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 Jun 21, 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 | $137.81 | $584.04B | 20.6 | 10.7% | 2.9% | ||
| Chevron Corporation | $173.63 | $346.46B | 26.2 | 7.1% | 4% | ||
| Shell plc | $78.81 | $222.18B | 13.1 | 10% | 3.6% | ||
| TotalEnergies SE | $80.43 | $179.12B | 13.9 | 11% | 4.7% | ||
| ConocoPhillips | $107.74 | $131.32B | 17.0 | 12.4% | 3% | ||
| Enbridge Inc. | $54.55 | $119.12B | 23.8 | 9.4% | 6.7% | ||
| Petróleo Brasileiro S.A. - Petrobras | $16.75 | $107.94B | 5.4 | 29.7% | 7.6% | ||
| BP p.l.c. | $39.10 | $102.06B | 1916.7 | 0.1% | 4.9% | ||
| Petróleo Brasileiro S.A. - Petrobras | $14.99 | $96.6B | 4.8 | 29.7% | 8.5% | ||
| The Williams Companies, Inc. | $73.12 | $89.43B | 34.2 | 17.5% | 2.7% | ||
| Canadian Natural Resources Limited | $41.05 | $85.63B | 11.3 | 25.8% | 4% | ||
| Equinor ASA | $32.38 | $82.08B | 16.6 | 12.2% | 5.7% | ||
| Enterprise Products Partners L.P. | $36.60 | $79.12B | 13.8 | 19.3% | 5.8% | ||
| SLB N.V. | $48.09 | $72.19B | 20.5 | 13.5% | 2.2% | ||
| Eni S.p.A. | $48.95 | $71.98B | 28.5 | 4.6% | 4.5% | ||
| Marathon Petroleum Corporation | $242.91 | $70.91B | 18.3 | 16.7% | 1.5% | ||
| Valero Energy Corporation | $236.30 | $70.66B | 31.2 | 8.7% | 1.9% | ||
| TC Energy Corporation | $67.70 | $70.49B | 29.3 | 9.3% | 3.5% | ||
| Kinder Morgan, Inc. | $31.59 | $70.28B | 23.1 | 9.5% | 3.7% | ||
| EOG Resources, Inc. | $129.98 | $69.23B | 14.3 | 16.8% | 3.1% | ||
| Phillips 66 | $166.14 | $66.61B | 15.4 | 15% | 2.8% | ||
| Suncor Energy Inc. | $55.33 | $65.67B | 16.1 | 13.2% | 2.9% | ||
| Energy Transfer LP | $18.75 | $64.51B | 13.9 | 10.2% | 6.9% | ||
| Baker Hughes Company | $58.41 | $57.93B | 22.5 | 14.4% | 1.6% | ||
| MPLX Lp | $56.84 | $57.7B | 11.8 | 34.4% | 6.9% | ||
| Imperial Oil Limited | $112.55 | $55.96B | 24.6 | 14.3% | 1.7% | ||
| Targa Resources Corp. | $258.58 | $55.5B | 30.3 | 48.4% | 1.5% | ||
| ONEOK, Inc. | $85.03 | $53.57B | 15.7 | 15.2% | 4.8% | ||
| Diamondback Energy, Inc. | $183.50 | $51.62B | 32.0 | 4% | 2.2% | ||
| Occidental Petroleum Corporation | $51.82 | $51.54B | 32.2 | 6.7% | 3.1% |
XOMExxon Mobil Corporation
$137.81Price
Mkt Cap$584.04B
P/E20.6
ROE10.7%
Div Yield2.9%
CVXChevron Corporation
$173.63Price
Mkt Cap$346.46B
P/E26.2
ROE7.1%
Div Yield4%
SHELShell plc
$78.81Price
Mkt Cap$222.18B
P/E13.1
ROE10%
Div Yield3.6%
TTETotalEnergies SE
$80.43Price
Mkt Cap$179.12B
P/E13.9
ROE11%
Div Yield4.7%
COPConocoPhillips
$107.74Price
Mkt Cap$131.32B
P/E17.0
ROE12.4%
Div Yield3%
ENBEnbridge Inc.
$54.55Price
Mkt Cap$119.12B
P/E23.8
ROE9.4%
Div Yield6.7%
PBRPetróleo Brasileiro S.A. - Petrobras
$16.75Price
Mkt Cap$107.94B
P/E5.4
ROE29.7%
Div Yield7.6%
BPBP p.l.c.
$39.10Price
Mkt Cap$102.06B
P/E1916.7
ROE0.1%
Div Yield4.9%
PBR-APetróleo Brasileiro S.A. - Petrobras
$14.99Price
Mkt Cap$96.6B
P/E4.8
ROE29.7%
Div Yield8.5%
WMBThe Williams Companies, Inc.
$73.12Price
Mkt Cap$89.43B
P/E34.2
ROE17.5%
Div Yield2.7%
CNQCanadian Natural Resources Limited
$41.05Price
Mkt Cap$85.63B
P/E11.3
ROE25.8%
Div Yield4%
EQNREquinor ASA
$32.38Price
Mkt Cap$82.08B
P/E16.6
ROE12.2%
Div Yield5.7%
EPDEnterprise Products Partners L.P.
$36.60Price
Mkt Cap$79.12B
P/E13.8
ROE19.3%
Div Yield5.8%
SLBSLB N.V.
$48.09Price
Mkt Cap$72.19B
P/E20.5
ROE13.5%
Div Yield2.2%
EEni S.p.A.
$48.95Price
Mkt Cap$71.98B
P/E28.5
ROE4.6%
Div Yield4.5%
MPCMarathon Petroleum Corporation
$242.91Price
Mkt Cap$70.91B
P/E18.3
ROE16.7%
Div Yield1.5%
VLOValero Energy Corporation
$236.30Price
Mkt Cap$70.66B
P/E31.2
ROE8.7%
Div Yield1.9%
TRPTC Energy Corporation
$67.70Price
Mkt Cap$70.49B
P/E29.3
ROE9.3%
Div Yield3.5%
KMIKinder Morgan, Inc.
$31.59Price
Mkt Cap$70.28B
P/E23.1
ROE9.5%
Div Yield3.7%
EOGEOG Resources, Inc.
$129.98Price
Mkt Cap$69.23B
P/E14.3
ROE16.8%
Div Yield3.1%
PSXPhillips 66
$166.14Price
Mkt Cap$66.61B
P/E15.4
ROE15%
Div Yield2.8%
SUSuncor Energy Inc.
$55.33Price
Mkt Cap$65.67B
P/E16.1
ROE13.2%
Div Yield2.9%
ETEnergy Transfer LP
$18.75Price
Mkt Cap$64.51B
P/E13.9
ROE10.2%
Div Yield6.9%
BKRBaker Hughes Company
$58.41Price
Mkt Cap$57.93B
P/E22.5
ROE14.4%
Div Yield1.6%
MPLXMPLX Lp
$56.84Price
Mkt Cap$57.7B
P/E11.8
ROE34.4%
Div Yield6.9%
IMOImperial Oil Limited
$112.55Price
Mkt Cap$55.96B
P/E24.6
ROE14.3%
Div Yield1.7%
TRGPTarga Resources Corp.
$258.58Price
Mkt Cap$55.5B
P/E30.3
ROE48.4%
Div Yield1.5%
OKEONEOK, Inc.
$85.03Price
Mkt Cap$53.57B
P/E15.7
ROE15.2%
Div Yield4.8%
FANGDiamondback Energy, Inc.
$183.50Price
Mkt Cap$51.62B
P/E32.0
ROE4%
Div Yield2.2%
OXYOccidental Petroleum Corporation
$51.82Price
Mkt Cap$51.54B
P/E32.2
ROE6.7%
Div Yield3.1%
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
40% below S&P 500 trailing P/E
Quality vs market
Lower quality
Net margin 11.8% vs 25.7%; ROE 13.9% vs 47.7%
Income vs market
Higher yield
Sector yield 2.86% vs 1.00%
Comparison table
Winner should register in under three seconds.
| Metric | Energy Sector | S&P 500 | Delta | Winner |
|---|---|---|---|---|
Trailing P/E Sector is cheaper | 20.8x | 34.5x | -40% | Sector cheaper |
Forward P/E Sector is cheaper | 12.1x | 24.2x | -50% | Sector cheaper |
EV/EBITDA Sector is cheaper | 9.5x | 23.1x | -59% | Sector cheaper |
Net Margin Market is stronger | 11.8% | 25.7% | -54% | S&P 500 stronger |
ROE Market is stronger | 13.9% | 47.7% | -71% | S&P 500 stronger |
Dividend Yield Sector is stronger | 2.9% | 1.0% | +187% | Sector yields more |
History check
Is the current premium normal?
1-year contextCheap vs history
0th percentile; range 20.8x to 25.3x
5-year contextCheap vs history
12th percentile; range 7.5x to 117.8x
Internal health
Median revenue growth0.8%
Median gross margin29.7%
Median FCF margin11.8%
Against the S&P 500, Energy Sector currently trades at 20.8x trailing earnings versus 34.5x 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 | 46.0% $2.03T | Neutral -11.5% median 3M | Cheap 6.8x median Fwd P/E | Mixed 12.6% median ROE | Weak -4.3% rev growth | Mixed Concentrated |
Midstream Oil & Gas 47 stocks | 21.3% $935.79B | Leading -0.1% median 3M | Fair 14.0x median Fwd P/E | High 11.6% median ROE | Average 8.9% rev growth | Watchlist Diversified |
Oil & Gas E&P 77 stocks | 16.1% $707.47B | Neutral -11.0% median 3M | Cheap 8.8x median Fwd P/E | High 6.5% median ROE | Weak -2.1% rev growth | Attractive Diversified |
Oilfield Services 50 stocks | 6.9% $305.09B | Neutral -0.5% median 3M | Premium 19.9x median Fwd P/E | Mixed 6.7% median ROE | Weak 1.3% rev growth | Mixed Diversified |
Oil Refining & Marketing 18 stocks | 5.8% $256.9B | Neutral -4.1% median 3M | Fair 8.2x median Fwd P/E | Mixed 13.0% median ROE | Strong -1.4% rev growth | Watchlist One-name heavy |
Uranium 10 stocks | 1.6% $72.2B | Neutral -8.8% median 3M | Premium 67.5x median Fwd P/E | Mixed -9.0% median ROE | Average -4.5% rev growth | Mixed One-name heavy |
Solar 22 stocks | 1.1% $46.89B | Neutral -6.8% median 3M | Premium 14.6x median Fwd P/E | Weak -2.4% median ROE | Strong 27.0% rev growth | Mixed One-name heavy |
Oil & Gas Drilling 9 stocks | 0.6% $25.75B | Lagging -12.8% median 3M | Premium 39.7x median Fwd P/E | Weak -0.9% median ROE | Average 7.1% rev growth | Broken Concentrated |
Coal 12 stocks | 0.5% $22.57B | Neutral -7.3% median 3M | Premium 26.4x median Fwd P/E | Weak -1.7% median ROE | Weak -7.0% rev growth | Mixed Diversified |
Oil & Gas Energy 6 stocks | 0.0% $1.33B | Lagging -13.1% median 3M | Cheap 4.2x 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% $1.27B | Leading +25.5% median 3M | Fair - median Fwd P/E | Weak -11.3% 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.
46.0% OF SECTOR
Integrated Oil & Gas
Cheap vs sectorMixed 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 sits below sector norms. Leadership is concentrated in a few names.
Median 3M return
-11.5%
Forward P/E
6.8x
Top 3 weight
56.9%
Market cap
$2.03T
Coverage
18 stocks
Breadth
22% pos. in 3M
Open filtered screener
21.3% OF SECTOR
Midstream Oil & Gas
Fairly pricedHigh qualityLeadingAverage growthDiversified
Midstream Oil & Gas is a core pocket of energy, still leading on price action; growth is near the sector average, business quality is stronger than the sector median, and valuation is close to sector norms.
Median 3M return
-0.1%
Forward P/E
14.0x
Top 3 weight
30.7%
Market cap
$935.79B
Coverage
47 stocks
Breadth
49% pos. in 3M
Open filtered screener
16.1% OF SECTOR
Oil & Gas E&P
Cheap vs sectorHigh qualityNeutralWeak growthDiversified
Oil & Gas E&P is a major pocket of energy, moving broadly in line with the rest of the sector; growth is softer than the sector average, business quality is stronger than the sector median, and valuation sits below sector norms.
Median 3M return
-11.0%
Forward P/E
8.8x
Top 3 weight
40.5%
Market cap
$707.47B
Coverage
77 stocks
Breadth
19% pos. in 3M
Open filtered screener
6.9% OF SECTOR
Oilfield Services
Premium vs sectorMixed qualityNeutralWeak growthDiversified
Oilfield Services is a meaningful 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 still carries a premium.
Median 3M return
-0.5%
Forward P/E
19.9x
Top 3 weight
52.7%
Market cap
$305.09B
Coverage
50 stocks
Breadth
50% pos. in 3M
Open filtered screener
5.8% OF SECTOR
Oil Refining & Marketing
Fairly pricedMixed qualityNeutralStrong growthOne-name heavy
Oil Refining & Marketing is a meaningful pocket of energy, moving broadly in line with the rest of the sector; growth is running above sector norms, quality signals are mixed, and valuation is close to sector norms. Leadership is extremely concentrated in one or two names.
Median 3M return
-4.1%
Forward P/E
8.2x
Top 3 weight
81.0%
Market cap
$256.9B
Coverage
18 stocks
Breadth
28% pos. in 3M
Open filtered screener
1.6% OF SECTOR
Uranium
Premium vs sectorMixed qualityNeutralAverage growthOne-name heavy
Uranium is a smaller pocket of energy, moving broadly in line with the rest of the sector; 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
-8.8%
Forward P/E
67.5x
Top 3 weight
82.2%
Market cap
$72.2B
Coverage
10 stocks
Breadth
20% pos. in 3M
Open filtered screener
1.1% OF SECTOR
Solar
Premium vs sectorWeak 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 still carries a premium. Leadership is extremely concentrated in one or two names.
Median 3M return
-6.8%
Forward P/E
14.6x
Top 3 weight
81.3%
Market cap
$46.89B
Coverage
22 stocks
Breadth
48% pos. in 3M
Open filtered screener
0.6% OF SECTOR
Oil & Gas Drilling
Premium vs sectorWeak qualityLaggingAverage growthConcentrated
Oil & Gas Drilling is a smaller pocket of energy, currently lagging 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
-12.8%
Forward P/E
39.7x
Top 3 weight
59.2%
Market cap
$25.75B
Coverage
9 stocks
Breadth
11% pos. in 3M
Open filtered screener
0.5% OF SECTOR
Coal
Premium vs sectorWeak qualityNeutralWeak growthDiversified
Coal is a smaller pocket of energy, moving broadly in line with the rest of the sector; growth is softer than the sector average, quality metrics trail the sector median, and valuation still carries a premium.
Median 3M return
-7.3%
Forward P/E
26.4x
Top 3 weight
53.3%
Market cap
$22.57B
Coverage
12 stocks
Breadth
42% 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
-13.1%
Forward P/E
4.2x
Top 3 weight
100.0%
Market cap
$1.33B
Coverage
6 stocks
Breadth
33% pos. in 3M
Open filtered screener
0.0% OF SECTOR
Electric Utilities
Fairly pricedWeak qualityLeadingAverage growthOne-name heavy
Electric Utilities 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 is close to sector norms. Leadership is extremely concentrated in one or two names.
Median 3M return
+25.5%
Forward P/E
-
Top 3 weight
100.0%
Market cap
$1.27B
Coverage
2 stocks
Breadth
100% 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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