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U.S. Oil and Gas Industry Analysis

UpdatedJun 01, 2026
DataAggregated Company Financials
Companies348
  • 7D-5.5%
  • 3M-2.1%
  • 1Y29.5%
  • YTD20.0%

Over the last 7 days, the Oil and Gas industry has dropped 5.5%, driven by a pullback from Exxon Mobil of 3.6%. This takes the industry's 12 month performance to a gain of 30%. 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
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
Wed, 12 Jul 2023US$2.0tUS$2.2tUS$307.3b5.6x6.5x0.9x
Fri, 09 Jun 2023US$2.0tUS$2.2tUS$307.3b5.5x6.4x0.9x
Price to Earnings Ratio

6.4x


Total Market Cap: US$2.0tTotal 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 14.1x202420252026
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 21.8x which is higher than its 3-year average PE of 14.1x.
  • 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 Market1.58%
Energy-5.54%
Oil and Gas-5.54%
Coal and Fuels4.13%
Oil and Gas Refining and Marketing-1.57%
Integrated Oil and Gas-5.55%
Oil and Gas Exploration and Production-5.67%
Oil and Gas Storage and Transportation-7.26%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 29.8x.
    • Analysts are expecting annual earnings growth of 56.1%, 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 4.7% 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
VLO Valero EnergyUS$252.522.3%
+US$1.7b		96.8%PE17.9x
MPC Marathon PetroleumUS$258.661.6%
+US$1.2b		62.9%PE16.3x
PSX Phillips 66US$180.241.4%
+US$1.0b		57.7%PE17.6x
BTU Peabody EnergyUS$29.0618.4%
+US$549.3m		122.5%PS0.9x
CNR Core Natural ResourcesUS$93.1710.8%
+US$458.7m		38.9%PS1.1x

Latest News

CVX
US$185.83
Chevron
7D
-2.9%
1Y
34.8%
COP
US$115.58
ConocoPhillips
7D
-4.1%
1Y
33.3%
BTU
US$29.06
Peabody Energy
7D
18.4%
1Y
122.5%
Narrative Update • Jun 01

BTU: Future Cash Generation Should Offset Legal And Project Execution Setbacks

Analysts have reduced their average price target on Peabody Energy by a few dollars, reflecting updated assumptions for discount rates, profit margins, and future P/E multiples across recent research revisions. Analyst Commentary Recent Street research has been mixed, but there are still some clearly constructive signals that focus on Peabody Energy's ability to execute and support current valuation levels.
CVI
US$34.92
CVR Energy
7D
7.6%
1Y
50.1%
Narrative Update • May 31

CVI: Higher Oil And Crack Assumptions Will Shape Mixed Future Returns

Analysts have lifted their price target on CVR Energy to $35, supported by updated assumptions that include a higher discount rate, an adjusted revenue growth outlook, stronger profit margin expectations, and a lower future P/E multiple tied to revised oil and refining crack forecasts. Analyst Commentary Recent research points to a mixed but increasingly engaged view on CVR Energy, with price targets moving higher even where ratings remain cautious.
VLO
US$252.52
Valero Energy
7D
2.3%
1Y
96.8%
XOM
US$149.38
Exxon Mobil
7D
-3.6%
1Y
45.0%
Seeking Alpha • May 31

Exxon Mobil: Sell If The Iran War Ends

Summary Exxon Mobil is rated sell due to overvaluation and fading war premium in oil prices. XOM’s recent share appreciation was driven by geopolitical disruptions, not operational outperformance or sustainable catalysts. Rising global oil supply, potential peace in Iran, and asset impairments in Qatar/UAE threaten future earnings and share price. My valuation model estimates XOM’s intrinsic value at $99.76 per share, well below current levels. Read the full article on Seeking Alpha
WMB
US$70.04
Williams Companies
7D
-10.7%
1Y
14.3%
PSX
US$180.24
Phillips 66
7D
1.4%
1Y
57.7%
UEC
US$13.59
Uranium Energy
7D
4.4%
1Y
138.8%
MPC
US$258.66
Marathon Petroleum
7D
1.6%
1Y
62.9%
KMI
US$30.85
Kinder Morgan
7D
-8.7%
1Y
7.7%
Seeking Alpha • May 28

Kinder Morgan: Valuation Is Already High To Fuel Further Upside

Summary Kinder Morgan remains fundamentally robust with strong Q1 2026 revenue growth and resilient natural gas demand. KMI's valuation is fully priced, trading at a 22.2x P/E, above its five-year average, limiting near-term upside potential. Pipeline capacity expansion and a stable liquidity position the company to benefit from rising U.S. power demand and data center growth. I reiterate my 'Hold' rating as technicals show emerging caution signals and upside appears constrained at current levels. Read the full article on Seeking Alpha
CNR
US$93.17
Core Natural Resources
7D
10.8%
1Y
38.9%
OKE
US$84.95
ONEOK
7D
-9.7%
1Y
3.0%
Seeking Alpha • May 22

ONEOK: Pipe Returns And Cash Into Your Portfolio

Summary ONEOK leverages a vast pipeline network, critical to the U.S. economy, and is well-positioned to benefit from surging data center demand. OKE’s Q1 revenue rose 19.6% year-over-year, with adjusted EBITDA up 12.5%, driven by volume growth, acquisitions, and favorable price differentials. OKE targets a 3.5x leverage ratio by end-2026, supporting its BBB credit rating, with capex winding down by mid-2027 to enable dividend growth and buybacks. Trading at a forward P/OCF of 8.6, below its 10-year average, OKE offers a nearly 5% yield and 17% upside potential through 2027 if growth projections are met. Read the full article on Seeking Alpha
VG
US$12.68
Venture Global
7D
-8.3%
1Y
7.5%
PBF
US$41.83
PBF Energy
7D
4.0%
1Y
126.1%
Narrative Update • May 21

PBF: Higher Oil Price Assumptions Will Support West Coast Margin Upside

Analysts have modestly lifted the implied fair value for PBF Energy to about $60.58 per share. This reflects updated views on revenue growth, profit margins, and a lower assumed future P/E multiple, alongside a mixed but generally higher set of recent Street price targets around the $40 to $45 range.
TRGP
US$259.08
Targa Resources
7D
-6.4%
1Y
59.6%