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U.S. Oil and Gas Industry Analysis

UpdatedDec 10, 2025
DataAggregated Company Financials
Companies353
  • 7D-0.1%
  • 3M0.8%
  • 1Y-0.01%
  • YTD0.1%

Over the last 7 days, the Oil and Gas industry has remained flat, although notably Cheniere Energy declined by 7.5%. In line with that, the industry has also been flat over the past 12 months. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 11 Dec 2025US$2.1tUS$1.7tUS$116.2b13.5x18.3x1.3x
Sat, 08 Nov 2025US$2.1tUS$1.7tUS$117.0b13.5x17.6x1.2x
Mon, 06 Oct 2025US$2.2tUS$1.7tUS$115.9b13.4x19.2x1.3x
Wed, 03 Sep 2025US$2.1tUS$1.7tUS$116.3b13.3x18.4x1.3x
Fri, 01 Aug 2025US$2.1tUS$1.7tUS$122.6b12.6x17.4x1.2x
Sun, 29 Jun 2025US$2.1tUS$1.7tUS$122.2b12.1x16.9x1.2x
Tue, 27 May 2025US$2.0tUS$1.7tUS$122.0b11.7x16.3x1.1x
Thu, 24 Apr 2025US$2.0tUS$1.7tUS$130.5b11.4x15.1x1.1x
Sat, 22 Mar 2025US$2.2tUS$1.7tUS$130.5b13.1x17x1.3x
Mon, 17 Feb 2025US$2.2tUS$1.7tUS$141.0b11.6x15.4x1.2x
Wed, 15 Jan 2025US$2.2tUS$1.8tUS$144.9b11.8x15.2x1.2x
Fri, 13 Dec 2024US$2.1tUS$1.8tUS$145.0b11.2x14.8x1.2x
Sun, 10 Nov 2024US$2.2tUS$1.8tUS$146.9b10.9x15x1.2x
Tue, 08 Oct 2024US$2.2tUS$1.8tUS$160.9b10.9x13.6x1.2x
Thu, 05 Sep 2024US$2.1tUS$1.8tUS$157.8b9.8x13.1x1.1x
Sat, 03 Aug 2024US$2.0tUS$1.8tUS$157.6b10.4x12.9x1.1x
Mon, 01 Jul 2024US$2.1tUS$1.8tUS$162.2b10.9x12.7x1.2x
Wed, 29 May 2024US$2.0tUS$1.8tUS$160.9b10.6x12.7x1.2x
Fri, 26 Apr 2024US$2.2tUS$1.8tUS$189.2b9.5x11.8x1.2x
Sun, 24 Mar 2024US$2.1tUS$1.8tUS$193.2b9x11x1.2x
Tue, 20 Feb 2024US$2.0tUS$1.8tUS$202.9b8.4x9.7x1.1x
Thu, 18 Jan 2024US$1.9tUS$1.9tUS$230.1b7.7x8.5x1x
Sat, 16 Dec 2023US$2.0tUS$1.9tUS$230.1b7.8x8.7x1.1x
Mon, 13 Nov 2023US$2.0tUS$1.9tUS$230.6b7.7x8.7x1x
Wed, 11 Oct 2023US$2.1tUS$2.0tUS$261.6b6.5x8.1x1x
Fri, 08 Sep 2023US$2.1tUS$2.0tUS$261.4b6.8x8.1x1.1x
Sun, 06 Aug 2023US$2.0tUS$2.0tUS$263.3b6.9x7.8x1x
Tue, 04 Jul 2023US$2.0tUS$2.2tUS$307.3b5.5x6.4x0.9x
Thu, 01 Jun 2023US$1.9tUS$2.2tUS$307.2b5.1x6x0.8x
Sat, 29 Apr 2023US$2.0tUS$2.2tUS$286.2b5.8x7x0.9x
Mon, 27 Mar 2023US$1.9tUS$2.2tUS$275.3b5.6x6.8x0.8x
Wed, 22 Feb 2023US$2.0tUS$2.2tUS$269.7b6.5x7.4x0.9x
Fri, 20 Jan 2023US$2.1tUS$2.2tUS$254.3b7x8.3x1x
Sun, 18 Dec 2022US$2.0tUS$2.2tUS$254.2b7.2x7.9x0.9x
Price to Earnings Ratio

7.9x


Total Market Cap: US$2.0tTotal Earnings: US$254.2bTotal Revenue: US$2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Industry Price to Earnings3Y Average 12.1x202320242025
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 12.1x.
  • 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 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 Market0.071%
Energy-0.12%
Oil and Gas-0.12%
Coal and Fuels3.51%
Oil and Gas Storage and Transportation0.086%
Oil and Gas Exploration and Production0.053%
Integrated Oil and Gas-0.30%
Oil and Gas Refining and Marketing-0.81%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 14.2x.
    • Analysts are expecting annual earnings growth of 60.4%, 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 11.0x.
Forecasted Growth
  • Analysts are most optimistic on the Coal and Fuels industry, expecting annual earnings growth of 60% over the next 5 years.
  • This is better than its past earnings decline of 15% per year.
  • In contrast, the Oil and Gas Storage and Transportation 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
XOM Exxon MobilUS$119.541.5%
+US$7.3b		6.8%PE16.8x
COP ConocoPhillipsUS$96.805.4%
+US$6.2b		-5.3%PE13.6x
TRGP Targa ResourcesUS$183.484.4%
+US$1.7b		-1.5%PE24.4x
PSX Phillips 66US$143.832.8%
+US$1.6b		14.8%PE38.7x
MPC Marathon PetroleumUS$191.301.0%
+US$562.1m		25.9%PE20x

Latest News

KMI
US$26.60
Kinder Morgan
7D
-2.1%
1Y
-1.3%
XOM
US$119.54
Exxon Mobil
7D
1.5%
1Y
6.8%
FANG
US$160.28
Diamondback Energy
7D
1.2%
1Y
-2.2%
CRK
US$23.11
Comstock Resources
7D
-13.7%
1Y
36.8%

CRK: Secular Gas Demand Will Not Offset Weaker Returns Outlook

Analysts have nudged their fair value estimate for Comstock Resources higher, lifting the price target by nearly $1 to reflect slightly lower discount rates, stronger expected revenue growth and higher future valuation multiples, even as near term Street targets such as the recent move to $9 continue to embed caution around margins and capital efficiency. Analyst Commentary Street research remains divided on the appropriate risk premium and growth trajectory for Comstock Resources, with recent target changes highlighting both the potential upside from secular gas demand and the execution risks tied to capital deployment.
PSX
US$143.83
Phillips 66
7D
2.8%
1Y
14.8%

PSX: Future Cash Flows Will Reflect Resilient Margins And Capital Returns Balancing Risks

Phillips 66's fair value estimate has edged up by about $2 to $149.35, as analysts factor in a wave of higher price targets across the Street. This shift is supported by expectations for resilient refining margins, supply tightness, and improved profitability, despite more cautious revenue growth assumptions.
MPC
US$191.30
Marathon Petroleum
7D
1.0%
1Y
25.9%

MPC: Capital Returns And Midstream Investments Will Support Margins In A Tighter Market

Analysts have nudged their average price target for Marathon Petroleum slightly higher, with updated fair value estimates moving from about $199.94 to $201.33 per share. Modestly improved margin expectations and a still supportive, though finely balanced, refining backdrop underpin a more constructive long term outlook.
VG
US$6.07
Venture Global
7D
-11.9%
1Y
n/a
DVN
US$38.41
Devon Energy
7D
1.9%
1Y
10.5%
OKE
US$73.79
ONEOK
7D
-1.5%
1Y
-29.3%

OKE: Future Cash Returns Will Drive Multiple Stabilization And Share Price Upside

Analysts have trimmed their consolidated price target on ONEOK by a few dollars per share, reflecting slightly lower fair value assumptions amid caution around near term multiple compression and the need to see clearer synergy capture and cash return discipline before re rating the stock higher. Analyst Commentary Recent Street research reflects a more nuanced stance on ONEOK, with updated price targets incorporating both the benefits of recent acquisitions and the risks around execution, capital allocation, and valuation normalization versus peers.
WMB
US$60.50
Williams Companies
7D
-1.7%
1Y
9.2%
TRGP
US$183.48
Targa Resources
7D
4.4%
1Y
-1.5%
EQT
US$58.52
EQT
7D
-4.3%
1Y
28.4%

EQT: Shifting U.S. Gas Demand and LNG Agreements Will Shape Outlook

The analyst price target for EQT was modestly increased from $63.70 to $64.00. This change reflects analysts’ confidence in the company’s strategic positioning and the improving outlook for U.S. natural gas demand.
EXE
US$116.69
Expand Energy
7D
-5.0%
1Y
17.2%

EXE: Higher Production Outlook and Share Buyback Are Expected To Sustain Fair Value

Analysts have slightly increased their price target for Expand Energy from $130.22 to $130.56. They cite small but notable adjustments to profit margin and forward P/E estimates as the primary drivers for the update.
CHRD
US$100.97
Chord Energy
7D
5.3%
1Y
-15.5%

CHRD: Ongoing Bakken Consolidation Will Strengthen Returns And Long-Term Cash Flow

Chord Energy's analyst price target has been revised downward from $128 to $123 per share, as analysts incorporate updated guidance for 2025, preliminary 2026 commentary, and ongoing sector preferences that favor gas over oil stocks. Analyst Commentary Recent analyst coverage of Chord Energy highlights both strengths and potential challenges for the company.
COP
US$96.80
ConocoPhillips
7D
5.4%
1Y
-5.3%

COP: Free Cash Flow Will Outperform as Workforce Reduction Improves Efficiency

ConocoPhillips' analyst price target saw a modest decrease of $0.63, as analysts cited updated company outlooks for 2025 and 2026 as well as evolving sector dynamics in their revised forecasts. Analyst Commentary Recent Street research on ConocoPhillips presents a blend of optimism for the company's prospects alongside some caution about sector headwinds and near-term execution challenges.
LNG
US$192.91
Cheniere Energy
7D
-7.5%
1Y
-10.4%