Energy in 2026 hinges on global demand, OPEC supply responses, inventories, and capital discipline. The sector generates strong cash returns when prices cooperate, but sentiment shifts fast.
Sector AnalysisETF: XLEUpdated May 6, 2026
Energy Sector Stocks
Energy includes companies tied to oil and gas production, refining, transportation, and services. It is one of the market's most cyclical sectors — earnings react quickly to commodity prices, geopolitics, and capital spending discipline. XLE is the main benchmark. Screening matters because payouts, balance sheets, and commodity sensitivity vary sharply across sub-groups.
Research ByVCP Scanner Editorial Team
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| Ticker | Company | Price | Mkt Cap | P/E | ROE | Div Yield | |
|---|---|---|---|---|---|---|---|
| Exxon Mobil Corporation | $154.88 | $656.38B | 23.1 | 10.7% | 2.6% | ||
| Chevron Corporation | $192.66 | $384.42B | 29.1 | 7.1% | 3.6% | ||
| Shell plc | $89.70 | $253.93B | 14.9 | 10.1% | 3.2% | ||
| TotalEnergies SE | $93.60 | $208.45B | 16.2 | 11% | 4.1% | ||
| ConocoPhillips | $123.32 | $150.31B | 19.4 | 12.4% | 2.6% | ||
| BP p.l.c. | $46.50 | $121.38B | 2279.4 | 0.1% | 4.1% | ||
| Enbridge Inc. | $54.91 | $119.81B | 17.1 | 17.9% | 0.3% | ||
| Equinor ASA | $41.36 | $103.25B | 21.2 | 12.2% | 4.5% | ||
| Canadian Natural Resources Limited | $47.85 | $99.81B | 12.6 | 25.8% | 3.6% | ||
| The Williams Companies, Inc. | $76.12 | $93.08B | 35.6 | 17.5% | 2.6% | ||
| SLB N.V. | $56.00 | $84.06B | 23.8 | 13.5% | 1.9% | ||
| Enterprise Products Partners L.P. | $38.50 | $83.23B | 14.5 | 19.3% | 5.6% | ||
| Eni S.p.A. | $56.50 | $83.09B | 32.2 | 4.6% | 4% | ||
| Suncor Energy Inc. | $69.68 | $82.97B | 19.6 | 13.2% | 2.4% | ||
| Petróleo Brasileiro S.A. - Petrobras | $21.77 | $81.01B | 9.3 | 10.9% | 26.1% | ||
| Marathon Petroleum Corporation | $260.51 | $76.72B | 19.6 | 16.7% | 1.4% | ||
| Valero Energy Corporation | $253.45 | $75.79B | 33.5 | 8.7% | 1.8% | ||
| EOG Resources, Inc. | $140.82 | $75.44B | 15.5 | 16.8% | 2.8% | ||
| Phillips 66 | $180.26 | $72.27B | 16.7 | 15% | 2.6% | ||
| Kinder Morgan, Inc. | $32.29 | $71.84B | 23.6 | 9.5% | 3.6% | ||
| Energy Transfer LP | $20.39 | $70.15B | 15.1 | 10.2% | 6.3% | ||
| TC Energy Corporation | $66.25 | $68.98B | 27.6 | 9.3% | 3.7% | ||
| Baker Hughes Company | $67.78 | $67.22B | 26.1 | 14.4% | 1.4% | ||
| Imperial Oil Limited | $132.95 | $66.11B | 28.0 | 14.3% | 1.5% | ||
| Occidental Petroleum Corporation | $59.34 | $58.85B | 36.9 | 6.7% | 2.7% | ||
| Diamondback Energy, Inc. | $206.19 | $58B | 36.0 | 4% | 1.9% | ||
| Cenovus Energy Inc. | $30.45 | $57.44B | 19.3 | 12.8% | 1.9% | ||
| ONEOK, Inc. | $90.02 | $56.72B | 16.6 | 15.2% | 4.5% | ||
| Cheniere Energy, Inc. | $269.52 | $56.64B | 11.2 | 46.1% | 0.8% | ||
| MPLX Lp | $55.66 | $56.51B | 11.5 | 34.4% | 7.1% |
Market Comparison
Energy Sector vs S&P 500 in one glance
This should answer the only question that matters here: are you getting something better than the market for the price you are paying?
Price vs market
Cheaper
31% below S&P 500 trailing P/E
Quality vs market
Lower quality
Net margin 11.6% vs 24.3%; ROE 13.5% vs 44.1%
Income vs market
Higher yield
Sector yield 2.53% vs 0.99%
Comparison table
Winner should register in under three seconds.
| Metric | Energy Sector | S&P 500 | Delta | Winner |
|---|---|---|---|---|
Trailing P/E Sector is cheaper | 23.1x | 33.6x | -31% | Sector cheaper |
Forward P/E Sector is cheaper | 15.2x | 24.4x | -38% | Sector cheaper |
EV/EBITDA Sector is cheaper | 10.4x | 22.0x | -53% | Sector cheaper |
Net Margin Market is stronger | 11.6% | 24.3% | -52% | S&P 500 stronger |
ROE Market is stronger | 13.5% | 44.1% | -69% | S&P 500 stronger |
Dividend Yield Sector is stronger | 2.5% | 1.0% | +156% | Sector yields more |
History check
Is the current premium normal?
1-year contextNear normal
48th percentile; range 21.0x to 25.3x
5-year contextCheap vs history
14th percentile; range 7.5x to 117.8x
Internal health
Median revenue growth2.7%
Median gross margin29.0%
Median FCF margin10.2%
Against the S&P 500, Energy Sector currently trades at 23.1x trailing earnings versus 33.6x for the broad market. That premium only makes sense if investors keep believing the sector deserves better margins, stronger returns on equity, and more durable growth than the index overall.
Industry Breakdown
Where the real weight sits inside Energy Sector
These cards are built from the full sector universe, then ranked by market cap so you can see which pockets are leading, rich, resilient, or dangerously concentrated.
Industry Scoreboard
Fast scan of Energy Sector industry setups
Use this table to spot heavyweights, cheap pockets, leaders, and genuinely beaten-down areas before opening the detailed cards below.
Integrated Oil & Gas 18 stocks | 46.1% $2.21T | Neutral +22.3% median 3M | Fair 8.8x median Fwd P/E | Mixed 11.1% median ROE | Weak -4.0% rev growth | Mixed Concentrated |
Midstream Oil & Gas 47 stocks | 20.3% $973.62B | Neutral +14.9% median 3M | Fair 14.7x median Fwd P/E | High 11.3% median ROE | Average 4.3% rev growth | Watchlist Diversified |
Oil & Gas E&P 77 stocks | 17.0% $813.65B | Leading +25.1% median 3M | Cheap 10.6x median Fwd P/E | High 8.4% median ROE | Average -0.9% rev growth | Attractive Diversified |
Oilfield Services 50 stocks | 7.1% $341.86B | Leading +18.2% median 3M | Premium 20.7x median Fwd P/E | Mixed 7.3% median ROE | Strong 0.8% rev growth | Expensive Leader Diversified |
Oil Refining & Marketing 18 stocks | 5.9% $281.4B | Leading +26.0% median 3M | Fair 11.7x median Fwd P/E | Mixed 13.0% median ROE | Strong -1.1% rev growth | Watchlist Concentrated |
Uranium 10 stocks | 1.7% $79.19B | Lagging +4.4% median 3M | Premium 72.6x median Fwd P/E | Mixed -10.8% median ROE | Average 4.6% rev growth | Mixed One-name heavy |
Solar 22 stocks | 0.8% $40.25B | Neutral -15.8% median 3M | Fair 12.3x median Fwd P/E | Weak -2.1% median ROE | Strong -1.6% rev growth | Watchlist One-name heavy |
Oil & Gas Drilling 9 stocks | 0.7% $31.8B | Leading +28.5% median 3M | Premium 29.6x median Fwd P/E | Weak -2.7% median ROE | Average 5.0% rev growth | Mixed Concentrated |
Coal 12 stocks | 0.4% $20.89B | Lagging -7.3% median 3M | Fair 19.5x median Fwd P/E | Weak -1.1% median ROE | Weak -7.1% rev growth | Broken Diversified |
Oil & Gas Energy 6 stocks | 0.0% $1.36B | Lagging -0.0% median 3M | Cheap 9.6x median Fwd P/E | High 17.4% median ROE | Strong 116.3% rev growth | Beaten Down One-name heavy |
Electric Utilities 2 stocks | 0.0% $1.01B | Neutral +26.1% median 3M | Fair - median Fwd P/E | Weak 0.7% median ROE | Average - rev growth | Mixed One-name heavy |
Showing 11 of 11 industries in Energy Sector.
Setup is a quick read of value, quality, growth, momentum, and concentration together.
46.1% OF SECTOR
Integrated Oil & Gas
Fairly pricedMixed qualityNeutralWeak growthConcentrated
Integrated Oil & Gas is a core pocket of energy, moving broadly in line with the rest of the sector; growth is softer than the sector average, quality signals are mixed, and valuation is close to sector norms. Leadership is concentrated in a few names.
Median 3M return
+22.3%
Forward P/E
8.8x
Top 3 weight
58.6%
Market cap
$2.21T
Coverage
18 stocks
Breadth
89% pos. in 3M
Open filtered screener
20.3% OF SECTOR
Midstream Oil & Gas
Fairly pricedHigh qualityNeutralAverage growthDiversified
Midstream Oil & Gas is a core pocket of energy, moving broadly in line with the rest of the sector; growth is near the sector average, business quality is stronger than the sector median, and valuation is close to sector norms.
Median 3M return
+14.9%
Forward P/E
14.7x
Top 3 weight
30.4%
Market cap
$973.62B
Coverage
47 stocks
Breadth
87% pos. in 3M
Open filtered screener
17.0% OF SECTOR
Oil & Gas E&P
Cheap vs sectorHigh qualityLeadingAverage growthDiversified
Oil & Gas E&P is a major pocket of energy, still leading on price action; growth is near the sector average, business quality is stronger than the sector median, and valuation sits below sector norms.
Median 3M return
+25.1%
Forward P/E
10.6x
Top 3 weight
40.0%
Market cap
$813.65B
Coverage
77 stocks
Breadth
84% pos. in 3M
Open filtered screener
7.1% OF SECTOR
Oilfield Services
Premium vs sectorMixed qualityLeadingStrong growthDiversified
Oilfield Services is a meaningful pocket of energy, still leading on price action; growth is running above sector norms, quality signals are mixed, and valuation still carries a premium.
Median 3M return
+18.2%
Forward P/E
20.7x
Top 3 weight
54.4%
Market cap
$341.86B
Coverage
50 stocks
Breadth
82% pos. in 3M
Open filtered screener
5.9% OF SECTOR
Oil Refining & Marketing
Fairly pricedMixed qualityLeadingStrong growthConcentrated
Oil Refining & Marketing is a meaningful pocket of energy, still leading on price action; growth is running above sector norms, quality signals are mixed, and valuation is close to sector norms. Leadership is concentrated in a few names.
Median 3M return
+26.0%
Forward P/E
11.7x
Top 3 weight
79.9%
Market cap
$281.4B
Coverage
18 stocks
Breadth
78% pos. in 3M
Open filtered screener
1.7% OF SECTOR
Uranium
Premium vs sectorMixed qualityLaggingAverage growthOne-name heavy
Uranium is a smaller pocket of energy, currently lagging on price action; growth is near the sector average, quality signals are mixed, and valuation still carries a premium. Leadership is extremely concentrated in one or two names.
Median 3M return
+4.4%
Forward P/E
72.6x
Top 3 weight
81.9%
Market cap
$79.19B
Coverage
10 stocks
Breadth
70% pos. in 3M
Open filtered screener
0.8% OF SECTOR
Solar
Fairly pricedWeak qualityNeutralStrong growthOne-name heavy
Solar is a smaller pocket of energy, moving broadly in line with the rest of the sector; growth is running above sector norms, quality metrics trail the sector median, and valuation is close to sector norms. Leadership is extremely concentrated in one or two names.
Median 3M return
-15.8%
Forward P/E
12.3x
Top 3 weight
78.2%
Market cap
$40.25B
Coverage
22 stocks
Breadth
33% pos. in 3M
Open filtered screener
0.7% OF SECTOR
Oil & Gas Drilling
Premium vs sectorWeak qualityLeadingAverage growthConcentrated
Oil & Gas Drilling is a smaller pocket of energy, still leading on price action; growth is near the sector average, quality metrics trail the sector median, and valuation still carries a premium. Leadership is concentrated in a few names.
Median 3M return
+28.5%
Forward P/E
29.6x
Top 3 weight
57.6%
Market cap
$31.8B
Coverage
9 stocks
Breadth
100% pos. in 3M
Open filtered screener
0.4% OF SECTOR
Coal
Fairly pricedWeak qualityLaggingWeak growthDiversified
Coal is a smaller pocket of energy, currently lagging on price action; growth is softer than the sector average, quality metrics trail the sector median, and valuation is close to sector norms.
Median 3M return
-7.3%
Forward P/E
19.5x
Top 3 weight
52.6%
Market cap
$20.89B
Coverage
12 stocks
Breadth
25% pos. in 3M
Open filtered screener
0.0% OF SECTOR
Oil & Gas Energy
Cheap vs sectorHigh qualityLaggingStrong growthOne-name heavy
Oil & Gas Energy is a smaller pocket of energy, currently lagging on price action; growth is running above sector norms, business quality is stronger than the sector median, and valuation sits below sector norms. Leadership is extremely concentrated in one or two names.
Median 3M return
-0.0%
Forward P/E
9.6x
Top 3 weight
100.0%
Market cap
$1.36B
Coverage
6 stocks
Breadth
33% pos. in 3M
Open filtered screener
0.0% OF SECTOR
Electric Utilities
Fairly pricedWeak qualityNeutralAverage growthOne-name heavy
Electric Utilities is a smaller pocket of energy, moving broadly in line with the rest of the sector; growth is near the sector average, quality metrics trail the sector median, and valuation is close to sector norms. Leadership is extremely concentrated in one or two names.
Median 3M return
+26.1%
Forward P/E
-
Top 3 weight
100.0%
Market cap
$1.01B
Coverage
2 stocks
Breadth
50% pos. in 3M
Open filtered screener
Sector Outlook
Energy Sector Outlook - Q1 2026
Updated Q1 2026
Integrated majors and disciplined producers attract attention when free cash flow and buybacks are the priority. Higher-cost operators need stronger commodity prices to sustain leadership.
Many investors focus on balance sheet quality, asset position, and clear capital return frameworks rather than trying to trade every oil move.
Earnings Calendar
Upcoming Earnings in Energy Sector
Earnings reports are the biggest near-term catalysts for sector moves. Track which names report in the next 60 days and size your positions accordingly.
No earnings in the next 60 days
Check individual stock pages for the latest earnings dates and estimated EPS.
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