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U.S. Oil and Gas Refining and Marketing Industry Analysis

UpdatedJun 26, 2026
DataAggregated Company Financials
Companies45
  • 7D5.0%
  • 3M-3.0%
  • 1Y56.2%
  • YTDn/a

Over the last 7 days, the Oil and Gas Refining and Marketing industry has risen 5.0%, driven by gains from Valero Energy of 7.9%. Meanwhile, Comstock actually underperformed within the industry, shrinking 17% in the last week. In the last 12 months, the industry was up 56%. Looking forward, earnings are forecast to grow by 2.3% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 26 Jun 2026US$252.0bUS$563.8bUS$14.8b15.4x17.1x0.4x
Sun, 24 May 2026US$262.8bUS$563.8bUS$14.7b16.1x17.8x0.5x
Tue, 21 Apr 2026US$233.5bUS$554.6bUS$10.9b17.4x21.5x0.4x
Thu, 19 Mar 2026US$250.7bUS$554.6bUS$10.8b18x23.1x0.5x
Sat, 14 Feb 2026US$222.2bUS$533.9bUS$10.4b18.3x21.3x0.4x
Mon, 12 Jan 2026US$204.9bUS$527.9bUS$5.1b22.7x40.5x0.4x
Wed, 10 Dec 2025US$205.9bUS$528.4bUS$5.1b20.7x40.1x0.4x
Fri, 07 Nov 2025US$195.1bUS$517.8bUS$5.7b20.3x34.3x0.4x
Sun, 05 Oct 2025US$193.8bUS$521.7bUS$2.6b24.8x73.3x0.4x
Tue, 02 Sep 2025US$186.1bUS$521.2bUS$2.6b25.6x71.4x0.4x
Thu, 31 Jul 2025US$180.9bUS$542.1bUS$3.0b25.5x60.6x0.3x
Sat, 28 Jun 2025US$171.5bUS$552.1bUS$3.3b21.1x51.7x0.3x
Mon, 26 May 2025US$161.3bUS$552.1bUS$3.3b20.1x48.5x0.3x
Wed, 23 Apr 2025US$135.6bUS$565.5bUS$7.9b12.3x17.2x0.2x
Fri, 21 Mar 2025US$167.1bUS$565.6bUS$7.9b13.8x21.1x0.3x
Sun, 16 Feb 2025US$172.1bUS$577.5bUS$8.9b11.6x19.4x0.3x
Tue, 14 Jan 2025US$160.0bUS$592.5bUS$12.1b11.7x13.3x0.3x
Thu, 12 Dec 2024US$170.5bUS$592.7bUS$12.1b11.1x14.1x0.3x
Sat, 09 Nov 2024US$173.5bUS$592.7bUS$12.1b11.9x14.3x0.3x
Mon, 07 Oct 2024US$192.5bUS$617.7bUS$21.9b7.7x8.8x0.3x
Wed, 04 Sep 2024US$196.9bUS$617.7bUS$21.9b7.7x9x0.3x
Fri, 02 Aug 2024US$206.7bUS$617.1bUS$23.6b6.8x8.7x0.3x
Sun, 30 Jun 2024US$204.6bUS$614.6bUS$25.4b6.9x8x0.3x
Tue, 28 May 2024US$210.0bUS$614.6bUS$24.0b7x8.7x0.3x
Thu, 25 Apr 2024US$232.0bUS$624.2bUS$29.6b6.5x7.8x0.4x
Sat, 23 Mar 2024US$235.9bUS$623.9bUS$29.5b7.4x8x0.4x
Mon, 19 Feb 2024US$209.9bUS$633.7bUS$30.3b6x6.9x0.3x
Wed, 17 Jan 2024US$204.8bUS$646.6bUS$35.5b5.1x5.8x0.3x
Fri, 15 Dec 2023US$196.5bUS$646.6bUS$35.5b5x5.5x0.3x
Sun, 12 Nov 2023US$184.3bUS$646.2bUS$35.4b4.9x5.2x0.3x
Tue, 10 Oct 2023US$193.3bUS$670.3bUS$40.0b4.7x4.8x0.3x
Thu, 07 Sep 2023US$201.0bUS$670.3bUS$40.0b4.7x5x0.3x
Sat, 05 Aug 2023US$191.1bUS$673.5bUS$40.5b5.2x4.7x0.3x
Mon, 03 Jul 2023US$174.3bUS$739.2bUS$49.4b4.8x3.5x0.2x
Price to Earnings Ratio

3.5x


Total Market Cap: US$174.3bTotal Earnings: US$49.4bTotal Revenue: US$739.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Refining and Marketing Industry Price to Earnings3Y Average 22x202420252026
Current Industry PE
  • Investors are pessimistic on the American Oil and Gas Refining and Marketing 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 17.1x which is lower than its 3-year average PE of 22.0x.
  • The industry is trading close to its 3-year average PS ratio of 0.33x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Refining and Marketing industry have declined 33% per year over the last three years,
  • Revenues have also declined 8.6% 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 Refining and Marketing compare with similar industries?

US Market-2.68%
Energy0.96%
Oil and Gas1.15%
Oil and Gas Refining and Marketing5.03%
Oil and Gas Storage and Transportation2.79%
Oil and Gas Exploration and Production0.71%
Integrated Oil and Gas-0.46%
Coal and Fuels-5.85%
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
VLO Valero EnergyUS$255.067.9%
+US$5.6b		86.2%PE18x
MPC Marathon PetroleumUS$253.564.4%
+US$3.1b		51.4%PE16x
PSX Phillips 66US$171.763.4%
+US$2.3b		42.9%PE16.7x
PBF PBF EnergyUS$42.2913.4%
+US$591.5m		94.1%PE11.3x
DINO HF SinclairUS$67.785.1%
+US$591.3m		63.0%PE10x

Latest News

CVI
US$27.31
CVR Energy
7D
-0.3%
1Y
3.6%
MPC
US$253.56
Marathon Petroleum
7D
4.4%
1Y
51.4%
Narrative Update • Jun 24

MPC: Refining Margins And Buybacks Will Shape Returns As Cracks Evolve

Marathon Petroleum's analyst price target has been revised upward from $265.06 to $271.59 as analysts factor in updated oil and refining crack assumptions and highlight ongoing support from tight product inventories and steady demand. Analyst Commentary Recent research on Marathon Petroleum points to an active debate around how sustainable current refining economics may be and what that could mean for valuation and execution over the next few years.
LODE
US$3.98
Comstock
7D
-16.6%
1Y
3.4%
PSX
US$171.76
Phillips 66
7D
3.4%
1Y
42.9%
Narrative Update • Jun 24

PSX: Elevated Refining Margins Will Support Future Cash Flows

For Phillips 66, the analyst price target has been raised by about $3 to $194, as analysts point to elevated refining margins, tighter product inventories and improving refining operations as support for a higher fair value and slightly richer future P/E assumptions. Analyst Commentary Recent research on Phillips 66 centers on how refining margins, product inventories and execution on refining and midstream plans feed into valuation, earnings expectations and updated price targets.
CLNE
US$1.79
Clean Energy Fuels
7D
-3.8%
1Y
-5.3%
Narrative Update • Jun 24

CLNE: Supportive EPA Mandates Will Drive Future Upside For RNG Expansion

Analysts have lifted their fair value estimate for Clean Energy Fuels from $6.00 to $10.00, citing updated assumptions around revenue growth, margins, and future P/E multiples following recent regulatory developments highlighted in Street research on EPA renewable fuel volume mandates. What's in the News for Clean Energy Fuels Clean Energy Fuels signed its first LNG supply infrastructure deals in Puerto Rico, winning two contracts to design and install LNG fueling systems for gas to power projects supporting a pharmaceutical manufacturer and P.R. Energy Partners, together supplying 10 megawatts of installed power.
GEVO
US$1.40
Gevo
7D
-9.1%
1Y
6.1%
Narrative Update • Jun 24

GEVO: North Dakota Carbon Capture Buildout Will Drive Future Earnings Multiple

Gevo's latest narrative update reflects a modest reduction in the Street's price target to $2.00 from $2.25, as analysts factor in revised expectations for revenue growth, profit margins, and future P/E assumptions, while maintaining a generally balanced view on the stock's risk and opportunity profile. Analyst Commentary Recent research on Gevo reflects a cautious tone, with several bearish analysts trimming price targets and calling out execution and growth risks that they believe justify more conservative assumptions for the stock.
DINO
US$67.78
HF Sinclair
7D
5.1%
1Y
63.0%
PBF
US$42.29
PBF Energy
7D
13.4%
1Y
94.1%
Narrative Update • Jun 23

PBF: Elevated Crack Spreads And Margin Assumptions Will Pressure Future Shareholder Returns

Analysts have increased their consolidated price targets on PBF Energy by single to low double digit dollar amounts, reflecting updated views on refining margins, crack spreads and inventory tightness, while still acknowledging mixed ratings on the stock. Analyst Commentary Recent research on PBF Energy shows a mix of higher price targets and cautious ratings, with several bearish analysts emphasizing risks around refining margins, crack spreads and the durability of current commodity assumptions.
DK
US$47.17
Delek US Holdings
7D
13.7%
1Y
123.6%
Narrative Update • Jun 23

DK: Operational Improvements And Cost Controls Will Support A More Constructive Outlook

Analysts have raised their price target on Delek US Holdings to $52.58 from $49.38, citing updated assumptions around revenue growth, profit margins, the discount rate, and the future P/E multiple used in their valuation work. What’s in the News for Delek US Holdings Director Vicky Sutil sold 1,871 Delek US Holdings shares on June 3, 2026, for about US$223,966.
PARR
US$54.13
Par Pacific Holdings
7D
6.4%
1Y
103.9%
Analysis Article • Jun 19

Par Pacific Holdings (PARR) Stock Could Be 32.1% Below Fair Value After Recent Pullback

Par Pacific Holdings (PARR) has drawn investor attention after recent share price moves, with the stock closing at $50.89. The mixed return pattern across the past week, month, and past 3 months is prompting closer scrutiny. See our latest analysis for Par Pacific Holdings. Over the past year, Par Pacific Holdings has combined a strong 1-year total shareholder return of 85.8% with a 42.07% year to date share price gain. However, shorter term share price momentum has faded, with the 30 day...
CLMT
US$34.27
Calumet
7D
5.0%
1Y
119.5%
Narrative Update • Jun 18

CLMT: High Debt Risks Will Shape Future Stock Performance

Analysts have maintained their $60.00 price target on Calumet, incorporating updated assumptions that include a revenue growth rate of 18.01%, a profit margin of 1.92%, and a higher future P/E of about 49.71x to support the revised view. What’s in the News for Calumet Recent commentary highlights that Calumet stock has climbed to a new 52-week high, following a share price move of 85.6% over the past six months, according to a feature titled "3 Reasons CLMT is Risky and 1 Stock to Buy Instead".
AMTX
US$1.61
Aemetis
7D
-17.9%
1Y
-32.9%
VLO
US$255.06
Valero Energy
7D
7.9%
1Y
86.2%
REX
US$43.41
REX American Resources
7D
-1.0%
1Y
76.0%
VGAS
US$1.50
Verde Clean Fuels
7D
-1.3%
1Y
-58.0%
FF
US$4.11
FutureFuel
7D
-3.1%
1Y
5.4%