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U.S. Oil and Gas Industry Analysis

UpdatedSep 13, 2025
DataAggregated Company Financials
Companies339
  • 7D1.3%
  • 3M-1.0%
  • 1Y4.7%
  • YTD-1.2%

The Oil and Gas industry has been flat over the last week, but NextDecade has lost 36%. The past year has been better, since the industry has gained 5.9% in that time. As for the next few years, earnings are expected to grow by 13% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 13 Sep 2025US$2.1tUS$1.7tUS$115.8b12.8x18.3x1.3x
Mon, 11 Aug 2025US$2.0tUS$1.7tUS$116.0b13.2x17.6x1.2x
Wed, 09 Jul 2025US$2.1tUS$1.7tUS$122.4b12.6x17.2x1.2x
Fri, 06 Jun 2025US$2.0tUS$1.7tUS$122.2b11.9x16.4x1.1x
Sun, 04 May 2025US$2.0tUS$1.7tUS$123.4b11.7x16.1x1.1x
Tue, 01 Apr 2025US$2.2tUS$1.7tUS$130.4b12.9x16.9x1.3x
Thu, 27 Feb 2025US$2.1tUS$1.7tUS$135.5b12.5x15.8x1.2x
Sat, 25 Jan 2025US$2.3tUS$1.8tUS$145.7b12x15.6x1.3x
Mon, 23 Dec 2024US$2.0tUS$1.8tUS$144.8b10.9x13.9x1.1x
Wed, 20 Nov 2024US$2.2tUS$1.8tUS$146.3b11.8x15.3x1.3x
Fri, 18 Oct 2024US$2.1tUS$1.8tUS$161.1b10.8x13.2x1.2x
Sun, 15 Sep 2024US$2.0tUS$1.8tUS$157.8b9.9x12.7x1.1x
Tue, 13 Aug 2024US$2.1tUS$1.8tUS$157.9b10.3x13.1x1.1x
Thu, 11 Jul 2024US$2.0tUS$1.8tUS$162.2b10.6x12.5x1.1x
Sat, 08 Jun 2024US$2.0tUS$1.8tUS$162.4b10.8x12.5x1.1x
Mon, 06 May 2024US$2.1tUS$1.8tUS$163.8b10x12.6x1.2x
Wed, 03 Apr 2024US$2.2tUS$1.8tUS$192.8b9.9x11.4x1.2x
Fri, 01 Mar 2024US$2.0tUS$1.8tUS$194.8b8.6x10.2x1.1x
Sun, 28 Jan 2024US$2.0tUS$1.9tUS$227.5b7.9x8.9x1.1x
Tue, 26 Dec 2023US$2.0tUS$1.9tUS$230.1b7.8x8.9x1.1x
Thu, 23 Nov 2023US$2.0tUS$1.9tUS$230.4b8x8.8x1.1x
Sat, 21 Oct 2023US$2.1tUS$2.0tUS$261.5b6.5x8.2x1.1x
Mon, 18 Sep 2023US$2.1tUS$2.0tUS$261.4b6.7x8.2x1.1x
Wed, 16 Aug 2023US$2.1tUS$2.0tUS$261.3b6.7x7.9x1x
Fri, 14 Jul 2023US$2.0tUS$2.2tUS$307.3b5.8x6.5x0.9x
Sun, 11 Jun 2023US$1.9tUS$2.2tUS$307.3b5.4x6.3x0.9x
Tue, 09 May 2023US$1.9tUS$2.2tUS$309.9b5.5x6.2x0.9x
Thu, 06 Apr 2023US$2.0tUS$2.2tUS$275.3b6.1x7.4x0.9x
Sat, 04 Mar 2023US$2.1tUS$2.2tUS$275.5b6.6x7.4x0.9x
Mon, 30 Jan 2023US$2.2tUS$2.2tUS$258.8b7x8.4x1x
Wed, 28 Dec 2022US$2.1tUS$2.2tUS$254.2b7.1x8.2x1x
Fri, 25 Nov 2022US$2.2tUS$2.1tUS$254.1b7.6x8.7x1x
Sun, 23 Oct 2022US$2.1tUS$1.9tUS$190.1b9.8x11.1x1.1x
Tue, 20 Sep 2022US$1.9tUS$1.9tUS$190.1b9.4x10.2x1x
Price to Earnings Ratio

10.2x


Total Market Cap: US$1.9tTotal 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 11.4x202320242025
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 18.3x which is higher than its 3-year average PE of 11.4x.
  • 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 Market1.69%
Energy1.29%
Oil and Gas1.35%
Integrated Oil and Gas2.34%
Coal and Fuels1.75%
Oil and Gas Storage and Transportation1.10%
Oil and Gas Exploration and Production0.65%
Oil and Gas Refining and Marketing-0.44%
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 14.0x.
    • Analysts are expecting annual earnings growth of 27.6%, which is higher than its past year's earnings decline of 63.9% 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 10.5x.
Forecasted Growth
  • Analysts are most optimistic on the Coal and Fuels industry, expecting annual earnings growth of 41% 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 10% 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 Exxon MobilUS$112.162.7%
+US$12.5b		0.9%PE15.4x
CVX ChevronUS$157.112.2%
+US$7.0b		11.7%PE23.2x
KMI Kinder MorganUS$27.583.7%
+US$2.2b		30.5%PE22.6x
WMB Williams CompaniesUS$58.812.8%
+US$2.0b		30.6%PE29.6x
VG Venture GlobalUS$13.605.9%
+US$1.8b		n/aPE25.6x

Latest News

NEXT
US$6.84
NextDecade
7D
-36.0%
1Y
40.2%
VG
US$13.60
Venture Global
7D
5.9%
1Y
n/a
PSX
US$130.78
Phillips 66
7D
-0.6%
1Y
3.2%
XOM
US$112.16
Exxon Mobil
7D
2.7%
1Y
0.9%
CVX
US$157.11
Chevron
7D
2.2%
1Y
11.7%

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.
WMB
US$58.81
Williams Companies
7D
2.8%
1Y
30.6%

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

Sep 05
Is Williams Companies (NYSE:WMB) Using Too Much Debt?
CRC
US$53.01
California Resources
7D
8.1%
1Y
6.2%

Regulatory Reforms And CCS Projects Will Reshape Energy Amid Uncertainty

With no analyst reasoning provided, California Resources' consensus price target and key valuation metrics such as the discount rate and future P/E remain effectively unchanged, maintaining the fair value estimate at $60.75. What's in the News Total net production for Q2 rose to 137 MBoe/d from 76 MBoe/d a year ago; six-month production also rose to 139 MBoe/d from 76 MBoe/d.
GLNG
US$40.67
Golar LNG
7D
-8.0%
1Y
27.6%

Long-term FLNG Charters Will Fuel Enduring Global LNG Demand

As there was no analyst reasoning provided, it is notable that Golar LNG's key valuation metrics—including the consensus price target of $51.10 and a stable future P/E ratio—remained effectively unchanged, indicating steady sentiment on its fair value. What's in the News Southern Energy S.A. reached Final Investment Decision for chartering Golar’s 3.5MTPA MK II FLNG, resulting in a 20-year fixed net charter hire of $400M per year plus a commodity-linked tariff component, with operations to begin in Argentina during 2028, subject to regulatory approvals.
NFE
US$1.31
New Fortress Energy
7D
-46.5%
1Y
-88.9%

FLNG Asset And Brazilian Expansion Will Strengthen Future Business Prospects

Analysts remain divided on New Fortress Energy, with bears citing execution risks, market headwinds, and regulatory uncertainty, while bulls point to global expansion and expected revenue growth, resulting in an unchanged consensus price target of $4.92. Analyst Commentary Bearish analysts express concerns over New Fortress Energy's near-term growth prospects and execution risk, leading to a reduced price target.
OXY
US$45.67
Occidental Petroleum
7D
-0.5%
1Y
-10.5%
FANG
US$136.88
Diamondback Energy
7D
-1.3%
1Y
-20.6%
TPL
US$937.17
Texas Pacific Land
7D
5.4%
1Y
15.8%
TRGP
US$166.38
Targa Resources
7D
2.5%
1Y
12.3%

Permian And Export Developments Will Drive Long-Term Success

Analysts have modestly raised their price target for Targa Resources to $207.95, citing strong fundamentals, resilient cash flows, and ongoing strength in Permian volumes, though some caution that substantial stock appreciation has fully reflected growth potential. Analyst Commentary Bullish analysts cite Targa’s strong fundamentals, resilient cash flows, and the ability to return capital to shareholders as reasons for increased price targets, especially given expectations for higher volumes and stable producer activity in the Permian.
EQT
US$50.94
EQT
7D
-1.3%
1Y
53.5%

EQT Corporation (NYSE:EQT) Shares Could Be 49% Below Their Intrinsic Value Estimate

Aug 17
EQT Corporation (NYSE:EQT) Shares Could Be 49% Below Their Intrinsic Value Estimate
KMI
US$27.58
Kinder Morgan
7D
3.7%
1Y
30.5%

Kinder Morgan (NYSE:KMI) Takes On Some Risk With Its Use Of Debt

Aug 17
Kinder Morgan (NYSE:KMI) Takes On Some Risk With Its Use Of Debt
COP
US$92.43
ConocoPhillips
7D
-0.6%
1Y
-10.7%