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U.S. Oil and Gas Industry Analysis

UpdatedJul 23, 2026
DataAggregated Company Financials
Companies346
  • 7D5.4%
  • 3M5.1%
  • 1Y32.6%
  • YTD29.3%

In the last week, the Oil and Gas industry is up 3.2%, with ExxonMobil Holdings up 6.9%. This takes the industry's 12 month performance to a gain of 32%. Looking forward, 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
Thu, 23 Jul 2026US$2.7tUS$1.7tUS$115.4b14.5x23.3x1.6x
Sat, 20 Jun 2026US$2.4tUS$1.7tUS$116.0b12.9x21x1.4x
Mon, 18 May 2026US$2.7tUS$1.7tUS$115.6b14.9x23.4x1.6x
Wed, 15 Apr 2026US$2.6tUS$1.7tUS$123.7b14.7x21.2x1.5x
Fri, 13 Mar 2026US$2.6tUS$1.7tUS$122.4b15.4x21.4x1.5x
Sun, 08 Feb 2026US$2.4tUS$1.7tUS$120.5b14.1x20.2x1.4x
Tue, 06 Jan 2026US$2.2tUS$1.7tUS$117.7b13.2x18.4x1.3x
Thu, 04 Dec 2025US$2.1tUS$1.7tUS$116.2b13.6x18.2x1.2x
Sat, 01 Nov 2025US$2.1tUS$1.7tUS$119.6b12.9x17.3x1.2x
Mon, 29 Sep 2025US$2.2tUS$1.7tUS$115.9b13.5x18.9x1.3x
Wed, 27 Aug 2025US$2.1tUS$1.7tUS$116.1b13.2x18.1x1.2x
Fri, 25 Jul 2025US$2.1tUS$1.7tUS$121.2b12.6x17.3x1.2x
Sun, 22 Jun 2025US$2.1tUS$1.7tUS$122.2b12.6x17.5x1.2x
Tue, 20 May 2025US$2.1tUS$1.7tUS$122.2b12x16.9x1.2x
Thu, 17 Apr 2025US$1.9tUS$1.7tUS$130.4b11.3x14.7x1.1x
Sat, 15 Mar 2025US$2.1tUS$1.7tUS$130.7b12.7x15.9x1.2x
Mon, 10 Feb 2025US$2.1tUS$1.7tUS$141.0b11.5x15x1.2x
Wed, 08 Jan 2025US$2.1tUS$1.8tUS$144.9b11.4x14.5x1.2x
Fri, 06 Dec 2024US$2.2tUS$1.8tUS$145.0b11.4x15.1x1.2x
Sun, 03 Nov 2024US$2.1tUS$1.8tUS$150.0b10.7x13.9x1.2x
Tue, 01 Oct 2024US$2.1tUS$1.8tUS$157.8b10.1x13.1x1.1x
Thu, 29 Aug 2024US$2.1tUS$1.8tUS$157.8b10.3x13.2x1.2x
Sat, 27 Jul 2024US$2.1tUS$1.8tUS$160.3b11x12.9x1.2x
Mon, 24 Jun 2024US$2.0tUS$1.8tUS$162.1b10.7x12.4x1.1x
Wed, 22 May 2024US$2.1tUS$1.8tUS$161.0b10.8x13.1x1.2x
Fri, 19 Apr 2024US$2.2tUS$1.8tUS$192.7b9.3x11.2x1.2x
Sun, 17 Mar 2024US$2.1tUS$1.8tUS$193.3b8.6x10.8x1.2x
Tue, 13 Feb 2024US$1.9tUS$1.8tUS$206.3b8.1x9.4x1.1x
Thu, 11 Jan 2024US$2.0tUS$1.9tUS$230.1b7.7x8.7x1x
Sat, 09 Dec 2023US$2.0tUS$1.9tUS$230.4b7.8x8.5x1x
Mon, 06 Nov 2023US$2.1tUS$1.9tUS$234.2b7.1x8.9x1.1x
Wed, 04 Oct 2023US$2.1tUS$2.0tUS$261.6b6.4x8.1x1x
Fri, 01 Sep 2023US$2.1tUS$2.0tUS$261.4b6.6x8x1x
Sun, 30 Jul 2023US$2.0tUS$2.1tUS$285.8b6.1x7.1x1x
Price to Earnings Ratio

7.1x


Total Market Cap: US$2.0tTotal 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 23.0x 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 1.5x.
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 6.7% 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-1.35%
Energy4.87%
Oil and Gas5.36%
Integrated Oil and Gas6.66%
Oil and Gas Exploration and Production6.64%
Oil and Gas Refining and Marketing6.53%
Oil and Gas Storage and Transportation1.85%
Coal and Fuels1.46%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 41.5x.
    • 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 Storage and Transportation industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 15.1x.
Forecasted Growth
  • Analysts are most optimistic on the Coal and Fuels industry, expecting annual earnings growth of 57% 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 growth to stay flat 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$154.456.9%
+US$41.2b		40.5%PE25.3x
CVX ChevronUS$192.986.3%
+US$22.5b		26.0%PE34.7x
COP ConocoPhillipsUS$118.796.6%
+US$8.9b		25.0%PE19.8x
PSX Phillips 66US$211.417.8%
+US$6.1b		65.4%PE20.6x
VLO Valero EnergyUS$310.926.2%
+US$5.4b		110.7%PE22x

Latest News

MPC
US$315.82
Marathon Petroleum
7D
5.6%
1Y
77.9%
MGY
US$25.60
Magnolia Oil & Gas
7D
-4.2%
1Y
8.8%
PSX
US$211.41
Phillips 66
7D
7.8%
1Y
65.4%
Seeking Alpha • 14h

Phillips 66: Double Downgrade To Sell - The Peak Is In

Summary Phillips 66 has rallied 62% YTD, driven by robust refining EBITDA growth and high U.S. refinery utilization. PSX's diversified portfolio—Midstream, Chemicals, Refining, Marketing, and Renewables—reduces but does not eliminate earnings volatility. Valuation at 11.7x 2026 consensus EPS and near-record highs warrants caution; I rate PSX a Sell after the recent run. Key risks include normalization of refining margins, execution on capital projects, and volatility in Chemicals and Renewables. Read the full article on Seeking Alpha
VLO
US$310.92
Valero Energy
7D
6.2%
1Y
110.7%
COP
US$118.79
ConocoPhillips
7D
6.6%
1Y
25.0%
CVX
US$192.98
Chevron
7D
6.3%
1Y
26.0%
LODE
US$3.95
Comstock
7D
-5.0%
1Y
2.3%
VG
US$14.82
Venture Global
7D
14.8%
1Y
0.4%
DTM
US$143.44
DT Midstream
7D
-1.3%
1Y
44.6%
CLNE
US$2.12
Clean Energy Fuels
7D
-9.8%
1Y
-4.1%
UEC
US$9.73
Uranium Energy
7D
-3.8%
1Y
14.5%
Narrative Update • Jul 10

UEC: ISR Production Ramp And Inventory Strategy Will Drive Future Upside

Uranium Energy's updated analyst price target has shifted to reflect changes in fair value assumptions to $26.56, a higher discount rate, very large revenue growth projections, and wider profit margin estimates, partly offset by a lower future P/E multiple after recent production and cost misses highlighted by analysts. Analyst Commentary Recent Street research on Uranium Energy reflects a mix of caution around near term execution and continued confidence in the company’s longer term setup.
XOM
US$154.45
ExxonMobil Holdings
7D
6.9%
1Y
40.5%
WKC
US$36.29
World Kinect
7D
-1.7%
1Y
26.2%
FANG
US$203.02
Diamondback Energy
7D
7.0%
1Y
41.3%
Narrative Update • Jul 09

FANG: Tighter Oil Supply And Iran Risk Will Support Future Cash Returns

Analysts have nudged their consolidated price target for Diamondback Energy higher, with fair value moving from about $257 to $272. This reflects updated views on oil market supply and demand, company profitability, and a lower implied future P/E multiple despite mixed recent target changes across the Street.
GLNG
US$49.73
Golar LNG
7D
-1.9%
1Y
22.5%
Narrative Update • Jul 02

GLNG: Future Project Execution Will Drive Upside Case For This Name

Analysts have raised the fair value estimate for Golar LNG to $70 from $66, citing updated views on project execution for Hilli, Gimi and the MK II Fuji FLNG asset, along with revised assumptions on profitability and future P/E levels. Analyst Commentary on Golar LNG Recent Street research on Golar LNG highlights a mix of optimism and caution, with several bullish analysts pointing to project execution on Hilli, Gimi and the MK II Fuji FLNG asset as key inputs into their valuation work.
SAFX
US$0.43
XCF Global
7D
-14.3%
1Y
-76.2%