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

U.S. Oil and Gas Industry Analysis

UpdatedJul 25, 2026
DataAggregated Company Financials
Companies347
  • 7D3.3%
  • 3M6.1%
  • 1Y32.5%
  • YTD29.5%

The Oil and Gas industry is up 3.3% in the last week, with ExxonMobil Holdings up 6.5%. This means that the industry has gained 32% over the past year. 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
Sat, 25 Jul 2026US$2.7tUS$1.7tUS$116.1b14.3x23.6x1.6x
Mon, 22 Jun 2026US$2.4tUS$1.7tUS$116.0b12.9x21x1.4x
Wed, 20 May 2026US$2.7tUS$1.7tUS$115.6b15x23.7x1.6x
Fri, 17 Apr 2026US$2.6tUS$1.7tUS$123.7b15.1x20.7x1.5x
Sun, 15 Mar 2026US$2.7tUS$1.7tUS$122.3b15.5x21.7x1.5x
Tue, 10 Feb 2026US$2.4tUS$1.7tUS$120.5b14.1x20.2x1.4x
Thu, 08 Jan 2026US$2.1tUS$1.7tUS$117.7b13x18x1.2x
Sat, 06 Dec 2025US$2.2tUS$1.7tUS$116.2b13.8x18.5x1.3x
Mon, 03 Nov 2025US$2.1tUS$1.7tUS$117.5b12.9x17.6x1.2x
Wed, 01 Oct 2025US$2.2tUS$1.7tUS$115.8b13.6x18.6x1.3x
Fri, 29 Aug 2025US$2.1tUS$1.7tUS$116.5b13.3x18.2x1.3x
Sun, 27 Jul 2025US$2.1tUS$1.7tUS$121.3b12.5x17.3x1.2x
Tue, 24 Jun 2025US$2.1tUS$1.7tUS$122.2b12.4x17.3x1.2x
Thu, 22 May 2025US$2.0tUS$1.7tUS$122.2b11.7x16.6x1.2x
Sat, 19 Apr 2025US$2.0tUS$1.7tUS$130.3b11.4x15.1x1.1x
Mon, 17 Mar 2025US$2.1tUS$1.7tUS$130.7b12.7x16.3x1.2x
Wed, 12 Feb 2025US$2.2tUS$1.8tUS$142.3b11.6x15.5x1.3x
Fri, 10 Jan 2025US$2.1tUS$1.8tUS$144.9b11.5x14.7x1.2x
Sun, 08 Dec 2024US$2.2tUS$1.8tUS$145.0b10.9x14.9x1.2x
Tue, 05 Nov 2024US$2.1tUS$1.8tUS$150.1b10.5x13.9x1.2x
Thu, 03 Oct 2024US$2.1tUS$1.8tUS$160.5b10.9x12.9x1.2x
Sat, 31 Aug 2024US$2.1tUS$1.8tUS$157.8b10.3x13.3x1.2x
Mon, 29 Jul 2024US$2.1tUS$1.8tUS$160.3b10.9x12.9x1.2x
Wed, 26 Jun 2024US$2.1tUS$1.8tUS$162.1b11.1x12.7x1.2x
Fri, 24 May 2024US$2.1tUS$1.8tUS$160.9b10.5x12.8x1.2x
Sun, 21 Apr 2024US$2.2tUS$1.8tUS$192.7b9.4x11.3x1.2x
Tue, 19 Mar 2024US$2.1tUS$1.8tUS$193.2b8.5x10.9x1.2x
Thu, 15 Feb 2024US$1.9tUS$1.8tUS$204.7b8.1x9.4x1x
Sat, 13 Jan 2024US$2.0tUS$1.9tUS$230.1b7.8x8.7x1.1x
Mon, 11 Dec 2023US$2.0tUS$1.9tUS$230.3b7.8x8.5x1x
Wed, 08 Nov 2023US$2.0tUS$1.9tUS$234.2b6.9x8.7x1.1x
Fri, 06 Oct 2023US$2.0tUS$2.0tUS$261.6b6.3x7.8x1x
Sun, 03 Sep 2023US$2.1tUS$2.0tUS$261.4b6.7x8.1x1.1x
Tue, 01 Aug 2023US$2.1tUS$2.1tUS$285.8b6.2x7.3x1x
Price to Earnings Ratio

7.3x


Total Market Cap: US$2.1tTotal Earnings: US$285.8bTotal Revenue: US$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Industry Price to Earnings3Y Average 14.9x202420252026
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 23.6x which is higher than its 3-year average PE of 14.9x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 26% per year over the last three years,
  • Revenues have also declined 6.6% 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-1.06%
Energy3.26%
Oil and Gas3.28%
Integrated Oil and Gas5.48%
Oil and Gas Exploration and Production4.12%
Oil and Gas Storage and Transportation1.35%
Coal and Fuels0.17%
Oil and Gas Refining and Marketing-1.13%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 42.1x.
    • Analysts are expecting annual earnings growth of 56.3%, which is higher than its past year's earnings decline of 27.4% per year.
  • Investors are most pessimistic about the Oil and Gas Storage and Transportation industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 15.2x.
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 decline by 2.2% 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 ExxonMobil HoldingsUS$156.946.5%
+US$39.7b		42.2%PE25.7x
CVX ChevronUS$194.794.0%
+US$14.7b		25.8%PE35x
COP ConocoPhillipsUS$120.264.8%
+US$6.8b		26.7%PE20.1x
EOG EOG ResourcesUS$146.394.6%
+US$3.5b		23.7%PE14.2x
FANG Diamondback EnergyUS$204.684.7%
+US$2.6b		41.5%PE206.4x

Latest News

MTDR
US$50.81
Matador Resources
7D
-5.6%
1Y
0.04%
XOM
US$156.94
ExxonMobil Holdings
7D
6.5%
1Y
42.2%
EQT
US$53.03
EQT
7D
7.0%
1Y
1.6%
VLO
US$302.50
Valero Energy
7D
-2.3%
1Y
113.1%
Narrative Update • Jul 24

VLO: Elevated Refining Margins And Crack Spreads Will Drive Future Downside Risk

Valero Energy's analyst price target has been revised higher to $202.68 from $170.00, as analysts factor in tighter global refining conditions, stronger projected refining margins supported by higher strip cracks, and a generally constructive sector outlook reflected in a series of recent target hikes across major research firms. Analyst Commentary Street research on Valero Energy has become more constructive overall, with several firms lifting price targets on the back of tighter refining markets, higher strip cracks and updated commodity assumptions.
OVV
US$63.13
Ovintiv
7D
9.2%
1Y
52.4%
MGY
US$25.33
Magnolia Oil & Gas
7D
-7.1%
1Y
6.7%
Analysis Article • Jul 24

Analysts Are Betting On Magnolia Oil & Gas Corporation (NYSE:MGY) With A Big Upgrade This Week

Celebrations may be in order for Magnolia Oil & Gas Corporation ( NYSE:MGY ) shareholders, with the analysts delivering...
COP
US$120.26
ConocoPhillips
7D
4.8%
1Y
26.7%
Narrative Update • Jul 23

COP: Iraq Reserves Expansion Is Expected To Drive Future Upside Potential

Analysts have adjusted their outlook on ConocoPhillips, with the updated fair value estimate rising from $156.00 to about $170.41 as they incorporate revised oil price assumptions, mixed changes to individual price targets, and updated expectations for revenue growth, profit margins, and future P/E levels. Analyst Commentary Recent Street research on ConocoPhillips shows a wide range of views, but the most optimistic analysts are leaning into higher oil assumptions, tighter supply expectations, and what they see as attractive entry points after pullbacks in the stock.
FANG
US$204.68
Diamondback Energy
7D
4.7%
1Y
41.5%
Narrative Update • Jul 23

FANG: Tighter Oil Supply And Q2 Execution Will Shape Future P/E Premium

Diamondback Energy's analyst fair value estimate has shifted modestly lower to $192 from $200 as analysts weigh a mix of higher long term growth and profitability assumptions against a recalibrated future P/E, along with a wide range of revised price targets from $212 to $255 ahead of upcoming Q2 updates. Analyst Commentary Recent research on Diamondback Energy shows a mix of optimism around upcoming Q2 updates and more cautious adjustments to valuation.
STDN
US$8.30
Standard Nuclear
7D
-20.2%
1Y
n/a
MPC
US$309.24
Marathon Petroleum
7D
-1.1%
1Y
80.2%
Narrative Update • Jul 22

MPC: Tighter Cracks And Heavy Buybacks Will Drive Balanced Future Returns

Analysts have raised the Marathon Petroleum fair value estimate from $271.59 to $293.12 as higher Street price targets, tighter refining markets, and expectations for stronger margins and shareholder returns are reflected in updated revenue growth and P/E assumptions. Analyst Commentary Recent Street research on Marathon Petroleum points to a generally constructive backdrop for the stock, with a cluster of higher price targets grounded in tighter refining markets, stronger crack spreads, and expectations for solid execution on shareholder returns.
OKE
US$93.16
ONEOK
7D
-0.4%
1Y
14.3%
Narrative Update • Jul 22

OKE: Raised Guidance And Mixed Basin Outlook Will Shape 2026 Returns

Analysts have lifted the fair value estimate for ONEOK to $88 from $84, reflecting updated views on a slightly lower discount rate, a modestly weaker revenue outlook, a higher profit margin profile, and a revised future P/E assumption that aligns with recent shifts in Street price targets and mixed rating changes across the midstream group. Analyst Commentary Recent Street research on ONEOK shows a split view, with some firms lifting price targets while others are dialing back expectations or taking a more cautious stance.
TRGP
US$281.33
Targa Resources
7D
-0.6%
1Y
69.9%
CVX
US$194.79
Chevron
7D
4.0%
1Y
25.8%
NEXT
US$7.01
NextDecade
7D
-8.8%
1Y
-38.1%
Narrative Update • Jul 10

NEXT: Recent Debt Offering Will Support Future Cash Flow Upside

Analysts have adjusted their fair value estimate for NextDecade to $9.40 from $8.75, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E expectations. What’s in the News for NextDecade Rio Grande LNG, a partially owned subsidiary of NextDecade, priced a US$3.5b private offering of senior secured notes with maturities from 2031 to 2041.
EOG
US$146.39
EOG Resources
7D
4.6%
1Y
23.7%
OXY
US$57.30
Occidental Petroleum
7D
4.4%
1Y
28.2%