Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Oil and Gas Exploration and Production Industry Analysis

UpdatedMay 15, 2026
DataAggregated Company Financials
Companies218
  • 7D3.1%
  • 3M9.3%
  • 1Y20.4%
  • YTDn/a

In the last week, the Oil and Gas Exploration and Production industry is up 3.1%, with ConocoPhillips up 3.6%. This means that the industry has gained 20% over the past year. As for the next few years, earnings are expected to grow by 13% per annum.

Industry Valuation and Performance

Has the U.S. Oil and Gas Exploration and Production Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 15 May 2026US$618.3bUS$230.2bUS$29.8b13.6x20.8x2.7x
Sun, 12 Apr 2026US$629.2bUS$230.4bUS$33.8b15x18.6x2.7x
Tue, 10 Mar 2026US$618.3bUS$230.2bUS$33.8b14.9x18.3x2.7x
Thu, 05 Feb 2026US$535.5bUS$228.0bUS$34.9b13.8x15.3x2.3x
Sat, 03 Jan 2026US$491.3bUS$232.2bUS$35.2b12.6x13.9x2.1x
Mon, 01 Dec 2025US$502.9bUS$234.8bUS$33.8b12.9x14.9x2.1x
Wed, 29 Oct 2025US$482.7bUS$225.5bUS$35.0b11.3x13.8x2.1x
Fri, 26 Sep 2025US$521.1bUS$224.9bUS$34.5b11.6x15.1x2.3x
Sun, 24 Aug 2025US$508.0bUS$224.9bUS$34.5b11x14.7x2.3x
Tue, 22 Jul 2025US$525.1bUS$218.3bUS$33.0b9.8x15.9x2.4x
Thu, 19 Jun 2025US$602.5bUS$230.6bUS$35.2b12.1x17.1x2.6x
Sat, 17 May 2025US$559.9bUS$230.6bUS$35.2b10.4x15.9x2.4x
Mon, 14 Apr 2025US$504.0bUS$217.0bUS$35.5b11x14.2x2.3x
Wed, 12 Mar 2025US$553.1bUS$217.0bUS$35.5b11.9x15.6x2.5x
Fri, 07 Feb 2025US$624.7bUS$213.5bUS$42.1b10.3x14.8x2.9x
Sun, 05 Jan 2025US$566.3bUS$208.0bUS$42.7b10.3x13.3x2.7x
Tue, 03 Dec 2024US$601.1bUS$208.0bUS$42.7b10.4x14.1x2.9x
Thu, 31 Oct 2024US$546.3bUS$212.8bUS$45.4b10.3x12x2.6x
Sat, 28 Sep 2024US$529.4bUS$221.7bUS$43.0b10.1x12.3x2.4x
Mon, 26 Aug 2024US$537.2bUS$221.1bUS$43.0b10.5x12.5x2.4x
Wed, 24 Jul 2024US$562.9bUS$214.9bUS$43.8b11x12.9x2.6x
Fri, 21 Jun 2024US$539.0bUS$214.8bUS$43.7b10.8x12.3x2.5x
Sun, 19 May 2024US$578.2bUS$214.7bUS$43.7b11.1x13.2x2.7x
Tue, 16 Apr 2024US$661.8bUS$235.9bUS$59.9b10x11.1x2.8x
Thu, 14 Mar 2024US$597.5bUS$238.4bUS$60.6b8.4x9.9x2.5x
Sat, 10 Feb 2024US$539.5bUS$236.0bUS$68.3b7.3x7.9x2.3x
Mon, 08 Jan 2024US$618.9bUS$260.7bUS$76.4b7.3x8.1x2.4x
Wed, 06 Dec 2023US$616.4bUS$260.8bUS$76.7b7.4x8x2.4x
Fri, 03 Nov 2023US$639.9bUS$273.9bUS$83.1b6.5x7.7x2.3x
Sun, 01 Oct 2023US$648.1bUS$286.0bUS$89.7b5.8x7.2x2.3x
Tue, 29 Aug 2023US$643.7bUS$285.5bUS$89.6b5.8x7.2x2.3x
Thu, 27 Jul 2023US$631.6bUS$321.4bUS$104.6b5x6x2x
Sat, 24 Jun 2023US$555.9bUS$327.2bUS$106.8b4.6x5.2x1.7x
Mon, 22 May 2023US$571.5bUS$327.2bUS$106.8b4.7x5.4x1.7x
Price to Earnings Ratio

5.4x


Total Market Cap: US$571.5bTotal Earnings: US$106.8bTotal Revenue: US$327.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 12.4x202420252026
Current Industry PE
  • Investors are optimistic on the American Oil and Gas Exploration and Production industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 20.8x which is higher than its 3-year average PE of 12.4x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Exploration and Production industry have declined 35% per year over the last three years,
  • Revenues have also declined 11% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

How does U.S. Oil and Gas Exploration and Production compare with similar industries?

US Market1.15%
Energy3.37%
Oil and Gas3.21%
Oil and Gas Exploration and Production3.12%
Integrated Oil and Gas3.59%
Oil and Gas Storage and Transportation3.33%
Oil and Gas Refining and Marketing2.26%
Coal and Fuels-3.95%
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
COP ConocoPhillipsUS$118.973.6%
+US$5.0b		28.0%PE19.9x
VG Venture GlobalUS$13.0111.3%
+US$3.3b		32.2%PE13.7x
FANG Diamondback EnergyUS$200.265.2%
+US$2.8b		41.1%PE201.9x
EOG EOG ResourcesUS$135.993.9%
+US$2.7b		17.4%PE13.2x
DVN Devon EnergyUS$47.244.3%
+US$2.2b		41.4%PE24x

Latest News

NOG
US$23.36
Northern Oil and Gas
7D
-2.4%
1Y
-18.7%
CRC
US$59.84
California Resources
7D
-2.1%
1Y
38.6%
EOG
US$135.99
EOG Resources
7D
3.9%
1Y
17.4%
APA
US$37.11
APA
7D
2.4%
1Y
109.0%
REI
US$1.33
Ring Energy
7D
-19.4%
1Y
59.0%
OVV
US$58.30
Ovintiv
7D
-0.02%
1Y
54.9%
GRNT
US$5.32
Granite Ridge Resources
7D
-5.0%
1Y
-4.5%
FANG
US$200.26
Diamondback Energy
7D
5.2%
1Y
41.1%
VG
US$13.01
Venture Global
7D
11.3%
1Y
32.2%
DVN
US$47.24
Devon Energy
7D
4.3%
1Y
41.4%
Seeking Alpha • May 14

Devon Energy: Optimization Success, Upstream Unpredictable

Summary Devon Energy remains a hold as operational execution is strong, but valuation is less attractive than it appears. DVN's strategic focus on maximizing free cash flow over production growth has delivered $1 billion in annual improvements ahead of schedule. Margins are under pressure from rising production costs and falling EBITDA, with net income margin down to 14.2% from 17.5%. DVN's earnings and valuation remain highly sensitive to oil prices, making long-term upside dependent on commodity trends. Read the full article on Seeking Alpha
COP
US$118.97
ConocoPhillips
7D
3.6%
1Y
28.0%
Seeking Alpha • May 14

ConocoPhillips: More Upside Given Long-Term Cash Flow Tailwinds

Summary ConocoPhillips remains a "Buy," with ~15% upside to a $135 fair value, driven by sustained high oil prices post-Strait of Hormuz closure. COP's oil-weighted production and disciplined capex position it to benefit from the ongoing supply shock, despite headwinds from weak natural gas prices. Q2 and 2026 free cash flow are set to surge, with at least $12.5 billion expected this year and major projects like Willow and Port Arthur LNG driving medium-term growth. Balance sheet strength (0.8x leverage), a secure 2.9% yield, and a 45% cash return policy underpin COP's capital return and buyback acceleration. Read the full article on Seeking Alpha
BKV
US$28.59
BKV
7D
-1.2%
1Y
26.8%
MTDR
US$57.94
Matador Resources
7D
4.3%
1Y
29.9%
Narrative Update • May 10

MTDR: Higher 2026 Oil Decks Are Expected To Drive Future Upside

Analysts have nudged their Matador Resources fair value estimate down by about $1 to $93.48, citing updated views on revenue growth, profitability, discount rates, and forward P/E levels following a series of higher Street price targets in recent research. Analyst Commentary Recent Street research on Matador Resources shows a cluster of higher price targets and generally constructive views, even as some analysts fine tune their fair value work.
TPL
US$388.50
Texas Pacific Land
7D
-2.7%
1Y
-17.8%
Narrative Update • May 10

TPL: Higher Dividend Payout Will Support Attractive Future Share Returns

Analysts have maintained their $445.50 price target on Texas Pacific Land, citing updated assumptions that include stable fair value, a higher discount rate, adjusted revenue growth and profit margin estimates, and a lower future P/E expectation. What's in the News On February 10, 2026, Texas Pacific Land's Board of Directors declared a quarterly cash dividend of $0.60 per share, payable on March 16, 2026 to stockholders of record as of March 2, 2026 (company announcement).
SM
US$31.37
SM Energy
7D
7.8%
1Y
27.7%
EXE
US$96.70
Expand Energy
7D
-0.7%
1Y
-15.2%