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U.S. Oil and Gas Industry Analysis

UpdatedSep 01, 2026
DataAggregated Company Financials
Companies339
  • 7D0.7%
  • 3M10.6%
  • 1Y36.0%
  • YTD36.5%

Over the last 7 days, the Oil and Gas industry has remained flat. The past year has been better, since the industry has gained 36% in that time. As for the next few years, earnings are expected to grow by 3.9% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 02 Sep 2026US$2.8tUS$2.0tUS$163.4b12.8x17.3x1.4x
Fri, 31 Jul 2026US$2.7tUS$1.7tUS$116.3b14x23.2x1.5x
Sun, 28 Jun 2026US$2.5tUS$1.7tUS$116.0b12.9x21.2x1.4x
Tue, 26 May 2026US$2.7tUS$1.7tUS$115.9b14.6x23.1x1.5x
Thu, 23 Apr 2026US$2.6tUS$1.7tUS$125.1b14.7x20.5x1.5x
Sat, 21 Mar 2026US$2.7tUS$1.7tUS$122.4b15.8x22.3x1.6x
Mon, 16 Feb 2026US$2.5tUS$1.7tUS$121.4b14.5x20.5x1.5x
Wed, 14 Jan 2026US$2.2tUS$1.7tUS$117.7b13.5x18.3x1.3x
Fri, 12 Dec 2025US$2.1tUS$1.7tUS$116.2b13.5x18.4x1.3x
Sun, 09 Nov 2025US$2.1tUS$1.7tUS$116.2b13.5x18x1.2x
Tue, 07 Oct 2025US$2.1tUS$1.7tUS$115.9b13.1x18.4x1.3x
Thu, 04 Sep 2025US$2.1tUS$1.7tUS$116.3b12.8x18.5x1.3x
Sat, 02 Aug 2025US$2.1tUS$1.7tUS$122.0b12.3x17.3x1.2x
Mon, 30 Jun 2025US$2.1tUS$1.7tUS$122.2b12.1x16.9x1.2x
Wed, 28 May 2025US$2.0tUS$1.7tUS$122.0b12x16.3x1.1x
Fri, 25 Apr 2025US$2.0tUS$1.7tUS$130.5b11.6x15.1x1.1x
Sun, 23 Mar 2025US$2.2tUS$1.7tUS$130.5b13.1x16.9x1.3x
Tue, 18 Feb 2025US$2.2tUS$1.7tUS$141.0b11.6x15.4x1.2x
Thu, 16 Jan 2025US$2.2tUS$1.8tUS$144.9b12.2x15.2x1.2x
Sat, 14 Dec 2024US$2.1tUS$1.8tUS$145.0b11.1x14.7x1.2x
Mon, 11 Nov 2024US$2.2tUS$1.8tUS$146.9b10.9x15x1.2x
Wed, 09 Oct 2024US$2.2tUS$1.8tUS$160.9b10.8x13.7x1.2x
Fri, 06 Sep 2024US$2.0tUS$1.8tUS$157.8b9.9x12.9x1.1x
Sun, 04 Aug 2024US$2.0tUS$1.8tUS$157.4b10.4x13x1.1x
Tue, 02 Jul 2024US$2.1tUS$1.8tUS$162.2b10.8x12.7x1.2x
Thu, 30 May 2024US$2.1tUS$1.8tUS$161.1b10.9x12.8x1.2x
Sat, 27 Apr 2024US$2.2tUS$1.8tUS$183.7b9.7x12x1.2x
Mon, 25 Mar 2024US$2.1tUS$1.8tUS$193.3b9x11x1.2x
Wed, 21 Feb 2024US$2.0tUS$1.8tUS$202.9b8.3x9.6x1.1x
Fri, 19 Jan 2024US$1.9tUS$1.9tUS$230.1b7.7x8.5x1x
Sun, 17 Dec 2023US$2.0tUS$1.9tUS$230.1b7.8x8.7x1.1x
Tue, 14 Nov 2023US$2.0tUS$1.9tUS$230.5b7.7x8.7x1.1x
Thu, 12 Oct 2023US$2.1tUS$2.0tUS$261.6b6.5x8x1x
Sat, 09 Sep 2023US$2.1tUS$2.0tUS$261.4b6.8x8.1x1.1x
Price to Earnings Ratio

8.1x


Total Market Cap: US$2.1tTotal Earnings: US$261.4bTotal Revenue: US$2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Industry Price to Earnings3Y Average 15.3x202420252026
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 17.3x which is higher than its 3-year average PE of 15.3x.
  • 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 15% 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 Market0.071%
Energy1.18%
Oil and Gas0.73%
Coal and Fuels3.41%
Oil and Gas Refining and Marketing3.11%
Oil and Gas Storage and Transportation2.34%
Oil and Gas Exploration and Production-0.12%
Integrated Oil and Gas-0.59%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 52.5x.
    • Analysts are expecting annual earnings growth of 55.6%, which is higher than its past year's earnings decline of 26.1% per year.
  • Investors are most pessimistic about the Oil and Gas Refining and Marketing industry, which is trading below its 3-year average of 22.7x.
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 26% per year.
  • In contrast, the Oil and Gas Refining and Marketing industry is expected to see its earnings decline by 13% 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$211.055.6%
+US$21.9b		30.4%PE20.1x
XOM ExxonMobil HoldingsUS$164.552.4%
+US$16.1b		43.5%PE20.7x
MPC Marathon PetroleumUS$383.007.9%
+US$7.9b		112.6%PE12.6x
VLO Valero EnergyUS$361.996.3%
+US$6.2b		134.6%PE14.5x
PSX Phillips 66US$252.026.4%
+US$6.0b		88.3%PE14.2x

Latest News

PSX
US$252.02
Phillips 66
7D
6.4%
1Y
88.3%
Seeking Alpha • 5h

Phillips 66: Reaping The Harvest At The Top Of The Cyclical Swing (Downgrade)

Summary Phillips 66 is experiencing record refining margins and exceptional profitability, driven by global supply constraints and elevated crack spreads. Despite a 40% stock rally, PSX now trades in line with its historical mid-cycle EV/EBITDA multiple, supporting a Hold recommendation. Current cash generation is fueling debt reduction, share buybacks, and dividend growth, structurally improving PSX’s long-term value. Near-term PSX risks include the eventual return of Russian, Chinese, and Middle Eastern supply, which could pressure PSX’s share price from current highs. Read the full article on Seeking Alpha
LNG
US$294.13
Cheniere Energy
7D
5.5%
1Y
22.1%
CVX
US$211.05
Chevron
7D
5.6%
1Y
30.4%
LEU
US$168.31
Centrus Energy
7D
-13.0%
1Y
-17.5%
Seeking Alpha • Aug 31

Centrus Energy: The Backlog Is Now Real

Summary Centrus Energy is executing ahead of schedule, with Q2 results reinforcing the bullish thesis and operational momentum. Removal of $3B in financial contingencies converts backlog to definitive contracts, materially de-risking LEU’s revenue base and supporting multiple expansion. HALEU is now a booked business, validated by the X-energy agreement and Oklo LOI, providing prepayments and non-dilutive funding for the buildout. We maintain a Buy rating on LEU, raising the price target to $280 on higher 2028 revenue estimates and a de-risked commercial platform. Read the full article on Seeking Alpha
AREC
US$2.31
American Resources
7D
-15.1%
1Y
18.5%
XOM
US$164.55
ExxonMobil Holdings
7D
2.4%
1Y
43.5%
TPL
US$369.93
Texas Pacific Land
7D
-0.8%
1Y
17.8%
COP
US$136.19
ConocoPhillips
7D
3.3%
1Y
37.6%
Narrative Update • Aug 25

COP: Iraq Project Pipeline And Q2 Execution Are Expected To Drive Upside

ConocoPhillips’ analyst-derived fair value estimate has moved from $170.41 to $175.29 as analysts factor in updated Q2 results, revised energy price outlooks, and the company’s balance sheet strength and project pipeline. Analyst Commentary Recent research on ConocoPhillips shows a cluster of higher price targets and rating upgrades following Q2 results and updated energy price assumptions.
WMB
US$75.23
Williams Companies
7D
5.8%
1Y
31.1%
PBT
US$34.05
Permian Basin Royalty Trust
7D
-1.6%
1Y
92.5%
VLO
US$361.99
Valero Energy
7D
6.3%
1Y
134.6%
Narrative Update • Aug 21

VLO: Tight Refining Markets And Cash Returns Will Support Future Earnings Resilience

Valero Energy's analyst fair value estimate has shifted from $300 to $365. Analysts attribute this change to stronger cash generation, tighter global refining conditions, and higher assumed future P/E multiples, which are reflected in higher Street price targets across the sector.
MPC
US$383.00
Marathon Petroleum
7D
7.9%
1Y
112.6%
Narrative Update • Aug 20

MPC: Refining Margin Reliance Will Eventually Undermine Current Earnings Power

Marathon Petroleum’s updated analyst price target has increased from $293.12 to $324.56 as analysts factor in stronger margin capture in refining, tighter product inventories, and supportive midstream contributions, as reflected in a broad series of recent target increases across the Street. Analyst Commentary Recent Street research on Marathon Petroleum clusters around a constructive refining setup, resilient margin capture, and ongoing capital returns, but there are also flags around commodity sensitivity and the sustainability of current conditions.
TNK
US$88.30
Teekay Tankers
7D
-1.9%
1Y
79.5%
Narrative Update • Aug 19

TNK: Future Earnings Appeal Will Rely On Sustained Tanker Rate Strength

Analysts have raised their fair value estimate for Teekay Tankers from $96 to $115, citing updated price targets and supporting research commentary, including a recent increase in the target price to $90 from $86. What’s in the News for Teekay Tankers Teekay Tankers Ltd.
LTBR
US$7.43
Lightbridge
7D
-10.8%
1Y
-50.9%
TK
US$13.00
Teekay
7D
-2.7%
1Y
59.7%
Analysis Article • Aug 08

Investors Shouldn't Be Too Comfortable With Teekay's (NYSE:TK) Earnings

Teekay Corporation Ltd. ( NYSE:TK ) just reported some strong earnings, and the market reacted accordingly with a...
UEC
US$11.59
Uranium Energy
7D
-12.7%
1Y
5.6%