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U.S. Oil and Gas Industry Analysis

UpdatedOct 01, 2025
DataAggregated Company Financials
Companies339
  • 7D-1.3%
  • 3M1.3%
  • 1Y-0.02%
  • YTD0.3%

Over the last 7 days, the Oil and Gas industry has dropped 1.3%, driven by pullbacks in Exxon Mobil and Chevron of 2.2% and 2.9%, respectively. Meanwhile, EQT actually outperformed within the industry, gaining 5.8% in the last week. As for the longer term, the industry's performance has been flat for the past year. Earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 02 Oct 2025US$2.2tUS$1.7tUS$115.8b13.6x18.6x1.3x
Sat, 30 Aug 2025US$2.1tUS$1.7tUS$116.5b13.3x18.3x1.3x
Mon, 28 Jul 2025US$2.1tUS$1.7tUS$121.3b12.5x17.3x1.2x
Wed, 25 Jun 2025US$2.1tUS$1.7tUS$122.2b12.5x17.1x1.2x
Fri, 23 May 2025US$2.0tUS$1.7tUS$122.2b11.8x16.3x1.1x
Sun, 20 Apr 2025US$2.0tUS$1.7tUS$130.3b11.4x15.1x1.1x
Tue, 18 Mar 2025US$2.1tUS$1.7tUS$130.7b12.8x16.3x1.2x
Thu, 13 Feb 2025US$2.2tUS$1.8tUS$142.1b11.4x15.6x1.3x
Sat, 11 Jan 2025US$2.1tUS$1.8tUS$144.9b11.7x14.7x1.2x
Mon, 09 Dec 2024US$2.2tUS$1.8tUS$145.0b10.9x14.9x1.2x
Wed, 06 Nov 2024US$2.1tUS$1.8tUS$147.3b10.4x14.4x1.2x
Fri, 04 Oct 2024US$2.1tUS$1.8tUS$160.5b11x13.3x1.2x
Sun, 01 Sep 2024US$2.1tUS$1.8tUS$157.8b10.3x13.4x1.2x
Tue, 30 Jul 2024US$2.1tUS$1.8tUS$160.3b11x12.9x1.2x
Thu, 27 Jun 2024US$2.1tUS$1.8tUS$162.1b11x12.7x1.2x
Sat, 25 May 2024US$2.0tUS$1.8tUS$160.9b10.5x12.7x1.2x
Mon, 22 Apr 2024US$2.2tUS$1.8tUS$192.7b9.4x11.3x1.2x
Wed, 20 Mar 2024US$2.1tUS$1.8tUS$193.2b8.7x11x1.2x
Fri, 16 Feb 2024US$1.9tUS$1.8tUS$204.8b8.4x9.4x1x
Sun, 14 Jan 2024US$2.0tUS$1.9tUS$230.1b7.8x8.7x1.1x
Tue, 12 Dec 2023US$2.0tUS$1.9tUS$230.3b7.6x8.6x1x
Thu, 09 Nov 2023US$2.0tUS$1.9tUS$231.1b7.4x8.7x1.1x
Sat, 07 Oct 2023US$2.0tUS$2.0tUS$261.6b6.5x7.8x1x
Mon, 04 Sep 2023US$2.1tUS$2.0tUS$261.4b6.7x8.1x1.1x
Wed, 02 Aug 2023US$2.1tUS$2.1tUS$280.7b6.4x7.4x1x
Fri, 30 Jun 2023US$1.9tUS$2.2tUS$307.3b5.5x6.3x0.9x
Sun, 28 May 2023US$1.9tUS$2.2tUS$307.5b5.3x6.2x0.9x
Tue, 25 Apr 2023US$2.0tUS$2.2tUS$273.8b6x7.4x0.9x
Thu, 23 Mar 2023US$1.9tUS$2.2tUS$275.3b5.7x6.8x0.8x
Sat, 18 Feb 2023US$2.0tUS$2.2tUS$268.0b6.6x7.5x0.9x
Mon, 16 Jan 2023US$2.1tUS$2.2tUS$254.2b7.1x8.4x1x
Wed, 14 Dec 2022US$2.1tUS$2.2tUS$254.2b7x8.1x1x
Fri, 11 Nov 2022US$2.2tUS$2.1tUS$253.6b7.9x8.6x1x
Sun, 09 Oct 2022US$2.0tUS$1.9tUS$190.1b9.7x10.6x1x
Price to Earnings Ratio

10.6x


Total Market Cap: US$2.0tTotal Earnings: US$190.1bTotal Revenue: US$1.9tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Industry Price to Earnings3Y Average 11.5x202320242025
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 18.6x which is higher than its 3-year average PE of 11.5x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 15% per year over the last three years,
  • Revenues have also declined 4.7% 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 Market0.77%
Energy-1.19%
Oil and Gas-1.30%
Coal and Fuels5.24%
Oil and Gas Exploration and Production0.0071%
Oil and Gas Refining and Marketing-1.24%
Oil and Gas Storage and Transportation-1.30%
Integrated Oil and Gas-2.27%
Industry PE
  • Investors are most optimistic about the Oil and Gas Refining and Marketing industry which is trading above its 3-year average PE ratio of 15.1x.
    • Analysts are expecting annual earnings growth of 27.0%, which is higher than its past year's earnings decline of 65.2% per year.
  • Investors are most pessimistic about the Oil and Gas Exploration and Production industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 10.6x.
Forecasted Growth
  • Analysts are most optimistic on the Coal and Fuels industry, expecting annual earnings growth of 46% over the next 5 years.
  • This is better than its past earnings decline of 55% per year.
  • In contrast, the Oil and Gas Storage and Transportation industry is expected to see its earnings grow by 9.8% 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
EQT EQTUS$56.165.8%
+US$1.9b		52.7%PE30.6x
EXE Expand EnergyUS$109.185.9%
+US$1.4b		31.2%PE125.8x
KMI Kinder MorganUS$28.301.7%
+US$1.1b		23.4%PE23.2x
WMB Williams CompaniesUS$63.691.3%
+US$1.0b		33.7%PE32.1x
LEU Centrus EnergyUS$331.1120.0%
+US$1.0b		414.9%PE57.5x

Latest News

CRK
US$21.34
Comstock Resources
7D
11.1%
1Y
88.3%

Revenues Tell The Story For Comstock Resources, Inc. (NYSE:CRK) As Its Stock Soars 32%

Oct 02
Revenues Tell The Story For Comstock Resources, Inc. (NYSE:CRK) As Its Stock Soars 32%
RRC
US$39.73
Range Resources
7D
7.9%
1Y
26.7%
OXY
US$47.72
Occidental Petroleum
7D
1.8%
1Y
-10.7%
XOM
US$111.99
Exxon Mobil
7D
-2.2%
1Y
-7.8%
EXE
US$109.18
Expand Energy
7D
5.9%
1Y
31.2%

Digital Advances And Regional Positioning Will Reshape The Energy Landscape

The consensus Analyst Price Target for Expand Energy has been revised downward, primarily reflecting a sharp decline in Net Profit Margin and a significant increase in Future P/E, with fair value reduced from $132.15 to $128.78. What's in the News CFO Mohit Singh departed the company due to termination without cause; Brittany Raiford appointed as Interim CFO.
VLO
US$167.67
Valero Energy
7D
-1.8%
1Y
23.6%

St Charles SEC Unit Will Yield High-Value Products

Valero Energy’s consensus price target has been raised to $166.06 as analysts cite persistent refining margin strength, resilient product markets, and strong recent earnings, despite some valuation concerns following recent outperformance. Analyst Commentary Bullish analysts highlight persistent global refining margin strength, with product markets remaining tight and defying expectations of a decline.
LEU
US$331.11
Centrus Energy
7D
20.0%
1Y
414.9%

Delayed DOE Awards Will Hinder Nuclear Fuel Potential

Centrus Energy’s analyst price target was raised from $238.46 to $242.86, reflecting growing optimism driven by new international partnerships, extended government contracts, and its unique role in a resurgent nuclear sector. Analyst Commentary Bullish analysts highlighted the signing of a Memorandum of Understanding with credible international nuclear partners, signaling confidence in Centrus' role in the domestic nuclear fuel supply chain buildout.
PSX
US$134.59
Phillips 66
7D
-1.5%
1Y
0.09%

NGL, Midstream And Refining Upgrades Will Shape Future Success

Consensus price targets for Phillips 66 have increased to $139.84, reflecting analyst confidence in persistent refining margin strength, strong recent results, and upside from chemicals, while near-term risks from potential activist exits and sector pullbacks are noted. Analyst Commentary Bullish analysts cite persistent strength in refining margins, with global product markets remaining relatively tight and distillate tightness expected to continue into winter, supporting a higher margin risk well into 2026.
TRGP
US$168.07
Targa Resources
7D
-2.4%
1Y
9.7%

Permian And Export Developments Will Drive Long-Term Success

Despite Targa Resources' resilient Permian volumes, robust cash flow prospects, and investor focus on capital returns, analysts modestly lowered price targets—now $205.30—citing sector-wide valuation concerns and near-term growth already reflected in the stock after a significant rally. Analyst Commentary Bullish analysts cite Targa's strong positioning for natural gas, LNG, and natural gas liquid infrastructure expansion, underpinned by robust global power demand and high-quality asset selection.
KMI
US$28.30
Kinder Morgan
7D
1.7%
1Y
23.4%
PR
US$12.81
Permian Resources
7D
-6.3%
1Y
-8.6%
EQT
US$56.16
EQT
7D
5.8%
1Y
52.7%

Appalachian Natural Gas Infrastructure Will Drive Enduring Value

Analysts revised EQT’s price target slightly lower to $62.12, balancing optimism on AI-driven gas demand, production growth, and acquisitions against persistent risks from natural gas oversupply and weak pricing. Analyst Commentary Bullish analysts cite EQT's unique positioning to serve explosive data center and AI-driven demand, winning substantial gas supply agreements and projecting significant dry gas production growth through 2032, which supports higher free cash flow.
CVX
US$154.58
Chevron
7D
-2.9%
1Y
2.4%

Permian Production And Renewables Will Shape Enduring Value

Analysts have raised their price target for Chevron, citing resilient Q2 results, improved refining margins, strong resource depth, and long-term support from rising natural gas demand, partially offset by integration risks post-acquisition, resulting in a modest upward revision of fair value to $168.78. Analyst Commentary Bullish analysts highlight Chevron’s strong second-quarter results, demonstrating resilience and outperformance among integrated oil companies due to a diversified asset portfolio and reliable shareholder returns.
LNG
US$232.11
Cheniere Energy
7D
-1.9%
1Y
25.8%

There's Been No Shortage Of Growth Recently For Cheniere Energy's (NYSE:LNG) Returns On Capital

Sep 10
There's Been No Shortage Of Growth Recently For Cheniere Energy's (NYSE:LNG) Returns On Capital
WMB
US$63.69
Williams Companies
7D
1.3%
1Y
33.7%

Is Williams Companies (NYSE:WMB) Using Too Much Debt?

Sep 05
Is Williams Companies (NYSE:WMB) Using Too Much Debt?
EOG
US$111.27
EOG Resources
7D
-4.7%
1Y
-13.3%