Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

U.S. Oil and Gas Industry Analysis

UpdatedJun 09, 2026
DataAggregated Company Financials
Companies347
  • 7D1.3%
  • 3M3.2%
  • 1Y31.0%
  • YTD23.9%

In the last week, the Oil and Gas industry is up 1.3%, with Exxon Mobil up 1.6%. This takes the industry's 12 month performance to a gain of 31%. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 09 Jun 2026US$2.6tUS$1.7tUS$116.1b13.9x22.3x1.5x
Thu, 07 May 2026US$2.7tUS$1.7tUS$122.2b13.9x22.1x1.6x
Sat, 04 Apr 2026US$2.7tUS$1.7tUS$122.4b15.6x22.4x1.6x
Mon, 02 Mar 2026US$2.5tUS$1.7tUS$122.3b14.4x20.8x1.5x
Wed, 28 Jan 2026US$2.3tUS$1.7tUS$118.1b13.6x19.3x1.3x
Fri, 26 Dec 2025US$2.1tUS$1.7tUS$117.8b12.7x17.7x1.2x
Sun, 23 Nov 2025US$2.1tUS$1.7tUS$116.4b13.1x17.8x1.2x
Tue, 21 Oct 2025US$2.1tUS$1.7tUS$115.9b12.8x17.9x1.2x
Thu, 18 Sep 2025US$2.1tUS$1.7tUS$115.8b13.5x18.4x1.3x
Sat, 16 Aug 2025US$2.1tUS$1.7tUS$116.2b13.1x17.7x1.2x
Mon, 14 Jul 2025US$2.2tUS$1.7tUS$122.4b12.5x17.7x1.2x
Wed, 11 Jun 2025US$2.0tUS$1.7tUS$122.2b12.1x16.7x1.2x
Fri, 09 May 2025US$2.0tUS$1.7tUS$123.1b11.6x15.9x1.1x
Sun, 06 Apr 2025US$1.9tUS$1.7tUS$130.3b11.3x14.6x1.1x
Tue, 04 Mar 2025US$2.2tUS$1.7tUS$130.2b12.5x16.7x1.3x
Thu, 30 Jan 2025US$2.2tUS$1.8tUS$145.9b12x15.1x1.2x
Sat, 28 Dec 2024US$2.0tUS$1.8tUS$144.8b10.9x14.1x1.2x
Mon, 25 Nov 2024US$2.3tUS$1.8tUS$145.1b11.6x15.7x1.3x
Wed, 23 Oct 2024US$2.1tUS$1.8tUS$161.1b10.4x13.2x1.2x
Fri, 20 Sep 2024US$2.1tUS$1.8tUS$157.8b10x13.1x1.1x
Sun, 18 Aug 2024US$2.1tUS$1.8tUS$157.8b10.4x13.3x1.2x
Tue, 16 Jul 2024US$2.1tUS$1.8tUS$162.1b11.1x12.7x1.2x
Thu, 13 Jun 2024US$2.0tUS$1.8tUS$162.4b10.8x12.5x1.1x
Sat, 11 May 2024US$2.1tUS$1.8tUS$161.4b10.5x13.1x1.2x
Mon, 08 Apr 2024US$2.3tUS$1.8tUS$192.5b10.3x11.7x1.2x
Wed, 06 Mar 2024US$2.0tUS$1.8tUS$194.0b8.5x10.3x1.1x
Fri, 02 Feb 2024US$2.0tUS$1.9tUS$225.5b7.8x8.9x1.1x
Sun, 31 Dec 2023US$2.0tUS$1.9tUS$230.1b7.7x8.8x1.1x
Tue, 28 Nov 2023US$2.0tUS$1.9tUS$230.4b7.8x8.8x1.1x
Thu, 26 Oct 2023US$2.1tUS$2.0tUS$261.6b6.5x8x1x
Sat, 23 Sep 2023US$2.1tUS$2.0tUS$261.4b6.4x8.1x1x
Mon, 21 Aug 2023US$2.1tUS$2.0tUS$261.3b6.8x8x1x
Wed, 19 Jul 2023US$2.0tUS$2.2tUS$307.3b5.7x6.4x0.9x
Fri, 16 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 14.2x202420252026
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-2.73%
Energy1.44%
Oil and Gas1.33%
Oil and Gas Refining and Marketing1.87%
Oil and Gas Storage and Transportation1.77%
Integrated Oil and Gas1.45%
Oil and Gas Exploration and Production0.66%
Coal and Fuels-4.78%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 31.2x.
    • 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 4.7% 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
XOM Exxon MobilUS$151.751.6%
+US$9.8b		44.6%PE24.8x
CVX ChevronUS$189.241.8%
+US$6.7b		34.4%PE34x
COP ConocoPhillipsUS$118.892.9%
+US$4.0b		35.0%PE19.8x
MPC Marathon PetroleumUS$266.172.9%
+US$2.2b		66.1%PE16.8x
OKE ONEOKUS$88.153.8%
+US$2.0b		8.7%PE15.7x

Latest News

DVN
US$45.08
Devon Energy
7D
-2.7%
1Y
38.1%
LEU
US$163.74
Centrus Energy
7D
-13.4%
1Y
12.1%
Seeking Alpha • 23h

Centrus: Falling Earnings Outlook Makes It Hard To Buy The Dip

Summary Centrus Energy trades at a generous valuation despite a 65% drop from its 52-week highs. LEU's Q1 earnings showed weak profitability, with adjusted net income down and 2026 EPS expected to fall by double digits. Analysts forecast further declines through at least 2028, raising questions about when this purported growth story will start to materialize. I maintain a neutral rating on LEU. The core business model seems fine, but the valuation isn't low enough to warrant a buy rating yet. Read the full article on Seeking Alpha
FANG
US$198.20
Diamondback Energy
7D
-0.4%
1Y
39.4%
XOM
US$151.75
Exxon Mobil
7D
1.6%
1Y
44.6%
Seeking Alpha • Jun 07

3 Growth & Income Stocks To Buy + Steve Answers Your Questions

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
MPC
US$266.17
Marathon Petroleum
7D
2.9%
1Y
66.1%
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.
EXE
US$90.42
Expand Energy
7D
-1.8%
1Y
-21.3%
WMB
US$71.59
Williams Companies
7D
2.2%
1Y
20.0%
OKE
US$88.15
ONEOK
7D
3.8%
1Y
8.7%
COP
US$118.89
ConocoPhillips
7D
2.9%
1Y
35.0%
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.
EQT
US$52.98
EQT
7D
-4.1%
1Y
-3.5%
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.
EOG
US$140.15
EOG Resources
7D
2.6%
1Y
22.6%
UEC
US$12.61
Uranium Energy
7D
-7.2%
1Y
90.8%
CVX
US$189.24
Chevron
7D
1.8%
1Y
34.4%
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.
AR
US$35.52
Antero Resources
7D
-3.4%
1Y
-8.7%
Narrative Update • Jun 04

AR: Rising Gas Demand And 2026 Output Are Expected To Support Upside

Analysts now set the fair value estimate for Antero Resources at $57.0, up from $56.0. This reflects updated assumptions that combine a slightly higher discount rate, a lower projected revenue growth rate of 12.33%, a higher expected profit margin of 24.93%, and a modestly lower future P/E of 10.99. What's in the News Antero reported record Q1 2026 natural gas production, with combined output of 347 Bcfe and daily combined production of 3,852 MMcfe/d, alongside revenues of US$1.90b that were 43.4% higher year on year and 16.8% above analyst expectations.
TPL
US$396.14
Texas Pacific Land
7D
7.6%
1Y
7.5%
OXY
US$57.48
Occidental Petroleum
7D
-2.4%
1Y
32.9%