Energy sector

Energy's largest names posted strong year-over-year revenue growth, led by Chevron at 53.5%, followed by Exxon Mobil at 44.1% and ConocoPhillips at 35.5%, while oilfield services firm SLB grew just 5.0%. Margins vary widely across the group, from SLB's 12.7% to ConocoPhillips' 31.5%, with Exxon at 15.9% and Chevron at 21.9%. Valuations are broadly similar, with ConocoPhillips the cheapest at a 17.76 P/E and SLB the richest at 23.65, versus 21.74 for Exxon and 20.4 for Chevron. Headlines skew modestly positive, with Chevron nearing billion-dollar Venezuela oil deals alongside Halliburton, Iraq discussing projects with TotalEnergies and ConocoPhillips, and SLB winning a digital drilling contract from TotalEnergies, though one commentator described the oil market as being in dire straits.