Shares of MRC Global (NYSE: MRC) spiked today after the supplier to the oil and gas industry reported fourth-quarter earnings last night. And there might be more to come. Shares jumped nearly 15% this morning and were still higher by 12.3% as of 1:10 p.m. ET.

There were several things to like about the quarterly report, and MRC Global stock still looks inexpensive for those who want exposure to the U.S. oil and gas energy sector.

MRC supplies the oil and gas industry with essential equipment, including pipes, valves, fittings, and other infrastructure products. When oil prices are high, companies ramp up drilling, and demand for MRC's equipment spikes.

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Source Fool.com