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

U.S. Oil and Gas Industry Analysis

UpdatedNov 24, 2025
DataAggregated Company Financials
Companies348
  • 7D-1.4%
  • 3M-0.5%
  • 1Y-6.5%
  • YTD-1.9%

Over the last 7 days, the Oil and Gas industry has dropped 1.4%, driven by Chevron declining 3.3%. Overall the industry is down 6.5% in 12 months. Earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 25 Nov 2025US$2.1tUS$1.7tUS$116.4b13.1x18x1.2x
Thu, 23 Oct 2025US$2.1tUS$1.7tUS$116.4b12.9x17.7x1.2x
Sat, 20 Sep 2025US$2.1tUS$1.7tUS$115.9b13.2x18.4x1.3x
Mon, 18 Aug 2025US$2.0tUS$1.7tUS$116.2b13.1x17.6x1.2x
Wed, 16 Jul 2025US$2.1tUS$1.7tUS$122.4b12.3x17.5x1.2x
Fri, 13 Jun 2025US$2.1tUS$1.7tUS$122.2b12.6x17.2x1.2x
Sun, 11 May 2025US$2.0tUS$1.7tUS$122.7b11.8x16.3x1.1x
Tue, 08 Apr 2025US$1.9tUS$1.7tUS$130.3b11.1x14.6x1.1x
Thu, 06 Mar 2025US$2.1tUS$1.7tUS$130.0b12.3x16x1.2x
Sat, 01 Feb 2025US$2.2tUS$1.8tUS$143.9b12.2x15.4x1.3x
Mon, 30 Dec 2024US$2.0tUS$1.8tUS$144.8b10.9x14.1x1.2x
Wed, 27 Nov 2024US$2.2tUS$1.8tUS$145.1b11.6x15.3x1.3x
Fri, 25 Oct 2024US$2.1tUS$1.8tUS$158.7b10.5x13.4x1.2x
Sun, 22 Sep 2024US$2.1tUS$1.8tUS$157.8b10x13.2x1.2x
Tue, 20 Aug 2024US$2.1tUS$1.8tUS$157.8b10.5x13.3x1.2x
Thu, 18 Jul 2024US$2.1tUS$1.8tUS$162.1b11.3x12.9x1.2x
Sat, 15 Jun 2024US$2.0tUS$1.8tUS$162.2b10.4x12.3x1.1x
Mon, 13 May 2024US$2.1tUS$1.8tUS$161.3b10.7x13x1.2x
Wed, 10 Apr 2024US$2.2tUS$1.8tUS$192.6b10x11.6x1.2x
Fri, 08 Mar 2024US$2.0tUS$1.8tUS$193.7b8.5x10.5x1.1x
Sun, 04 Feb 2024US$2.0tUS$1.9tUS$216.2b7.8x9.3x1.1x
Tue, 02 Jan 2024US$2.0tUS$1.9tUS$230.1b7.7x8.8x1.1x
Thu, 30 Nov 2023US$2.0tUS$1.9tUS$230.4b7.7x8.8x1.1x
Sat, 28 Oct 2023US$2.0tUS$1.9tUS$240.0b6.6x8.4x1.1x
Mon, 25 Sep 2023US$2.1tUS$2.0tUS$261.4b6.4x8.1x1x
Wed, 23 Aug 2023US$2.1tUS$2.0tUS$261.2b6.6x7.9x1x
Fri, 21 Jul 2023US$2.0tUS$2.2tUS$307.2b5.8x6.5x0.9x
Sun, 18 Jun 2023US$1.9tUS$2.2tUS$307.3b5.4x6.3x0.9x
Tue, 16 May 2023US$1.9tUS$2.2tUS$307.5b5x6.2x0.9x
Thu, 13 Apr 2023US$2.0tUS$2.2tUS$273.8b6.2x7.5x0.9x
Sat, 11 Mar 2023US$1.9tUS$2.2tUS$274.9b5.9x7.1x0.9x
Mon, 06 Feb 2023US$2.0tUS$2.2tUS$267.1b6.6x7.7x0.9x
Wed, 04 Jan 2023US$2.0tUS$2.2tUS$254.2b6.7x7.9x0.9x
Fri, 02 Dec 2022US$2.2tUS$2.1tUS$254.1b7.5x8.5x1x
Price to Earnings Ratio

8.5x


Total Market Cap: US$2.2tTotal Earnings: US$254.1bTotal Revenue: US$2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Industry Price to Earnings3Y Average 11.9x202320242025
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 18.0x which is higher than its 3-year average PE of 11.9x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 23% per year over the last three years,
  • Revenues have also declined 7.5% 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-1.27%
Oil and Gas-1.42%
Oil and Gas Storage and Transportation-0.46%
Coal and Fuels-0.64%
Oil and Gas Exploration and Production-0.94%
Integrated Oil and Gas-2.08%
Oil and Gas Refining and Marketing-2.48%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 12.9x.
    • Analysts are expecting annual earnings growth of 59.5%, which is higher than its past year's earnings decline of 15.3% 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 10.9x.
Forecasted Growth
  • Analysts are most optimistic on the Coal and Fuels industry, expecting annual earnings growth of 59% over the next 5 years.
  • This is better than its past earnings decline of 15% per year.
  • In contrast, the Integrated Oil and Gas industry is expected to see its earnings grow by 9.5% 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
OKE ONEOKUS$70.232.0%
+US$862.0m		-37.0%PE13.2x
DVN Devon EnergyUS$35.932.5%
+US$539.5m		-6.1%PE8.3x
UEC Uranium EnergyUS$12.097.8%
+US$420.3m		49.6%PS87.4x
OVV OvintivUS$39.583.6%
+US$349.5m		-13.5%PE42.5x
FANG Diamondback EnergyUS$147.640.9%
+US$344.7m		-17.8%PE10.1x

Latest News

FANG
US$147.64
Diamondback Energy
7D
0.9%
1Y
-17.8%

FANG: Operational Strength And Asset Sales Are Expected To Drive Shareholder Returns

Diamondback Energy’s analyst price target has seen a minimal change, rising slightly from approximately $178.31 to $178.43 per share as analysts factor in updated sector models and company performance following recent earnings. Analyst Commentary Recent research commentary reflects a blend of optimism and caution regarding Diamondback Energy’s near-term outlook.
OKE
US$70.23
ONEOK
7D
2.0%
1Y
-37.0%

OKE: Upcoming Cash Returns And Fed Policy Changes Will Drive Share Price Momentum

The average analyst price target for ONEOK has been reduced modestly. Analysts cite updated assessments of sector growth, evolving company multiples, and a renewed investor preference for cash returns as key factors behind their revisions.
PSX
US$133.20
Phillips 66
7D
-2.5%
1Y
-0.06%
MUR
US$31.15
Murphy Oil
7D
5.6%
1Y
-5.9%
AR
US$34.56
Antero Resources
7D
2.7%
1Y
4.0%

AR: Share Buybacks Will Drive Improved Returns Ahead

Analysts have modestly increased their price target for Antero Resources from $42.00 to approximately $42.10. They cite minor adjustments to profit margin forecasts and discount rates in their updated models.
VG
US$7.04
Venture Global
7D
-10.9%
1Y
n/a
PR
US$13.98
Permian Resources
7D
2.2%
1Y
-10.8%
CVX
US$149.75
Chevron
7D
-3.3%
1Y
-6.6%

CVX: Dividend Strength And Asset Synergies Will Drive Shareholder Returns

Chevron's analyst price target has increased modestly to $172.80 from $172.04. Analysts cite strong Q3 financial performance, improving profit margins, and confidence in future cash flow and dividend growth as key factors for the upward revision.
XOM
US$115.97
Exxon Mobil
7D
-1.5%
1Y
-3.3%

XOM: Free Cash Flow Strength And Cost Savings Will Offset Industry Volatility

Exxon Mobil’s analyst price target has increased from $141 to $144 per share, with analysts citing the company’s resilient free cash flow and ongoing structural cost savings as key drivers for the modest upgrade. Analyst Commentary Recent research updates from Street analysts reflect a mix of optimism around Exxon Mobil’s positioning and growth prospects, as well as some reservations regarding the near-term outlook for the energy sector.
COP
US$87.56
ConocoPhillips
7D
-1.3%
1Y
-17.5%

Earnings Troubles May Signal Larger Issues for ConocoPhillips (NYSE:COP) Shareholders

Nov 13
Earnings Troubles May Signal Larger Issues for ConocoPhillips (NYSE:COP) Shareholders
EOG
US$106.59
EOG Resources
7D
-2.6%
1Y
-19.2%

EOG: Secular Gas Demand And Efficiency Gains Will Drive Continued Outperformance

Analysts have modestly adjusted their price target for EOG Resources, raising it by $0.07 to $137.20 per share. This reflects continued expectations for improving profit margins and revenue growth, despite cautious sentiment around capital efficiency and commodity pricing.
OVV
US$39.58
Ovintiv
7D
3.6%
1Y
-13.5%

Investors Can Find Comfort In Ovintiv's (NYSE:OVV) Earnings Quality

Nov 11
Investors Can Find Comfort In Ovintiv's (NYSE:OVV) Earnings Quality
MPC
US$190.18
Marathon Petroleum
7D
-3.0%
1Y
21.5%

MPC: Capital Returns And Midstream Strength Will Balance Margin Volatility Ahead

Marathon Petroleum’s analyst price target rose slightly from $196.11 to $197.50, as analysts cite ongoing capital discipline and midstream strength, despite soft spots in recent results. Analyst Commentary Recent analyst reports on Marathon Petroleum reflect a mix of optimism and caution, as perspectives diverge on the company’s valuation and future prospects.
DVN
US$35.93
Devon Energy
7D
2.5%
1Y
-6.1%
UEC
US$12.09
Uranium Energy
7D
7.8%
1Y
49.6%
LNG
US$204.58
Cheniere Energy
7D
-4.9%
1Y
-6.3%