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U.S. Oil and Gas Industry Analysis

UpdatedJun 10, 2026
DataAggregated Company Financials
Companies349
  • 7D-1.1%
  • 3M-0.8%
  • 1Y27.2%
  • YTD22.0%

Over the last 7 days, the Oil and Gas industry has dropped 1.1%, and Exxon Mobil contributed the most with a 0.4% decline. In the past year, the industry has gained 27%. 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
Wed, 10 Jun 2026US$2.6tUS$1.7tUS$116.1b13.8x22.5x1.5x
Fri, 08 May 2026US$2.7tUS$1.7tUS$122.2b13.9x22.1x1.6x
Sun, 05 Apr 2026US$2.7tUS$1.7tUS$122.4b15.6x22.4x1.6x
Tue, 03 Mar 2026US$2.5tUS$1.7tUS$122.3b14.4x20.8x1.5x
Thu, 29 Jan 2026US$2.3tUS$1.7tUS$118.1b14.1x19.5x1.4x
Sat, 27 Dec 2025US$2.1tUS$1.7tUS$117.8b12.8x17.7x1.2x
Mon, 24 Nov 2025US$2.1tUS$1.7tUS$116.4b13.1x18x1.2x
Wed, 22 Oct 2025US$2.1tUS$1.7tUS$115.9b12.9x17.9x1.2x
Fri, 19 Sep 2025US$2.1tUS$1.7tUS$115.9b13.4x18.5x1.3x
Sun, 17 Aug 2025US$2.0tUS$1.7tUS$116.2b13.1x17.6x1.2x
Tue, 15 Jul 2025US$2.2tUS$1.7tUS$122.4b12.4x17.7x1.2x
Thu, 12 Jun 2025US$2.1tUS$1.7tUS$122.2b12.4x16.9x1.2x
Sat, 10 May 2025US$2.0tUS$1.7tUS$122.7b11.8x16.1x1.1x
Mon, 07 Apr 2025US$1.9tUS$1.7tUS$130.3b11.3x14.6x1.1x
Wed, 05 Mar 2025US$2.1tUS$1.7tUS$129.8b12.3x16.2x1.2x
Fri, 31 Jan 2025US$2.2tUS$1.8tUS$144.4b12.6x15.3x1.3x
Sun, 29 Dec 2024US$2.0tUS$1.8tUS$144.8b10.9x14.1x1.2x
Tue, 26 Nov 2024US$2.3tUS$1.8tUS$145.1b11.6x15.6x1.3x
Thu, 24 Oct 2024US$2.1tUS$1.8tUS$161.1b10.4x13.2x1.2x
Sat, 21 Sep 2024US$2.1tUS$1.8tUS$157.8b10x13.2x1.2x
Mon, 19 Aug 2024US$2.1tUS$1.8tUS$157.8b10.4x13.3x1.2x
Wed, 17 Jul 2024US$2.1tUS$1.8tUS$162.1b11.2x12.9x1.2x
Fri, 14 Jun 2024US$2.0tUS$1.8tUS$162.4b10.7x12.3x1.1x
Sun, 12 May 2024US$2.1tUS$1.8tUS$161.4b10.5x13x1.2x
Tue, 09 Apr 2024US$2.3tUS$1.8tUS$192.7b10.2x11.7x1.2x
Thu, 07 Mar 2024US$2.0tUS$1.8tUS$193.8b8.6x10.4x1.1x
Sat, 03 Feb 2024US$2.0tUS$1.9tUS$216.2b7.8x9.3x1.1x
Mon, 01 Jan 2024US$2.0tUS$1.9tUS$230.1b7.7x8.8x1.1x
Wed, 29 Nov 2023US$2.0tUS$1.9tUS$230.4b7.8x8.8x1.1x
Fri, 27 Oct 2023US$2.1tUS$2.0tUS$260.7b6.5x8x1x
Sun, 24 Sep 2023US$2.1tUS$2.0tUS$261.4b6.4x8.1x1x
Tue, 22 Aug 2023US$2.1tUS$2.0tUS$261.3b6.7x8x1x
Thu, 20 Jul 2023US$2.0tUS$2.2tUS$307.3b5.8x6.4x0.9x
Sat, 17 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 22.5x 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 Market-3.33%
Energy-1.23%
Oil and Gas-1.13%
Oil and Gas Storage and Transportation-0.0063%
Integrated Oil and Gas-0.65%
Oil and Gas Exploration and Production-1.89%
Oil and Gas Refining and Marketing-2.42%
Coal and Fuels-15.77%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 31.4x.
    • Analysts are expecting annual earnings growth of 58.4%, 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 58% 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
TPL Texas Pacific LandUS$382.113.0%
+US$778.7m		4.3%PE52.3x
LNG Cheniere EnergyUS$239.401.4%
+US$710.4m		4.0%PE34.4x
OKE ONEOKUS$87.791.2%
+US$674.1m		7.4%PE15.7x
FRO FrontlineUS$36.274.6%
+US$354.0m		106.7%PE8.9x
WMB Williams CompaniesUS$71.590.4%
+US$342.4m		21.4%PE31.4x

Latest News

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Diamondback Energy
7D
-4.0%
1Y
33.4%
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Diamondback: Time To Unwind The Top

Summary Diamondback Energy remains a low-cost Permian leader, but its valuation now fully reflects recent macro tailwinds and elevated oil prices. Q1 results were operationally excellent, with record revenue, increased dividends, accelerated deleveraging, and improved production guidance for FY 2026. FANG's current valuation embeds a significant geopolitical risk premium; scenario analysis shows downside risk if oil prices revert to mid-cycle levels. I now rate FANG as Hold, as shares trade near 52-week highs and the easy money from disruption-driven oil prices appears priced in. Read the full article on Seeking Alpha
CVX
US$186.76
Chevron
7D
-0.4%
1Y
30.3%
UEC
US$10.65
Uranium Energy
7D
-31.0%
1Y
72.1%
FRO
US$36.27
Frontline
7D
4.6%
1Y
106.7%
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Summary Frontline plc is rated a Strong Buy due to its spot-rate exposure, robust dividend policy, and favorable market dynamics. FRO’s nearly 100% spot-rate fleet and young vessel profile position it to fully capitalize on surging TCE rates and market volatility. The dividend yield is currently 17.63% and could rise above 30% if spot rates persist, supported by strong cash generation and low breakeven costs. Geopolitical disruptions, longer shipping routes, and Asian inventory drawdowns underpin a bullish outlook for FRO’s earnings and dividend sustainability. Read the full article on Seeking Alpha
DVN
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Devon Energy
7D
-4.7%
1Y
31.7%
LNG
US$239.40
Cheniere Energy
7D
1.4%
1Y
4.0%
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
XOM
US$148.91
Exxon Mobil
7D
-0.4%
1Y
38.9%
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MPC
US$258.15
Marathon Petroleum
7D
-1.9%
1Y
58.7%
Narrative Update • Jun 07

MPC: Oil Price Assumptions And Buybacks Will Guide Future Refining Returns

Narrative Update on Marathon Petroleum The analyst price target for Marathon Petroleum has moved higher to $265.06 from $256.83, with analysts pointing to higher oil and refining spread assumptions, a higher projected profit margin, and a lower future P/E estimate as key drivers of the recalibration. Analyst Commentary Recent research on Marathon Petroleum shows an active debate around how sustainable current refining economics and oil price assumptions may be, with several firms revising their models and valuation frameworks.
WMB
US$71.59
Williams Companies
7D
0.4%
1Y
21.4%
OKE
US$87.79
ONEOK
7D
1.2%
1Y
7.4%
PSX
US$179.00
Phillips 66
7D
-2.0%
1Y
50.8%
Narrative Update • Jun 06

PSX: Future Cash Flows Will Balance Refining Execution And Midstream Expansion

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VG
US$12.47
Venture Global
7D
0.8%
1Y
-26.8%
INSW
US$81.22
International Seaways
7D
3.4%
1Y
119.3%
Narrative Update • Jun 05

INSW: Rich Spot-Rate Dependence Will Constrain Returns As Tanker Cycle Normalizes

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TRGP
US$264.17
Targa Resources
7D
0.3%
1Y
60.0%
Narrative Update • Jun 04

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TPL
US$382.11
Texas Pacific Land
7D
3.0%
1Y
4.3%
OXY
US$56.55
Occidental Petroleum
7D
-4.3%
1Y
28.8%