Energy sector

Energy majors are showing strong revenue momentum, with year-over-year growth ranging from 35.5% at ConocoPhillips to 53.5% at Chevron, while service firm Schlumberger trails at 5%. Margins vary widely across the group, from 12.7% at Schlumberger to 31.5% at ConocoPhillips, and valuations cluster between a 17.0 P/E for ConocoPhillips and 24.15 for Schlumberger. Headlines skew somewhat bullish, with Chevron and Halliburton nearing billion-dollar Venezuela oil deals, Schlumberger preparing to restart 15 rigs there, and ExxonMobil committing $1.1 billion ahead of final approval on its $30 billion Mozambique LNG project. A bearish counterpoint flags the broader oil market as being in dire straits.