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U.S. Oil and Gas Industry Analysis

UpdatedAug 18, 2026
DataAggregated Company Financials
Companies338
  • 7D3.2%
  • 3M2.4%
  • 1Y40.6%
  • YTD33.9%

Over the last 7 days, the Oil and Gas industry has risen 3.2%, driven by gains from Chevron of 4.0%. In the last 12 months, the industry was up 41%. As for the next few years, earnings are expected to grow by 4.1% 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, 18 Aug 2026US$2.8tUS$2.0tUS$162.8b12.7x17.2x1.4x
Thu, 16 Jul 2026US$2.6tUS$1.7tUS$116.0b13.6x22.5x1.5x
Sat, 13 Jun 2026US$2.6tUS$1.7tUS$116.0b13.8x22.1x1.5x
Mon, 11 May 2026US$2.5tUS$1.7tUS$116.0b14.2x21.9x1.5x
Wed, 08 Apr 2026US$2.8tUS$1.7tUS$122.4b15.7x22.5x1.6x
Fri, 06 Mar 2026US$2.6tUS$1.7tUS$122.3b15.4x21.1x1.5x
Sun, 01 Feb 2026US$2.4tUS$2.3tUS$153.9b13.7x15.3x1x
Tue, 30 Dec 2025US$2.1tUS$1.7tUS$117.8b13x17.8x1.2x
Thu, 27 Nov 2025US$2.1tUS$1.7tUS$116.2b13.3x17.9x1.2x
Sat, 25 Oct 2025US$2.1tUS$1.7tUS$117.2b12.8x18x1.2x
Mon, 22 Sep 2025US$2.1tUS$1.7tUS$115.9b13.2x18.2x1.2x
Wed, 20 Aug 2025US$2.0tUS$1.7tUS$116.2b12.8x17.5x1.2x
Fri, 18 Jul 2025US$2.1tUS$1.7tUS$122.6b12.3x17.1x1.2x
Sun, 15 Jun 2025US$2.1tUS$1.7tUS$122.2b12.9x17.5x1.2x
Tue, 13 May 2025US$2.0tUS$1.7tUS$123.0b11.9x16.2x1.1x
Thu, 10 Apr 2025US$1.8tUS$1.7tUS$130.3b11.6x14.1x1.1x
Sat, 08 Mar 2025US$2.0tUS$1.7tUS$130.7b12.3x15.6x1.2x
Mon, 03 Feb 2025US$2.2tUS$1.8tUS$143.8b12.2x15x1.2x
Wed, 01 Jan 2025US$2.0tUS$1.8tUS$144.8b11x14.1x1.2x
Fri, 29 Nov 2024US$2.2tUS$1.8tUS$145.0b11.5x15.5x1.3x
Sun, 27 Oct 2024US$2.1tUS$1.8tUS$158.7b10.5x13.4x1.2x
Tue, 24 Sep 2024US$2.1tUS$1.8tUS$157.8b10x13.2x1.2x
Thu, 22 Aug 2024US$2.1tUS$1.8tUS$157.8b10.2x13x1.1x
Sat, 20 Jul 2024US$2.1tUS$1.8tUS$162.1b11.3x13x1.2x
Mon, 17 Jun 2024US$2.0tUS$1.8tUS$162.2b10.4x12.2x1.1x
Wed, 15 May 2024US$2.1tUS$1.8tUS$161.2b10.6x13x1.2x
Fri, 12 Apr 2024US$2.2tUS$1.8tUS$192.6b10.1x11.6x1.2x
Sun, 10 Mar 2024US$2.0tUS$1.8tUS$193.6b8.6x10.5x1.1x
Tue, 06 Feb 2024US$1.9tUS$1.8tUS$206.1b7.7x9.3x1x
Thu, 04 Jan 2024US$2.1tUS$1.9tUS$230.1b7.9x9x1.1x
Sat, 02 Dec 2023US$2.0tUS$1.9tUS$230.4b7.8x8.8x1.1x
Mon, 30 Oct 2023US$2.0tUS$1.9tUS$240.0b6.6x8.4x1.1x
Wed, 27 Sep 2023US$2.1tUS$2.0tUS$261.4b6.5x8.2x1.1x
Fri, 25 Aug 2023US$2.0tUS$2.0tUS$261.2b6.5x7.8x1x
Price to Earnings Ratio

7.8x


Total Market Cap: US$2.0tTotal Earnings: US$261.2bTotal Revenue: US$2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Industry Price to Earnings3Y Average 15.2x202420252026
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 17.2x which is higher than its 3-year average PE of 15.2x.
  • 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 Market0.11%
Energy3.18%
Oil and Gas3.18%
Oil and Gas Refining and Marketing10.78%
Oil and Gas Storage and Transportation2.56%
Integrated Oil and Gas2.05%
Oil and Gas Exploration and Production2.04%
Coal and Fuels1.70%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 49.2x.
    • Analysts are expecting annual earnings growth of 52.8%, 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 22.6x.
Forecasted Growth
  • Analysts are most optimistic on the Coal and Fuels industry, expecting annual earnings growth of 53% 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 14% 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$202.704.0%
+US$15.3b		30.5%PE19.3x
MPC Marathon PetroleumUS$358.1811.8%
+US$10.6b		120.2%PE11.8x
PSX Phillips 66US$240.5511.6%
+US$10.0b		95.8%PE13.5x
VLO Valero EnergyUS$347.1910.2%
+US$9.3b		153.8%PE13.9x
XOM ExxonMobil HoldingsUS$161.461.0%
+US$6.9b		51.3%PE20.3x

Latest News

DVN
US$47.57
Devon Energy
7D
4.9%
1Y
41.8%
CVX
US$202.70
Chevron
7D
4.0%
1Y
30.5%
EQT
US$53.01
EQT
7D
-2.0%
1Y
5.0%
MPC
US$358.18
Marathon Petroleum
7D
11.8%
1Y
120.2%
PSX
US$240.55
Phillips 66
7D
11.6%
1Y
95.8%
VG
US$13.75
Venture Global
7D
-3.6%
1Y
11.1%
COP
US$127.56
ConocoPhillips
7D
3.7%
1Y
35.7%
AR
US$36.40
Antero Resources
7D
-1.8%
1Y
20.6%
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OKE
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ONEOK
7D
5.5%
1Y
30.5%
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SOC
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Sable Offshore
7D
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1Y
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CRK
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Comstock Resources
7D
-5.6%
1Y
-9.8%
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VLO
US$347.19
Valero Energy
7D
10.2%
1Y
153.8%
EXE
US$94.18
Expand Energy
7D
-3.5%
1Y
1.2%
Narrative Update • Aug 07

EXE: Twin Eagle Deal And Buybacks Will Shape Balanced Outlook

Analysts have reduced their price target for Expand Energy to $93 from $99.71, as they now expect softer revenue trends, a slightly higher discount rate and a lower future P/E multiple, partly offset by an improved profit margin outlook. What’s in the News for Expand Energy Expand Energy agreed to acquire Twin Eagle Holdings, an asset backed natural gas marketing and optimization business, in a US$1.25b transaction.
XOM
US$161.46
ExxonMobil Holdings
7D
1.0%
1Y
51.3%
HESM
US$39.66
Hess Midstream
7D
-2.4%
1Y
-3.0%
Analysis Article • Aug 06

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RRC
US$39.36
Range Resources
7D
-2.3%
1Y
18.8%
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Summary Range Resources delivered a staggering Q2 2026 EPS beat of 20.54%, reporting $0.79 EPS and an 11.92% revenue surprise at $833.57 million. RRC's production is set to rise from 2.3 Bcfe/d to 2.5 Bcfe/d by year-end, targeting 2.6 Bcfe/d in 2027, supporting multi-year growth on supply from assets alone. Technical analysis projects an 85%–140% long-term upside, with multi-year bullish cup-and-handle and fractal patterns aligning with consistent robust operational performance. RRC's core Appalachian assets are positioned to benefit from surging PJM power demand, driven by AI data center growth and regional supply constraints. Read the full article on Seeking Alpha