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U.S. Oil and Gas Industry Analysis

UpdatedAug 07, 2026
DataAggregated Company Financials
Companies348
  • 7D-1.6%
  • 3M5.1%
  • 1Y32.5%
  • YTD26.1%

Over the last 7 days, the Oil and Gas industry has dropped 1.6%, driven by ExxonMobil Holdings declining 1.4%. This takes the industry's 12 month performance to a gain of 32%. As for the next few years, earnings are expected to grow by 5.6% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 07 Aug 2026US$2.6tUS$1.9tUS$155.7b13.2x16.8x1.4x
Sun, 05 Jul 2026US$2.5tUS$1.7tUS$116.0b13x21.1x1.4x
Tue, 02 Jun 2026US$2.5tUS$1.7tUS$116.1b13.1x21.8x1.5x
Thu, 30 Apr 2026US$2.6tUS$1.7tUS$126.2b15x20.9x1.5x
Sat, 28 Mar 2026US$2.8tUS$1.7tUS$122.4b16.8x23.2x1.7x
Mon, 23 Feb 2026US$2.5tUS$1.7tUS$122.4b14.4x20.4x1.5x
Wed, 21 Jan 2026US$2.2tUS$1.7tUS$117.7b13.4x18.9x1.3x
Fri, 19 Dec 2025US$2.1tUS$1.7tUS$117.7b13x17.7x1.2x
Sun, 16 Nov 2025US$2.2tUS$1.7tUS$116.7b14.2x18.4x1.3x
Tue, 14 Oct 2025US$2.0tUS$1.7tUS$115.9b13x17.6x1.2x
Thu, 11 Sep 2025US$2.1tUS$1.7tUS$115.9b13x18x1.2x
Sat, 09 Aug 2025US$2.0tUS$1.7tUS$116.2b13.2x17.6x1.2x
Mon, 07 Jul 2025US$2.1tUS$1.7tUS$122.4b12.5x17.3x1.2x
Wed, 04 Jun 2025US$2.0tUS$1.7tUS$122.2b12x16.4x1.2x
Fri, 02 May 2025US$2.0tUS$1.7tUS$127.3b11.6x15.3x1.1x
Sun, 30 Mar 2025US$2.2tUS$1.7tUS$130.4b12.9x16.9x1.3x
Tue, 25 Feb 2025US$2.2tUS$1.7tUS$136.9b12.5x15.9x1.3x
Thu, 23 Jan 2025US$2.2tUS$1.8tUS$144.9b12x15.5x1.3x
Sat, 21 Dec 2024US$2.0tUS$1.8tUS$144.8b10.9x13.8x1.1x
Mon, 18 Nov 2024US$2.2tUS$1.8tUS$146.3b11.3x15.1x1.3x
Wed, 16 Oct 2024US$2.1tUS$1.8tUS$161.0b10.5x13.2x1.2x
Fri, 13 Sep 2024US$2.0tUS$1.8tUS$157.8b9.9x12.5x1.1x
Sun, 11 Aug 2024US$2.1tUS$1.8tUS$158.0b10.2x13.1x1.1x
Tue, 09 Jul 2024US$2.0tUS$1.8tUS$162.2b10.4x12.6x1.2x
Thu, 06 Jun 2024US$2.0tUS$1.8tUS$161.8b10.8x12.5x1.1x
Sat, 04 May 2024US$2.1tUS$1.8tUS$163.8b10x12.7x1.2x
Mon, 01 Apr 2024US$2.2tUS$1.8tUS$193.2b9.4x11.3x1.2x
Wed, 28 Feb 2024US$2.0tUS$1.8tUS$195.2b8.7x10.2x1.1x
Fri, 26 Jan 2024US$2.0tUS$1.9tUS$227.5b7.8x8.7x1x
Sun, 24 Dec 2023US$2.0tUS$1.9tUS$230.1b7.8x8.9x1.1x
Tue, 21 Nov 2023US$2.0tUS$1.9tUS$230.5b7.8x8.8x1.1x
Thu, 19 Oct 2023US$2.2tUS$2.0tUS$261.6b6.7x8.3x1.1x
Sat, 16 Sep 2023US$2.1tUS$2.0tUS$261.4b6.7x8.2x1.1x
Mon, 14 Aug 2023US$2.1tUS$2.0tUS$261.6b6.8x8.1x1x
Price to Earnings Ratio

8.1x


Total Market Cap: US$2.1tTotal Earnings: US$261.6bTotal Revenue: US$2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Industry Price to Earnings3Y Average 15.1x202420252026
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 16.8x which is higher than its 3-year average PE of 15.1x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 16% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

US Market3.47%
Energy-1.04%
Oil and Gas-1.60%
Coal and Fuels6.06%
Oil and Gas Storage and Transportation0.50%
Integrated Oil and Gas-1.36%
Oil and Gas Exploration and Production-2.99%
Oil and Gas Refining and Marketing-4.57%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 46.8x.
    • Analysts are expecting annual earnings growth of 51.0%, which is higher than its past year's earnings decline of 31.5% per year.
  • Investors are most pessimistic about the Oil and Gas Refining and Marketing industry, which is trading below its 3-year average of 22.5x.
Forecasted Growth
  • Analysts are most optimistic on the Coal and Fuels industry, expecting annual earnings growth of 51% over the next 5 years.
  • This is better than its past earnings decline of 31% per year.
  • In contrast, the Oil and Gas Refining and Marketing industry is expected to see its earnings decline by 15% 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
LNG Cheniere EnergyUS$265.773.0%
+US$1.6b		13.0%PE38.1x
WMB Williams CompaniesUS$71.761.2%
+US$1.1b		24.0%PE28.6x
VG Venture GlobalUS$13.582.6%
+US$844.7m		-0.7%PE14.3x
UEC Uranium EnergyUS$10.7610.5%
+US$504.8m		9.2%PS263.6x
CNR Core Natural ResourcesUS$89.9810.9%
+US$446.1m		18.5%PS1.1x

Latest News

LNG
US$265.77
Cheniere Energy
7D
3.0%
1Y
13.0%
COP
US$116.76
ConocoPhillips
7D
-1.9%
1Y
26.1%
WMB
US$71.76
Williams Companies
7D
1.2%
1Y
24.0%
KNTK
US$50.17
Kinetik Holdings
7D
0.3%
1Y
20.8%
Seeking Alpha • 13h

Kinetik Holdings: Better Q2 Earnings, Still Not Cheap

Summary Kinetik remains a quality midstream story, supported by strong assets, dividends, and the Kings Landing II FID catalyst. Q2 saw adjusted EBITDA rise to $280.8M and dividend coverage improve to 1.47x, but processed gas volumes stayed flat YoY. Kings Landing II FID increases long-term growth optionality, yet introduces capex and execution risks, with cash flow impact expected in 2028. I maintain a buy rating on KNTK, driven by dividend yield, though valuation appears fully priced and Waha-related volume risks persist. Read the full article on Seeking Alpha
OXY
US$56.04
Occidental Petroleum
7D
0.2%
1Y
28.6%
TPL
US$355.64
Texas Pacific Land
7D
-9.8%
1Y
23.0%
CVX
US$189.23
Chevron
7D
-1.6%
1Y
23.6%
FANG
US$189.63
Diamondback Energy
7D
-5.1%
1Y
34.4%
CNR
US$89.98
Core Natural Resources
7D
10.9%
1Y
18.5%
Seeking Alpha • Aug 06

Core Natural Resources: A Stellar Q2 And The Stock Remains Cheap

Summary Core Natural Resources is rated a buy, reflecting attractive valuation and robust shareholder returns amid diversified coal operations. CNR reported Q2 2026 adjusted EBITDA of $324M, up substantially even if the quarter included insurance claims. EBITDA is projected at $1.0–1.1B over the coming years, implying an EV/EBITDA of ~4, which I view as highly compelling. Shareholder distributions remain aggressive, with 75% of free cash flow returned via dividends and buybacks and an 8% share count reduction post-merger. Read the full article on Seeking Alpha
MPC
US$299.25
Marathon Petroleum
7D
-4.7%
1Y
85.3%
Narrative Update • Aug 06

MPC: Refining Margin Strength And Q2 Execution Will Drive Future Upside

Marathon Petroleum's analyst fair value estimate has moved from about $318.81 to $376.00 as analysts respond to stronger Q2 margin capture, a supportive refining environment, and updated assumptions on refining cracks and future P/E multiples. Analyst Commentary Recent Street research on Marathon Petroleum points to generally constructive sentiment, with many bullish analysts lifting price targets in response to Q2 execution, margin capture and refining fundamentals.
EOG
US$136.20
EOG Resources
7D
-6.4%
1Y
17.4%
XOM
US$154.84
ExxonMobil Holdings
7D
-1.4%
1Y
46.1%
GLNG
US$51.02
Golar LNG
7D
5.8%
1Y
23.4%
UEC
US$10.76
Uranium Energy
7D
10.5%
1Y
9.2%
VLO
US$302.99
Valero Energy
7D
-2.8%
1Y
128.5%
VG
US$13.58
Venture Global
7D
2.6%
1Y
-0.7%
Narrative Update • Jul 24

VG: Future LNG Contracts And Refinancing Plans Will Shape Balanced Outlook

Analysts have raised their price target on Venture Global from $12.26 to $16.32, citing updated assumptions that combine a lower discount rate, more moderate revenue growth, a higher profit margin outlook, and a reduced future P/E multiple. What’s in the News for Venture Global Venture Global LNG completed a US$2.26b offering of long dated senior secured notes due in 2034 and 2036 with coupons between 6.375% and 6.625%, using the proceeds to redeem higher cost 8.125% notes due 2028, while also adding leverage and interest costs (source: Venture Global Raises US$2.26b in Senior Secured Notes, Expands LNG Supply Contracts).