§ Sector lens

Energy

Cyclical capital-allocators. We model through-cycle commodity prices, reinvestment discipline, and shareholder returns. Free cash flow at mid-cycle prices is the anchor — not spot.

Tickers covered

-12.0%

Avg. upside to FV

6.3

Avg. moat

Coverage

Ticker	Price	Fair value	Upside	Rating	Moat
LNG Cheniere Energy, Inc. · Cyclical	$269.95 —	$443.29 Potential value $818.35	+64.2%	Strong Buy	7.5
EOG EOG Resources Inc. · Cyclical	$140.35 —	$166.77 Potential value $284.99	+18.8%	Buy	6.5
HAL Halliburton Company · Cyclical	$31.85 —	$35.90 Potential value $47.80	+12.7%	Buy	6.5
EQT EQT Corporation · Cyclical	$50.17 —	$54.24 Potential value $78.94	+8.1%	Hold	6
COP ConocoPhillips · Cyclical	$127.30 ▲ +13.43 (+11.8%)	$125.61 Potential value $175.72	-1.3%	Hold	5.5
SLB SLB N.V. · Cyclical	$48.74 —	$47.18 Potential value $60.79	-3.2%	Hold	7.5
OKE ONEOK, Inc. · Cyclical	$88.63 —	$74.71 Potential value $80.59	-15.7%	Reduce	6.5
PSX Phillips 66 · Cyclical	$264.58 —	$218.75 Potential value $411.42	-17.3%	Reduce	6.5
CVX Chevron Corporation · Cyclical	$208.60 ▲ +27.15 (+15.0%)	$169.93 Potential value $244.06	-18.5%	Reduce	1
MPC Marathon Petroleum Corporation · Cyclical	$422.33 —	$340.57 Potential value $585.75	-19.4%	Reduce	6.5
BKR Baker Hughes Company · Cyclical	$66.73 —	$53.27 Potential value $67.58	-20.2%	Sell	6.5
VLO Valero Energy Corporation · Cyclical	$406.30 —	$314.88 Potential value $505.32	-22.5%	Sell	6.5
FANG Diamondback Energy Inc. · Cyclical	$204.33 —	$152.45 Potential value $212.81	-25.4%	Sell	3
KMI Kinder Morgan, Inc. · Cyclical	$32.49 —	$23.51 Potential value $29.98	-27.6%	Sell	7
XOM ExxonMobil Holdings Corporation · Cyclical	$160.48 ▼ -0.01 (-0.0%)	$112.98 Potential value $146.28	-29.6%	Sell	7.2
TRGP Targa Resources Corp. · Cyclical	$270.31 —	$177.99 Potential value $237.82	-34.1%	Sell	7
TPL Texas Pacific Land Corporation · Cyclical	$344.84 —	$204.19 Potential value $234.72	-40.8%	Sell	9
WMB The Williams Companies Inc. · Cyclical	$69.26 —	$38.34 Potential value $41.89	-44.6%	Sell	7.5

October 2026 · sector commentary

Energy — October 2026

As of 2026-10-28 · Published 2026-10-28T07:00:08+00:00

As of 2026-10-28, the sector snapshot covered 252 constituents. Median returns were unavailable over one month and unavailable over three months. The recorded valuation median was 7.68 across 208 observations. The market-wide sector-rotation score was unavailable. Missing values are left unavailable rather than estimated.

Info

Compare energy against every other sector in the sector-rotation matrix — relative-strength rank, forward P/E, and revisions delta in one frame, as of the latest published outlook.

Top by upside

LNG

+64.2%

Cheniere Energy, Inc.

Strong Buy· 2026-10-03