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U.S. Oil and Gas Industry Analysis

UpdatedJun 13, 2026
DataAggregated Company Financials
Companies349
  • 7D-0.4%
  • 3M-2.1%
  • 1Y23.2%
  • YTD22.4%

The Oil and Gas is pretty flat in the last 7 days, but Targa Resources has stood out, gaining 3.2%. As for the the longer term, the industry is up 23% over the past 12 months. Earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 13 Jun 2026US$2.6tUS$1.7tUS$116.0b13.8x22.1x1.5x
Mon, 11 May 2026US$2.5tUS$1.7tUS$116.0b14.2x21.9x1.5x
Wed, 08 Apr 2026US$2.8tUS$1.7tUS$122.4b15.7x22.5x1.6x
Fri, 06 Mar 2026US$2.6tUS$1.7tUS$122.3b15.4x21.1x1.5x
Sun, 01 Feb 2026US$2.4tUS$2.3tUS$153.9b13.7x15.3x1x
Tue, 30 Dec 2025US$2.1tUS$1.7tUS$117.8b13x17.8x1.2x
Thu, 27 Nov 2025US$2.1tUS$1.7tUS$116.2b13.3x17.9x1.2x
Sat, 25 Oct 2025US$2.1tUS$1.7tUS$117.2b12.8x18x1.2x
Mon, 22 Sep 2025US$2.1tUS$1.7tUS$115.9b13.2x18.2x1.2x
Wed, 20 Aug 2025US$2.0tUS$1.7tUS$116.2b12.8x17.5x1.2x
Fri, 18 Jul 2025US$2.1tUS$1.7tUS$122.6b12.3x17.1x1.2x
Sun, 15 Jun 2025US$2.1tUS$1.7tUS$122.2b12.9x17.5x1.2x
Tue, 13 May 2025US$2.0tUS$1.7tUS$123.0b11.9x16.2x1.1x
Thu, 10 Apr 2025US$1.8tUS$1.7tUS$130.3b11.6x14.1x1.1x
Sat, 08 Mar 2025US$2.0tUS$1.7tUS$130.7b12.3x15.6x1.2x
Mon, 03 Feb 2025US$2.2tUS$1.8tUS$143.8b12.2x15x1.2x
Wed, 01 Jan 2025US$2.0tUS$1.8tUS$144.8b11x14.1x1.2x
Fri, 29 Nov 2024US$2.2tUS$1.8tUS$145.0b11.5x15.5x1.3x
Sun, 27 Oct 2024US$2.1tUS$1.8tUS$158.7b10.5x13.4x1.2x
Tue, 24 Sep 2024US$2.1tUS$1.8tUS$157.8b10x13.2x1.2x
Thu, 22 Aug 2024US$2.1tUS$1.8tUS$157.8b10.2x13x1.1x
Sat, 20 Jul 2024US$2.1tUS$1.8tUS$162.1b11.3x13x1.2x
Mon, 17 Jun 2024US$2.0tUS$1.8tUS$162.2b10.4x12.2x1.1x
Wed, 15 May 2024US$2.1tUS$1.8tUS$161.2b10.6x13x1.2x
Fri, 12 Apr 2024US$2.2tUS$1.8tUS$192.6b10.1x11.6x1.2x
Sun, 10 Mar 2024US$2.0tUS$1.8tUS$193.6b8.6x10.5x1.1x
Tue, 06 Feb 2024US$1.9tUS$1.8tUS$206.1b7.7x9.3x1x
Thu, 04 Jan 2024US$2.1tUS$1.9tUS$230.1b7.9x9x1.1x
Sat, 02 Dec 2023US$2.0tUS$1.9tUS$230.4b7.8x8.8x1.1x
Mon, 30 Oct 2023US$2.0tUS$1.9tUS$240.0b6.6x8.4x1.1x
Wed, 27 Sep 2023US$2.1tUS$2.0tUS$261.4b6.5x8.2x1.1x
Fri, 25 Aug 2023US$2.0tUS$2.0tUS$261.2b6.5x7.8x1x
Sun, 23 Jul 2023US$2.0tUS$2.2tUS$307.2b5.9x6.5x0.9x
Tue, 20 Jun 2023US$1.9tUS$2.2tUS$307.3b5.4x6.3x0.9x
Price to Earnings Ratio

6.3x


Total Market Cap: US$1.9tTotal Earnings: US$307.3bTotal Revenue: US$2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Industry Price to Earnings3Y Average 14.3x202420252026
Current Industry PE
  • Investors are optimistic on the American Oil and Gas industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 22.1x which is higher than its 3-year average PE of 14.3x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 28% per year over the last three years,
  • Revenues have also declined 7.9% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the U.S. Energy industry?

US Market0.81%
Energy-0.081%
Oil and Gas-0.45%
Oil and Gas Storage and Transportation0.76%
Oil and Gas Refining and Marketing-0.24%
Oil and Gas Exploration and Production-0.36%
Integrated Oil and Gas-1.21%
Coal and Fuels-4.23%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 32.1x.
    • Analysts are expecting annual earnings growth of 56.2%, which is higher than its past year's earnings decline of 27.4% per year.
  • Investors are most pessimistic about the Oil and Gas Refining and Marketing industry, which is trading below its 3-year average of 21.8x.
Forecasted Growth
  • Analysts are most optimistic on the Coal and Fuels industry, expecting annual earnings growth of 56% over the next 5 years.
  • This is better than its past earnings decline of 27% per year.
  • In contrast, the Oil and Gas Refining and Marketing industry is expected to see its earnings grow by 4.7% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
TRGP Targa ResourcesUS$272.603.2%
+US$1.8b		55.9%PE27.6x
OKE ONEOKUS$90.592.7%
+US$1.5b		8.2%PE16.2x
DVN Devon EnergyUS$45.312.3%
+US$1.2b		29.1%PE23x
FRO FrontlineUS$39.0711.1%
+US$868.2m		97.9%PE9.6x
VLO Valero EnergyUS$258.671.1%
+US$846.3m		92.9%PE18.3x

Latest News

UEC
US$11.03
Uranium Energy
7D
-12.8%
1Y
76.5%
TPL
US$378.91
Texas Pacific Land
7D
-2.8%
1Y
1.5%
Narrative Update • Jun 11

TPL: Future Upside Will Rely On Elevated Oil And Robust Margins

Analysts have kept the price target for Texas Pacific Land broadly in line around $445, citing largely unchanged assumptions for discount rate, profit margin, revenue growth and future P/E as the key drivers behind the steady view. What's in the News Exxon senior vice president flagged the possibility of Brent crude moving to a range of $150 to $160 per barrel in the coming weeks, with Texas Pacific Land, as a pure Permian Basin royalty company, positioned to fully capture any commodity price upside without operating costs tied to drilling or production.
VG
US$13.08
Venture Global
7D
2.2%
1Y
-25.9%
PSX
US$179.45
Phillips 66
7D
-2.0%
1Y
46.9%
FRO
US$39.07
Frontline
7D
11.1%
1Y
97.9%
EQT
US$51.94
EQT
7D
-3.4%
1Y
-8.6%
DVN
US$45.31
Devon Energy
7D
2.3%
1Y
29.1%
Narrative Update • Jun 10

DVN: Higher Oil Deck And Portfolio Review Are Expected To Support Cash Returns

Analysts have made a modest downward adjustment to the blended price target for Devon Energy, reflecting a mix of slightly lower targets, such as UBS cutting its view to $58, alongside multiple upward revisions in the $54 to $68 range that are tied to views on improved capital efficiency, portfolio review progress, and a tighter oil backdrop. Analyst Commentary Bullish analysts have been vocal on Devon Energy, pointing to a mix of capital efficiency, portfolio actions, and commodity exposure as key supports for their views.
EOG
US$136.65
EOG Resources
7D
-0.8%
1Y
9.1%
XOM
US$147.01
Exxon Mobil
7D
-1.9%
1Y
31.1%
KMI
US$31.94
Kinder Morgan
7D
0.8%
1Y
15.6%
LNG
US$241.28
Cheniere Energy
7D
1.0%
1Y
1.2%
Seeking Alpha • Jun 08

Cheniere Energy: Qatar's Crisis, Cheniere's Opportunity

Summary Cheniere Energy, Inc. is well-positioned amid global LNG supply disruptions, with over 90% of capacity contracted under long-term agreements, ensuring predictable cash flows. Q1 results showed robust underlying performance: adjusted EBITDA up 25% to $2.33B, distributable cash flow up to $1.67B, and management raised full-year guidance. Corpus Christi Stage 3 ramp-up and recent supply shocks in Qatar enhance LNG’s strategic value, supporting higher liquefaction fees and future contract momentum. With a 2027 price target of $312.05 (30.6% upside) and ongoing buybacks, I maintain a buy rating on LNG, citing expanding capacity and resilient earnings. Read the full article on Seeking Alpha
EXE
US$88.78
Expand Energy
7D
-3.6%
1Y
-23.8%
OKE
US$90.59
ONEOK
7D
2.7%
1Y
8.2%
VLO
US$258.67
Valero Energy
7D
1.1%
1Y
92.9%
Narrative Update • Jun 05

VLO: Higher Oil Assumptions And Mixed Ratings Will Shape Balanced Future Prospects

Narrative Update on Valero Energy The analyst price target for Valero Energy has been raised by about $3 to roughly $259, as analysts factor in their updated views on refining margins, oil price assumptions, and a lower projected future P/E multiple. Analyst Commentary Recent research on Valero Energy reflects an active debate on how to value the stock as oil price assumptions, refining crack forecasts, and geopolitical risks are updated.
TRGP
US$272.60
Targa Resources
7D
3.2%
1Y
55.9%
Narrative Update • Jun 04

TRGP: Permian Volume Projects And Capex Discipline Will Shape Future Shareholder Returns

Analysts have raised the implied fair value estimate for Targa Resources to $283.90 from $266.80. Higher price targets, tied to updated expectations for revenue growth, profit margins and a modestly higher future P/E, reflect stronger assumptions around marketing, export activity and the current energy backdrop.
OXY
US$56.54
Occidental Petroleum
7D
-0.7%
1Y
21.7%