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Norwegian (OSEAX) Oil and Gas Services Industry Analysis

UpdatedJun 23, 2026
DataAggregated Company Financials
Companies22
  • 7D-3.4%
  • 3M7.2%
  • 1Y44.1%
  • YTDn/a

Over the last 7 days, the Oil and Gas Services industry has dropped 3.4%, driven by a pullback from Subsea 7 of 2.7%. Over the past 12 months, the industry was up 44%. Earnings are forecast to grow by 7.9% annually.

Industry Valuation and Performance

Has the Norwegian Oil and Gas Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Jun 2026NOK 225.9bNOK 195.3bNOK 20.5b6.5x11x1.2x
Fri, 22 May 2026NOK 233.5bNOK 187.9bNOK 19.5b7.5x12x1.2x
Sun, 19 Apr 2026NOK 213.1bNOK 190.0bNOK 18.7b7.4x11.4x1.1x
Tue, 17 Mar 2026NOK 200.7bNOK 195.3bNOK 19.4b7.4x10.3x1x
Thu, 12 Feb 2026NOK 189.2bNOK 188.5bNOK 17.7b7.2x10.7x1x
Sat, 10 Jan 2026NOK 164.9bNOK 195.3bNOK 18.7b6.2x8.8x0.8x
Mon, 08 Dec 2025NOK 155.8bNOK 194.2bNOK 17.5b6.1x8.9x0.8x
Wed, 05 Nov 2025NOK 147.2bNOK 194.9bNOK 17.0b6.8x8.7x0.8x
Fri, 03 Oct 2025NOK 157.2bNOK 188.8bNOK 16.1b6.6x9.8x0.8x
Sun, 31 Aug 2025NOK 161.4bNOK 189.4bNOK 16.5b6.8x9.8x0.9x
Tue, 29 Jul 2025NOK 145.4bNOK 184.3bNOK 12.7b9.2x11.5x0.8x
Thu, 26 Jun 2025NOK 139.0bNOK 179.4bNOK 13.9b7x10x0.8x
Sat, 24 May 2025NOK 124.5bNOK 180.0bNOK 13.8b8.5x9x0.7x
Mon, 21 Apr 2025NOK 113.1bNOK 175.8bNOK 14.0b8.4x8.1x0.6x
Wed, 19 Mar 2025NOK 129.8bNOK 176.5bNOK 14.0b9x9.2x0.7x
Fri, 14 Feb 2025NOK 132.4bNOK 178.1bNOK 15.1b6.3x8.7x0.7x
Sun, 12 Jan 2025NOK 141.1bNOK 169.9bNOK 13.8b6.6x10.2x0.8x
Tue, 10 Dec 2024NOK 129.7bNOK 166.0bNOK 13.4b7.5x9.7x0.8x
Thu, 07 Nov 2024NOK 135.9bNOK 165.0bNOK 12.5b9.1x10.9x0.8x
Sat, 05 Oct 2024NOK 137.9bNOK 160.4bNOK 11.9b8.5x11.6x0.9x
Mon, 02 Sep 2024NOK 146.0bNOK 160.1bNOK 11.6b14.4x12.6x0.9x
Wed, 31 Jul 2024NOK 161.7bNOK 162.7bNOK 12.2b12.4x13.3x1x
Fri, 28 Jun 2024NOK 153.2bNOK 163.1bNOK 10.7b13.8x14.3x0.9x
Sun, 26 May 2024NOK 148.2bNOK 162.0bNOK 10.6b15.6x14x0.9x
Tue, 23 Apr 2024NOK 140.6bNOK 158.9bNOK 8.8b9.9x16x0.9x
Thu, 21 Mar 2024NOK 132.8bNOK 155.1bNOK 8.6b9.1x15.4x0.9x
Sat, 17 Feb 2024NOK 118.2bNOK 151.8bNOK 7.1b15.6x16.7x0.8x
Mon, 15 Jan 2024NOK 125.4bNOK 181.0bNOK 8.7b8.4x14.4x0.7x
Wed, 13 Dec 2023NOK 122.7bNOK 187.0bNOK 8.9b7.9x13.8x0.7x
Fri, 10 Nov 2023NOK 128.5bNOK 178.2bNOK 7.7b9.4x16.7x0.7x
Sun, 08 Oct 2023NOK 122.8bNOK 170.7bNOK 7.1b8.6x17.3x0.7x
Tue, 05 Sep 2023NOK 124.0bNOK 166.2bNOK 6.8b9.3x18.4x0.7x
Thu, 03 Aug 2023NOK 111.8bNOK 151.6bNOK 3.6b11.6x31.3x0.7x
Sat, 01 Jul 2023NOK 110.6bNOK 150.1bNOK 4.4b11.9x25.2x0.7x
Price to Earnings Ratio

25.2x


Total Market Cap: NOK 110.6bTotal Earnings: NOK 4.4bTotal Revenue: NOK 150.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Oil and Gas Services Industry Price to Earnings3Y Average 12.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Norwegian Oil and Gas Equipment and Services industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 11.0x which is lower than its 3-year average PE of 12.9x.
  • The 3-year average PS ratio of 0.84x is lower than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Equipment and Services industry have grown 67% per year over the last three years.
  • Revenues for these companies have grown 9.0% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Norwegian Oil and Gas Services compare with similar industries?

NO Market-0.87%
Energy-2.55%
Energy Services-3.20%
Oil and Gas Services-3.42%
Oil and Gas Drilling-2.23%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
AKSO Aker SolutionsNOK 45.061.8%
+NOK 378.8m		24.8%PE7.5x
SDSD S.D. Standard ETCNOK 1.842.8%
+NOK 26.2m		-0.8%PE6.4x
DWELLOP DwellopNOK 150.0025.0%
+NOK 12.4m		-14.3%PE1.5x
HERMA Hermana HoldingNOK 16.402.5%
+NOK 5.4m		39.6%n/a

Latest News

TGS
NOK 139.50
TGS
7D
-6.8%
1Y
58.7%
Analysis Article • Jun 20

TGS (OB:TGS) Stock Could Be 8.7% Undervalued After Brazil Seismic Survey Launch

TGS (OB:TGS) and SLB have begun the Pelotas Sul Phase 1 multi-client 3D seismic survey offshore southern Brazil, a 13,500 square kilometer project that broadens seismic coverage in this underexplored Pelotas Basin region. See our latest analysis for TGS. TGS has seen a mixed pattern in recent months, with the share price down 9.12% over the past 30 days but up 12.32% over 90 days and showing a 48.40% year to date share price return. The 1 year total shareholder return of 68.85% points to...
AKSO
NOK 45.06
Aker Solutions
7D
1.8%
1Y
24.8%
Narrative Update • Jun 18

AKSO: Contract Wins And Cash Returns Will Support Future Share Upside

Aker Solutions now carries a higher analyst fair value estimate of NOK 65.27 per share, up from NOK 47.00. The change is linked to recent shifts in price targets and mixed rating moves from several covering analysts.
SDSD
NOK 1.84
S.D. Standard ETC
7D
2.8%
1Y
-0.8%
SUBC
NOK 341.40
Subsea 7
7D
-2.7%
1Y
81.2%
Narrative Update • Jun 15

SUBC: Elevated P E Multiples Will Strain Returns Despite New Long Dated Contracts

Analysts have nudged their fair value estimate for Subsea 7 slightly higher to NOK 233.20, supported by a series of recent price target increases on the stock, including one move to NOK 370, partly offset by a few downgrades. Analyst Commentary Recent Street research on Subsea 7 has been mixed.
BWO
NOK 45.40
BW Offshore
7D
-4.1%
1Y
42.5%
NORAM
NOK 39.05
NorAm Drilling
7D
-11.5%
1Y
67.6%
DWELLOP
NOK 150.00
Dwellop
7D
25.0%
1Y
-14.3%
HERMA
NOK 16.40
Hermana Holding
7D
2.5%
1Y
39.6%
DOFG
NOK 118.10
DOF Group
7D
-2.2%
1Y
31.2%
Narrative Update • Jun 06

DOFG: Backlog And New Long Term Charters Will Support Upside Potential

Analysts have nudged their price target for DOF Group higher to around NOK146 per share, from roughly NOK142. This reflects updated assumptions for revenue growth, profit margins and a slightly lower future P/E multiple despite a higher discount rate.
SOFF
NOK 59.30
Solstad Offshore
7D
-8.2%
1Y
47.7%
AKAST
NOK 12.26
Akastor
7D
-6.3%
1Y
-1.0%
Analysis Article • May 21

Akastor's (OB:AKAST) Sluggish Earnings Might Be Just The Beginning Of Its Problems

The subdued market reaction suggests that Akastor ASA's ( OB:AKAST ) recent earnings didn't contain any surprises. Our...
SOMA
NOK 25.70
Solstad Maritime
7D
-3.7%
1Y
11.4%