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U.S. Oil and Gas Industry Analysis

UpdatedJun 08, 2026
DataAggregated Company Financials
Companies345
  • 7D0.9%
  • 3M2.1%
  • 1Y30.1%
  • YTD23.0%

Over the last 7 days, the Oil and Gas industry has remained flat, although notably Devon Energy declined by 4.4%. The past year has been better, since the industry has gained 30% in that time. 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
Mon, 08 Jun 2026US$2.6tUS$1.7tUS$116.1b13.8x22.3x1.5x
Wed, 06 May 2026US$2.7tUS$1.7tUS$124.5b14.7x21.8x1.6x
Fri, 03 Apr 2026US$2.7tUS$1.7tUS$122.5b15.6x22.2x1.6x
Sun, 01 Mar 2026US$2.5tUS$1.7tUS$122.8b14.4x20.7x1.5x
Tue, 27 Jan 2026US$2.3tUS$1.7tUS$118.1b13.5x19.3x1.3x
Thu, 25 Dec 2025US$2.1tUS$1.7tUS$117.8b12.7x17.7x1.2x
Sat, 22 Nov 2025US$2.1tUS$1.7tUS$116.7b13.1x17.8x1.2x
Mon, 20 Oct 2025US$2.0tUS$1.7tUS$115.9b12.6x17.7x1.2x
Wed, 17 Sep 2025US$2.1tUS$1.7tUS$115.8b13.2x18.1x1.2x
Fri, 15 Aug 2025US$2.1tUS$1.7tUS$116.2b13.2x17.7x1.2x
Sun, 13 Jul 2025US$2.1tUS$1.7tUS$122.4b12.5x17.5x1.2x
Tue, 10 Jun 2025US$2.0tUS$1.7tUS$122.2b12.1x16.6x1.2x
Thu, 08 May 2025US$1.9tUS$1.7tUS$122.6b11.4x15.9x1.1x
Sat, 05 Apr 2025US$2.1tUS$1.7tUS$130.3b11.3x16x1.2x
Mon, 03 Mar 2025US$2.2tUS$1.7tUS$130.9b12.3x16.6x1.3x
Wed, 29 Jan 2025US$2.2tUS$1.8tUS$145.7b11.9x15.2x1.3x
Fri, 27 Dec 2024US$2.0tUS$1.8tUS$144.8b10.9x14.1x1.2x
Sun, 24 Nov 2024US$2.3tUS$1.8tUS$145.1b11.6x15.7x1.3x
Tue, 22 Oct 2024US$2.1tUS$1.8tUS$161.1b10.6x13.3x1.2x
Thu, 19 Sep 2024US$2.1tUS$1.8tUS$157.8b10.3x13.1x1.1x
Sat, 17 Aug 2024US$2.1tUS$1.8tUS$157.8b10.4x13.3x1.2x
Mon, 15 Jul 2024US$2.1tUS$1.8tUS$162.2b11.1x12.7x1.2x
Wed, 12 Jun 2024US$2.0tUS$1.8tUS$162.4b10.8x12.6x1.1x
Fri, 10 May 2024US$2.1tUS$1.8tUS$161.4b10.5x12.9x1.2x
Sun, 07 Apr 2024US$2.3tUS$1.8tUS$192.5b10.3x11.7x1.2x
Tue, 05 Mar 2024US$2.0tUS$1.8tUS$193.9b8.5x10.3x1.1x
Thu, 01 Feb 2024US$2.1tUS$1.9tUS$225.9b7.9x9.1x1.1x
Sat, 30 Dec 2023US$2.0tUS$1.9tUS$230.1b7.7x8.8x1.1x
Mon, 27 Nov 2023US$2.0tUS$1.9tUS$230.4b8x8.8x1.1x
Wed, 25 Oct 2023US$2.1tUS$2.0tUS$262.0b6.5x8x1x
Fri, 22 Sep 2023US$2.1tUS$2.0tUS$261.4b6.5x8x1x
Sun, 20 Aug 2023US$2.1tUS$2.0tUS$261.3b6.8x8x1x
Tue, 18 Jul 2023US$1.9tUS$2.2tUS$307.3b5.6x6.3x0.9x
Thu, 15 Jun 2023US$1.9tUS$2.2tUS$307.3b5.3x6.3x0.9x
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 14.2x202420252026
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 22.3x which is higher than its 3-year average PE of 14.2x.
  • 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-2.49%
Energy0.68%
Oil and Gas0.88%
Oil and Gas Storage and Transportation2.31%
Oil and Gas Refining and Marketing1.04%
Integrated Oil and Gas0.95%
Oil and Gas Exploration and Production-0.57%
Coal and Fuels-4.86%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 31.0x.
    • Analysts are expecting annual earnings growth of 56.5%, 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 21.7x.
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 4.8% 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
CVX ChevronUS$187.310.8%
+US$2.9b		33.1%PE33.6x
WMB Williams CompaniesUS$71.962.7%
+US$2.3b		20.6%PE31.6x
LNG Cheniere EnergyUS$238.824.8%
+US$2.3b		4.4%PE34.3x
XOM Exxon MobilUS$149.920.4%
+US$2.2b		42.8%PE24.5x
OKE ONEOKUS$88.253.9%
+US$2.1b		8.8%PE15.7x

Latest News

FANG
US$192.62
Diamondback Energy
7D
-3.2%
1Y
35.5%
DVN
US$44.28
Devon Energy
7D
-4.4%
1Y
35.6%
XOM
US$149.92
Exxon Mobil
7D
0.4%
1Y
42.8%
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Summary The new Quant Growth & Income Portfolio targets both capital appreciation and dividend yield. QG&I’s diversified holdings include Exxon (XOM), EPR Properties (EPR), and Hanover Insurance Group (THG), each selected for strong value, growth, profitability, momentum, and EPS revisions. Steve Cress answers your questions! Read the full article on Seeking Alpha
APA
US$36.57
APA
7D
-3.1%
1Y
96.3%
PR
US$19.17
Permian Resources
7D
-2.5%
1Y
39.1%
Narrative Update • Jun 07

PR: Record Free Cash Flow And Dividend Policy Will Support Richer Future Multiple

Analysts have raised their price target for Permian Resources from $19.00 to about $22.26, citing updated assumptions for revenue growth, profit margins, and a lower future P/E multiple in their models. What's in the News Permian Resources reported record free cash flow and production for Q1 2026, supported by operational efficiencies, cost discipline, and better-than-forecast well results.
WMB
US$71.96
Williams Companies
7D
2.7%
1Y
20.6%
OKE
US$88.25
ONEOK
7D
3.9%
1Y
8.8%
COP
US$117.14
ConocoPhillips
7D
1.3%
1Y
33.1%
Narrative Update • Jun 06

COP: Future Cash Flows Will Track Prolonged Middle East Oil Supply Disruptions

Analysts have nudged the ConocoPhillips fair value estimate higher to $142.77 from $140.59 as they factor in higher long term oil price assumptions, which they link to ongoing Middle East tensions and a tighter supply backdrop highlighted in recent price target revisions across the sector. Analyst Commentary Recent research on ConocoPhillips points to a cluster of price target increases tied to higher oil price assumptions, tighter crude balances and changing views on refining margins and gas pricing.
KMI
US$31.68
Kinder Morgan
7D
2.7%
1Y
15.1%
Narrative Update • Jun 06

KMI: Gas Backlog And Long-Term Contracts Will Shape Future Risk Reward

Analysts have revised the Kinder Morgan price target by $2, reflecting updated views on revenue growth assumptions, profit margins, and future P/E multiples highlighted in recent research. Analyst Commentary Recent research on Kinder Morgan has been mixed, with several firms updating price targets and models in different directions.
EQT
US$53.75
EQT
7D
-2.7%
1Y
-2.1%
Narrative Update • Jun 06

EQT: LNG And Data Center Gas Demand Will Drive Future Cash Flow

Analysts have made only a slight trim to the blended EQT price target to about $70.04. A mix of recent target hikes from firms such as Citi, Wells Fargo, BMO Capital, Morgan Stanley, Mizuho, JPMorgan and Barclays, along with a few reductions and more cautious views, reflects updated commodity price assumptions, revised models and reactions to derivative losses.
UEC
US$12.65
Uranium Energy
7D
-6.9%
1Y
91.4%
LNG
US$238.82
Cheniere Energy
7D
4.8%
1Y
4.4%
CVX
US$187.31
Chevron
7D
0.8%
1Y
33.1%
Narrative Update • Jun 04

CVX: Tighter Oil Markets And Refining Margins Will Support Future Cash Returns

Analysts have nudged their Chevron fair value estimate higher to about $216 from roughly $213. This reflects updated views that tighter oil markets and stronger refining margins support a modestly lower future P/E assumption and a slightly richer valuation for the stock.
TPL
US$389.79
Texas Pacific Land
7D
5.9%
1Y
5.8%
OXY
US$56.93
Occidental Petroleum
7D
-3.4%
1Y
31.7%
LEU
US$161.78
Centrus Energy
7D
-14.4%
1Y
10.7%
Narrative Update • Jun 02

LEU: Federal Funding And Plant Expansion Will Support Long-Term Nuclear Fuel Upside

Centrus Energy’s updated analyst price target has been revised to $381.69 from $390.00. Analysts attribute this change to more measured revenue growth assumptions, a higher discount rate, and a richer future P/E estimate, partly offset by stronger expected profit margins.