$1.9tUS$125.4b13.7x18.1x1.2x
Thu, 18 Sep 2025US$2.3tUS$1.9tUS$125.9b13.8x18.6x1.3x
Sat, 16 Aug 2025US$2.2tUS$1.9tUS$126.3b13.1x17.8x1.2x
Mon, 14 Jul 2025US$2.4tUS$1.9tUS$134.5b12.1x17.6x1.2x
Wed, 11 Jun 2025US$2.2tUS$1.9tUS$134.4b11.9x16.5x1.2x
Fri, 09 May 2025US$2.1tUS$1.9tUS$135.4b11.5x15.7x1.1x
Sun, 06 Apr 2025US$2.1tUS$1.9tUS$143.8b11.3x14.4x1.1x
Tue, 04 Mar 2025US$2.4tUS$1.9tUS$143.7b12.5x16.6x1.3x
Thu, 30 Jan 2025US$2.4tUS$1.9tUS$159.6b12.4x15.2x1.3x
Sat, 28 Dec 2024US$2.2tUS$1.9tUS$158.3b11.6x14.2x1.2x
Mon, 25 Nov 2024US$2.5tUS$1.9tUS$158.6b12.2x15.8x1.3x
Wed, 23 Oct 2024US$2.3tUS$2.0tUS$175.9b11.4x13.3x1.2x
Fri, 20 Sep 2024US$2.3tUS$2.0tUS$172.6b11.9x13.2x1.2x
Sun, 18 Aug 2024US$2.3tUS$2.0tUS$172.2b11.6x13.5x1.2x
Tue, 16 Jul 2024US$2.3tUS$1.9tUS$176.0b11.8x13.1x1.2x
Thu, 13 Jun 2024US$2.3tUS$1.9tUS$176.3b11.6x12.9x1.2x
Sat, 11 May 2024US$2.4tUS$1.9tUS$175.3b11.6x13.4x1.2x
Mon, 08 Apr 2024US$2.5tUS$2.0tUS$206.0b11x12.2x1.3x
Wed, 06 Mar 2024US$2.2tUS$2.0tUS$207.3b9x10.7x1.1x
Fri, 02 Feb 2024US$2.2tUS$2.1tUS$237.7b8.5x9.4x1.1x
Sun, 31 Dec 2023US$2.3tUS$2.1tUS$242.2b8.6x9.3x1.1x
Tue, 28 Nov 2023US$2.3tUS$2.1tUS$242.5b8.8x9.4x1.1x
Thu, 26 Oct 2023US$2.3tUS$2.2tUS$273.4b7.4x8.6x1.1x
Sat, 23 Sep 2023US$2.4tUS$2.2tUS$272.6b7.6x8.7x1.1x
Mon, 21 Aug 2023US$2.7tUS$2.2tUS$272.4b7.8x9.9x1.2x
Wed, 19 Jul 2023US$2.5tUS$2.4tUS$315.8b6.9x8x1.1x
Fri, 16 Jun 2023US$2.4tUS$2.4tUS$315.8b7.1x7.7x1x
Sun, 14 May 2023US$2.1tUS$2.4tUS$316.1b6.5x6.6x0.9x
Tue, 11 Apr 2023US$2.2tUS$2.4tUS$279.2b6.8x8x0.9x
Price to Earnings Ratio

8x


Total Market Cap: US$2.2tTotal Earnings: US$279.2bTotal Revenue: US$2.4tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Energy Sector Price to Earnings3Y Average 13.8x202420252026
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 23.3x which is higher than its 3-year average PE of 13.8x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.6x.
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 Market3.46%
Energy-5.02%
Energy Services-4.50%
Oil and Gas-5.08%
Industry PE
  • Investors are most optimistic about the Energy Services industry which is trading above its 3-year average PE ratio of 23.6x.
    • Analysts are expecting annual earnings growth of 18.4%, which is higher than its past year's earnings decline of 30.7% 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 13.3x.
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 31% per year.
  • In contrast, the Oil and Gas industry is expected to see its earnings grow by 10% 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
FRO FrontlineUS$36.608.8%
+US$656.7m		185.3%PE21.5x
UEC Uranium EnergyUS$13.575.0%
+US$318.6m		221.6%PS329.3x
CLMT CalumetUS$35.069.4%
+US$260.3m		259.6%PS0.7x
INSW International SeawaysUS$75.385.9%
+US$208.6m		162.1%PE12.1x
TNK Teekay TankersUS$76.996.3%
+US$157.3m		123.4%PE7.6x

Latest News

CVX
US$198.97
Chevron
7D
-5.8%
1Y
38.9%

CVX: Venezuela Licensing And Oil Market Risks Will Shape Future Cash Returns

Narrative Update: Chevron Chevron's updated analyst price target of $203, up from $192.29, reflects analysts incorporating higher long term oil price assumptions, modestly higher revenue growth expectations, and a slightly richer forward P/E multiple in light of recent sector wide target raises and upgrades. Analyst Commentary Recent research shows a clear tilt toward higher Chevron price targets, but with a wide spread of opinions on how durable the backdrop for oil and gas will be and what that could mean for valuation, execution risk, and growth options.
EQT
US$59.70
EQT
7D
-11.6%
1Y
29.5%
XOM
US$160.69
Exxon Mobil
7D
-6.0%
1Y
54.0%

Advantaged Assets And Lower Carbon Solutions Will Transform Long Term Earnings Power

Catalysts About Exxon Mobil Exxon Mobil is a global energy and chemical company involved in oil and gas production, refining, chemicals and lower carbon solutions. What are the underlying business or industry changes driving this perspective?
PSX
US$176.21
Phillips 66
7D
-6.4%
1Y
78.3%

Midstream Expansion And Heavy Crude Optionality Will Define This Refining Leader’s Next Chapter

Catalysts About Phillips 66 Phillips 66 is an integrated energy company with operations in refining, midstream, chemicals and marketing across North America and Europe. What are the underlying business or industry changes driving this perspective?
TPL
US$444.24
Texas Pacific Land
7D
-13.2%
1Y
23.5%

Texas Pacific Land Corporation: Still Too Expensive

Apr 02
CLMT
US$35.06
Calumet
7D
9.4%
1Y
259.6%
INSW
US$75.38
International Seaways
7D
5.9%
1Y
162.1%

INSW: Dividends And Cost Efficiency Will Shape Balanced Debt And Cash Return Outlook

Analysts have raised the implied fair value for International Seaways from $61.40 to $75.20. This change reflects higher Street price targets in the $80 to $90 range as they incorporate resilient spot rates, lower cash costs, and ongoing balance sheet improvement following fleet renewal investments.
UEC
US$13.57
Uranium Energy
7D
5.0%
1Y
221.6%
COP
US$130.52
ConocoPhillips
7D
-2.5%
1Y
51.3%
NESR
US$22.64
National Energy Services Reunited
7D
5.3%
1Y
264.6%

NESR: Jafurah Ramp And Regional Exposure Will Shape Future Risk Reward Balance

Analyst price targets for National Energy Services Reunited have moved sharply higher, with recent updates ranging from $21 to $34 as analysts factor in stronger Jafurah activity, resilient margins and the company's hydraulic fracturing position in the Middle East. Analyst Commentary Recent Street research on National Energy Services Reunited centers on higher Q4 expectations, the ramp at Jafurah and the company’s hydraulic fracturing capacity in the Middle East.
TNK
US$76.99
Teekay Tankers
7D
6.3%
1Y
123.4%

TNK: Fair Value View Balances Peak Rate Risks And Governance Concerns

Analyst price targets for Teekay Tankers have recently shifted higher into a $69 to $84 range, as analysts factor in updated views on tanker rates, parent company risks, orderbook trends, and the potential impact of any sanctions unwind. Analyst Commentary Recent Street research on Teekay Tankers has moved price targets into a $69 to $84 band, but the tone is not uniformly positive.
FRO
US$36.60
Frontline
7D
8.8%
1Y
185.3%
SLB
US$49.44
SLB
7D
-7.6%
1Y
42.2%
TDW
US$84.38
Tidewater
7D
2.4%
1Y
142.6%

TDW: Raised Outlook Into 2026 Will Face Execution And Timing Risks

The updated analyst work lifts Tidewater's fair value estimate from $45 to $52, with the higher target supported by Street research highlighting a raised $94 price target and expectations for a stronger setup into 2026. Analyst Commentary The latest Street research highlights a higher price target of $94 and an In Line rating.
VG
US$14.64
Venture Global
7D
-16.5%
1Y
95.7%
NAT
US$6.15
Nordic American Tankers
7D
8.7%
1Y
178.3%