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Based on key financial metrics such as the price-to-sales ratio, shareholder yield and the price-earnings ratio, the following 4 stocks made the list for top value stocks in the Oil, Gas & Consumable Fuels industry. Those looking for value stocks to add to their portfolio may want to use this list as a starting point for further investment research.

Why Focus on Undervalued Oil, Gas & Consumable Fuels Stocks?

Value investors seek to buy stocks at a discount to their intrinsic value. Long-term returns show that such strategies are advantageous. Value stocks, as a group, tend to outperform growth stocks over extended periods of time. Typically, value investors perform financial analysis of numerous metrics, don’t follow the herd and are long-term investors.

AAII’s A+ Investor Value Grade is derived from a stock’s Value Score. The Value Score is the percentile rank of the average of the percentile ranks of the price-to-sales ratio, price-earnings ratio, enterprise-value-to-EBITDA (EV/EBITDA) ratio, shareholder yield, price-to-book-value ratio and price-to-free-cash-flow ratio. The score is variable, meaning it can consider all six ratios or, should any of the six ratios not be valid, the remaining ratios that are valid. To be assigned a Value Score, stocks must have a valid (non-null) ratio and corresponding ranking for at least two of the six valuation ratios.

What Goes Into AAII’s Value Grade?

Stock evaluation requires access to huge amounts of data as well as the knowledge and time to sift through it all, make sense of financial ratios, read income statements and analyze recent stock movement. AAII created A+ Investor, a robust data suite that condenses data research in an actionable and customizable way suitable for investors of all knowledge levels, to help investors with that task.

AAII’s proprietary stock grades come with A+ Investor. These offer intuitive A–F grades for more than just value. It is possible for a stock to appear cheap based on one valuation metric but appear expensive on another. It is also possible for one valuation ratio to be associated with outperforming stocks during certain periods of time but not others. Some stocks may even have null values for certain metrics like the price-earnings ratio or the price-to-book ratio but not others. An example of this would be a company with losses instead of profits or a negative book value because of heavy borrowing. Negative earnings or book value result in non-meaningful ratios that are left blank or null.

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4 Undervalued Oil, Gas & Consumable Fuels Stocks

Of course, there are countless value stocks that are worth mentioning, but this is a concise list of the top 4 undervalued stocks in the Oil, Gas & Consumable Fuels industry for Wednesday, February 11, 2026. Let’s take a closer look at their individual scores to see how they measure up against each other and the Oil, Gas & Consumable Fuels industry median.

Company	Ticker	Price/Sales	Price/Earnings	EV/EBITDA	Shareholder Yield	Price/Book Value	Price/Free Cash Flow	Value Grade
Northern Oil and Gas, Inc.	NOG	1.23	14.1	2.9	9.4%	1.11	na	A
Plains All American Pipeline, L.P.	PAA	0.29	18.8	8.0	8.3%	1.78	16.2	A
Suncor Energy Inc.	SU	1.39	17.8	5.4	11.8%	2.03	12.9	A
TotalEnergies SE	TTE	0.93	12.1	4.8	10.2%	1.40	27.1	A

The Value Grade is assigned based on how each stock’s composite valuation compares to all other stocks.

The process for assigning grades starts with each variable for a given stock. The percentile rankings for all valid ratios that a stock has are calculated. So, for instance, a stock could have a price-to-book ranking in the 43rd percentile, a price-earnings ranking in the 67th percentile, a price-to-sales ranking in the 23rd percentile, etc. Then, those rankings are averaged for each stock. (A minimum of two valid variables are required, though all six will be used if available.)

Once the average of the individual variables is calculated, that average is ranked against all stocks. Put another way, each stock’s composite valuation is compared to all other stocks. These ranks are then sorted into quintiles from the cheapest 20% (a grade of A) to the most expensive 20% (a grade of F).

As always, we recommend that you conduct proper due diligence and research before investing in any security. We also suggest that investors utilize numerous grades, not just value, when it comes to deciding whether a company is a good fit for their allocation needs.

Northern Oil and Gas, Inc.’s Value Grade

Value Grade:

Metric	Score	NOG	Industry Median
Price/Sales	37	1.23	1.64
Price/Earnings	30	14.1	15.4
EV/EBITDA	5	2.9	7.1
Shareholder Yield	5	9.4%	2.6%
Price/Book Value	27	1.11	1.78
Price/Free Cash Flow	na	na	21.5

Northern Oil and Gas, Inc., an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. The company was founded in 2006 and is headquartered in Minnetonka, Minnesota.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

Northern Oil and Gas, Inc. has a Value Score of 95, which is considered to be undervalued.

When you look at Northern Oil and Gas, Inc.’s price-to-sales ratio at 1.23 compared to the industry median at 1.64, this company has a lower price relative to revenue compared to its peers. This could make Northern Oil and Gas, Inc.’s stock more attractive for value investors.

Northern Oil and Gas, Inc.’s price-earnings ratio is 14.10 compared to the industry median at 15.40. This means it has a lower share price relative to earnings compared to its peers. This could make Northern Oil and Gas, Inc. more attractive for value investors.

Now, let’s assess Northern Oil and Gas, Inc.’s EV/EBITDA ratio, also known as enterprise multiple. At 2.9, when compared to the industry median of 7.1, the company may be considered undervalued in relation to its peers. Value investors could use the enterprise multiple to identify stocks that are considered overvalued or undervalued relative to their industry.

Shareholder yield is the sum of a stock’s dividend yield (paid over previous 12 months minus special dividends) and the percentage of net share buybacks over the previous 12 months. Northern Oil and Gas, Inc.’s shareholder yield is higher than its industry median ratio of 2.60%. Value investors may look for an attractive shareholder yield because it can be a powerful tool for identifying if the company has a good management team.

As one of the most common value metrics, the price-to-book ratio evaluates a company’s current market price relative to its book value. Northern Oil and Gas, Inc.’s price-to-book ratio is lower than its industry median ratio of 1.78. This could make Northern Oil and Gas, Inc. more attractive to investors looking for a new addition to their portfolio.

Plains All American Pipeline, L.P.’s Value Grade

Value Grade:

Metric	Score	PAA	Industry Median
Price/Sales	12	0.29	1.64
Price/Earnings	45	18.8	15.4
EV/EBITDA	24	8.0	7.1
Shareholder Yield	7	8.3%	2.6%
Price/Book Value	46	1.78	1.78
Price/Free Cash Flow	40	16.2	21.5

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, trucks, and on barges or railcars. This segment provides terminaling, storage, and other related services, as well as merchant activities. The NGL segment is involved in natural gas processing and NGL fractionation, storage, transportation, and terminaling. This segment also includes ethane, propane, normal butane, iso-butane, and natural gasoline derived from natural gas production and processing activities, as well as crude oil refining processes. Its NGL components are used for various applications, such as heating, engine, and industrial fuels. The company was founded in 1981 and is headquartered in Houston, Texas. Plains All American Pipeline, L.P. operates as a subsidiary of Plains GP Holdings, L.P.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

Plains All American Pipeline, L.P. has a Value Score of 85, which is considered to be undervalued.

Plains All American Pipeline, L.P.’s price-earnings ratio is 18.8 compared to the industry median at 15.4. This means that it has a higher price relative to its earnings compared to its peers. This makes Plains All American Pipeline, L.P. less attractive for value investors.

Plains All American Pipeline, L.P.’s price-to-book ratio is lower than its peers. This could make Plains All American Pipeline, L.P. fairly attractive for value investors when compared to the industry median at 1.78.

You can read more about Plains All American Pipeline, L.P.’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

Suncor Energy Inc.’s Value Grade

Value Grade:

Metric	Score	SU	Industry Median
Price/Sales	40	1.39	1.64
Price/Earnings	42	17.8	15.4
EV/EBITDA	11	5.4	7.1
Shareholder Yield	3	11.8%	2.6%
Price/Book Value	51	2.03	1.78
Price/Free Cash Flow	32	12.9	21.5

Suncor Energy Inc. operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment produces bitumen; and markets, supplies, and transports and manages crude oil, power, and byproducts. The Exploration and Production segment is involved in the offshore operations on the east coast of Canada, and onshore assets in Libya and Syria; and marketing and risk management of crude oil. The Refining and Marketing segment refines and supplies crude oil and intermediate feedstock into a range of petroleum and petrochemical products, as well as sells refined petroleum products to retail customers. This segment is also involved in the trading of crude oil and refined products, natural gas, and power. The company was formerly known as Suncor Inc. and changed its name to Suncor Energy Inc. in April 1997. Suncor Energy Inc. was founded in 1917 and is headquartered in Calgary, Canada.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

Suncor Energy Inc. has a Value Score of 84, which is considered to be undervalued.

Suncor Energy Inc.’s price-earnings ratio is 17.8 compared to the industry median at 15.4. This means that it has a higher price relative to its earnings compared to its peers. This makes Suncor Energy Inc. less attractive for value investors.

Suncor Energy Inc.’s price-to-book ratio is lower than its peers. This could make Suncor Energy Inc. more attractive for value investors when compared to the industry median at 1.78.

You can read more about Suncor Energy Inc.’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

TotalEnergies SE’s Value Grade

Value Grade:

Metric	Score	TTE	Industry Median
Price/Sales	30	0.93	1.64
Price/Earnings	22	12.1	15.4
EV/EBITDA	9	4.8	7.1
Shareholder Yield	4	10.2%	2.6%
Price/Book Value	37	1.40	1.78
Price/Free Cash Flow	62	27.1	21.5

TotalEnergies SE, a multi-energy company, produces and markets oil and biofuels, natural and green gas, biogas and low-carbon hydrogen, renewables, and electricity in France, rest of Europe, North America, Africa, and internationally. It operates through five segments: Exploration & Production, Integrated LNG, Integrated Power, Refining & Chemicals, and Marketing & Services. The Exploration & Production segment is involved in the exploration and production of oil and natural gas. The Integrated LNG segment comprises the integrated gas chain, including upstream and midstream liquified natural gas (LNG) activities, as well as biogas, hydrogen, and gas trading activities. The Integrated Power segment includes generation, storage, electricity trading, and B2B-B2C distribution of gas and electricity. The Refining & Chemicals segment is involved in refining, petrochemicals, and specialty chemicals, as well as oil supply, trading, and marine shipping activities. The Marketing & Services segment supplies and markets petroleum products. The company was formerly known as TOTAL SE and changed its name to TotalEnergies SE in June 2021. TotalEnergies SE was incorporated in 1924 and is headquartered in Courbevoie, France.

Stocks with a Value Score from 81 to 100 are considered deep value, those with a score between 61 and 80 are value and so on.

TotalEnergies SE has a Value Score of 87, which is considered to be undervalued.

TotalEnergies SE’s price-earnings ratio is 12.1 compared to the industry median at 15.4. This means that it has a lower price relative to its earnings compared to its peers. This makes TotalEnergies SE more attractive for value investors.

TotalEnergies SE’s price-to-book ratio is higher than its peers. This could make TotalEnergies SE less attractive for value investors when compared to the industry median at 1.78.

You can read more about TotalEnergies SE’s key financial metrics like shareholder yield, price-to-free-cash-flow and EV/EBITDA ratio, or learn more about its Momentum and Growth Grades, by subscribing to A+ Investor.

Other Oil, Gas & Consumable Fuels Stock Grades

Value is just one of the five Stock Grades included in our A+ Investor service. AAII members can see the top-graded stocks—those with grades of A or B for value, growth, momentum, earnings estimate revisions and quality—on the A+ Stock Grades Screener.

Also, if you want full access to all of AAII’s premium services, you can subscribe to one convenient bundled plan called AAII Platinum where you can try out A+ Investor, AAII Dividend Investing, the Stock Superstars Report, Growth Investing and VMQ Stocks. With the other premium services, you can dive deep into additional metrics, portfolios, commentary and information about Oil, Gas & Consumable Fuels stocks as well as other industrys.

Choosing Which of the 4 Best Oil, Gas & Consumable Fuels Stocks Is Right for You

Choosing which value stocks to invest in will ultimately depend on your individual goals and allocation; however, comparing similar value stocks in the same industry can help you analyze which might be better investments for you in the long run. So, let’s take a look at the Value Grade for all of our stocks.

Northern Oil and Gas, Inc. stock has a Value Grade of A.
Plains All American Pipeline, L.P. stock has a Value Grade of A.
Suncor Energy Inc. stock has a Value Grade of A.
TotalEnergies SE stock has a Value Grade of A.

Now that you have a bit more background about each of the 4 undervalued stocks in the Oil, Gas & Consumable Fuels industry as well as their overall grades, it’s time for you to conduct additional research to see if these could fit your portfolio needs based on your goals and risk tolerance. AAII can help you figure out both and identify which investments align with what works best for you.

We do so through a program of education that teaches you to invest for yourself and become an effective manager of your own wealth—no more relying on others for your financial independence. You can rely on AAII for timeless articles on financial planning and stock-picking, unbiased research and actionable analysis that makes you a better investor.

A+ Investor adds to that qualitative teaching by giving you a powerful data suite that helps you whittle down investment decisions to find stocks, exchange-traded funds (ETFs) or mutual funds that meet your needs.

Additional Resources About Oil, Gas & Consumable Fuels Stocks

Want to learn more about Oil, Gas & Consumable Fuels stocks to see if they could be the right investment for you? Check out some additional resources and articles to help you on your financial journey.

AAII Disclaimer

We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because past, hypothetical or simulated performance is not necessarily indicative of future results. Before making an investment decision, you should consider your circumstances and whether the information on our content is applicable to your situation. This information was prepared in good faith and we accept no liability for any errors or omissions. The full disclaimer can be read here.