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U.S. Oil and Gas Industry Analysis

UpdatedAug 05, 2026
DataAggregated Company Financials
Companies346
  • 7D1.4%
  • 3M3.2%
  • 1Y31.3%
  • YTD26.7%

The Oil and Gas industry is up 1.4% in the last week, with ConocoPhillips up 3.4%. This means that the industry has gained 31% over the past year. As for the next few years, earnings are expected to grow by 7.1% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 05 Aug 2026US$2.7tUS$1.9tUS$145.2b13.6x18.5x1.4x
Fri, 03 Jul 2026US$2.4tUS$1.7tUS$116.0b13x20.9x1.4x
Sun, 31 May 2026US$2.5tUS$1.7tUS$116.1b13.1x21.8x1.5x
Tue, 28 Apr 2026US$2.6tUS$1.7tUS$125.4b14.9x20.7x1.5x
Thu, 26 Mar 2026US$2.8tUS$1.7tUS$122.4b16.4x22.9x1.6x
Sat, 21 Feb 2026US$2.5tUS$1.7tUS$122.3b14.5x20.5x1.5x
Mon, 19 Jan 2026US$2.2tUS$1.7tUS$117.7b13.7x18.9x1.3x
Wed, 17 Dec 2025US$2.1tUS$1.7tUS$117.7b12.8x17.8x1.2x
Fri, 14 Nov 2025US$2.1tUS$1.7tUS$116.8b14.3x18.2x1.2x
Sun, 12 Oct 2025US$2.0tUS$1.7tUS$115.9b13.2x17.6x1.2x
Tue, 09 Sep 2025US$2.1tUS$1.7tUS$115.9b12.7x17.9x1.2x
Thu, 07 Aug 2025US$2.1tUS$1.7tUS$118.3b12.8x17.5x1.2x
Sat, 05 Jul 2025US$2.1tUS$1.7tUS$122.4b12.5x17.3x1.2x
Mon, 02 Jun 2025US$2.0tUS$1.7tUS$122.3b11.7x16.2x1.1x
Wed, 30 Apr 2025US$2.0tUS$1.7tUS$127.8b11.8x15.7x1.2x
Fri, 28 Mar 2025US$2.2tUS$1.7tUS$130.5b13.1x17.2x1.3x
Sun, 23 Feb 2025US$2.2tUS$1.7tUS$137.0b12.2x15.9x1.3x
Tue, 21 Jan 2025US$2.3tUS$1.8tUS$144.9b12.1x15.5x1.3x
Thu, 19 Dec 2024US$2.1tUS$1.8tUS$144.9b10.7x14.2x1.2x
Sat, 16 Nov 2024US$2.2tUS$1.8tUS$146.1b11.3x15.2x1.3x
Mon, 14 Oct 2024US$2.2tUS$1.8tUS$161.0b10.9x13.6x1.2x
Wed, 11 Sep 2024US$2.0tUS$1.8tUS$157.8b9.7x12.7x1.1x
Fri, 09 Aug 2024US$2.0tUS$1.8tUS$159.1b10.1x12.7x1.1x
Sun, 07 Jul 2024US$2.0tUS$1.8tUS$162.2b10.5x12.6x1.2x
Tue, 04 Jun 2024US$2.1tUS$1.8tUS$162.5b10.7x12.8x1.2x
Thu, 02 May 2024US$2.2tUS$1.8tUS$179.4b9.6x12x1.2x
Sat, 30 Mar 2024US$2.2tUS$1.8tUS$193.2b9.4x11.3x1.2x
Mon, 26 Feb 2024US$2.0tUS$1.8tUS$195.3b8.5x10.2x1.1x
Wed, 24 Jan 2024US$2.0tUS$1.9tUS$230.1b7.6x8.5x1x
Fri, 22 Dec 2023US$2.0tUS$1.9tUS$230.1b7.8x8.8x1.1x
Sun, 19 Nov 2023US$2.0tUS$1.9tUS$230.5b7.8x8.6x1x
Tue, 17 Oct 2023US$2.1tUS$2.0tUS$261.6b6.6x8.2x1.1x
Thu, 14 Sep 2023US$2.1tUS$2.0tUS$261.4b6.6x8.2x1.1x
Sat, 12 Aug 2023US$2.1tUS$2.0tUS$261.8b6.8x8.1x1x
Price to Earnings Ratio

8.1x


Total Market Cap: US$2.1tTotal Earnings: US$261.8bTotal Revenue: US$2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Industry Price to Earnings3Y Average 15x202420252026
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 18.5x which is higher than its 3-year average PE of 15.0x.
  • 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 18% per year over the last three years,
  • Revenues have also declined 2.4% 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 Market4.85%
Energy1.66%
Oil and Gas1.38%
Coal and Fuels5.02%
Oil and Gas Exploration and Production3.15%
Oil and Gas Refining and Marketing1.63%
Integrated Oil and Gas1.00%
Oil and Gas Storage and Transportation0.15%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 45.5x.
    • Analysts are expecting annual earnings growth of 56.8%, which is higher than its past year's earnings decline of 27.4% per year.
  • Investors are most pessimistic about the Oil and Gas Refining and Marketing industry, which is trading below its 3-year average of 22.5x.
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 decline by 9.9% 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
COP ConocoPhillipsUS$117.943.4%
+US$4.7b		26.5%PE19.7x
CVX ChevronUS$190.401.5%
+US$2.6b		24.4%PE18.1x
EOG EOG ResourcesUS$143.522.8%
+US$2.1b		21.9%PE13.9x
MPC Marathon PetroleumUS$312.612.1%
+US$1.9b		85.1%PE10.7x
VG Venture GlobalUS$12.845.5%
+US$1.7b		-13.1%PE13.6x

Latest News

OKE
US$87.65
ONEOK
7D
-1.3%
1Y
15.8%
WMB
US$71.51
Williams Companies
7D
1.9%
1Y
21.2%
VNOM
US$42.34
Viper Energy
7D
-1.9%
1Y
10.5%
KMI
US$31.38
Kinder Morgan
7D
-0.7%
1Y
11.9%
MPC
US$312.61
Marathon Petroleum
7D
2.1%
1Y
85.1%
CVX
US$190.40
Chevron
7D
1.5%
1Y
24.4%
STNG
US$76.40
Scorpio Tankers
7D
-3.4%
1Y
55.9%
XOM
US$153.96
ExxonMobil Holdings
7D
0.6%
1Y
43.6%
DTM
US$134.85
DT Midstream
7D
-2.4%
1Y
30.4%
OXY
US$55.09
Occidental Petroleum
7D
2.2%
1Y
27.9%
DINO
US$88.25
HF Sinclair
7D
-1.2%
1Y
101.7%
SUNC
US$73.88
SunocoCorp
7D
-2.8%
1Y
n/a
VG
US$12.84
Venture Global
7D
5.5%
1Y
-13.1%
Narrative Update • Jul 24

VG: Future LNG Contracts And Refinancing Plans Will Shape Balanced Outlook

Analysts have raised their price target on Venture Global from $12.26 to $16.32, citing updated assumptions that combine a lower discount rate, more moderate revenue growth, a higher profit margin outlook, and a reduced future P/E multiple. What’s in the News for Venture Global Venture Global LNG completed a US$2.26b offering of long dated senior secured notes due in 2034 and 2036 with coupons between 6.375% and 6.625%, using the proceeds to redeem higher cost 8.125% notes due 2028, while also adding leverage and interest costs (source: Venture Global Raises US$2.26b in Senior Secured Notes, Expands LNG Supply Contracts).
COP
US$117.94
ConocoPhillips
7D
3.4%
1Y
26.5%
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.
DVN
US$44.05
Devon Energy
7D
3.3%
1Y
36.3%
Seeking Alpha • Jul 13

Devon Energy - Ignore The Activism, Keep Iterating

Summary Devon Energy is now a ~$50 billion upstream company, strengthened by the $28 billion Coterra acquisition and integrated assets. DVN targets $2 billion in synergies by YE-2027, driving improved FCF and capital efficiency, with $800 million quarterly FCF pre-merger. Post-merger guidance calls for 1.4 million barrels/day production, $4.9 billion capex, and up to 70% of FCF returned to shareholders. DVN offers a ~2.5% dividend yield, robust share repurchases, and manageable debt, but oil price volatility remains the key risk. Read the full article on Seeking Alpha
EOG
US$143.52
EOG Resources
7D
2.8%
1Y
21.9%