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U.S. Oil and Gas Industry Analysis

UpdatedJul 30, 2026
DataAggregated Company Financials
Companies343
  • 7D-1.2%
  • 3M-0.3%
  • 1Y29.2%
  • YTD27.5%

Over the last 7 days, the Oil and Gas industry has dropped 1.2%, driven by a pullback from Williams Companies of 5.9%. In the past year, the industry has gained 29%. As for the next few years, earnings are expected to grow by 10% 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, 30 Jul 2026US$2.6tUS$1.7tUS$116.3b13.9x22.7x1.5x
Sat, 27 Jun 2026US$2.5tUS$1.7tUS$116.0b12.9x21.3x1.4x
Mon, 25 May 2026US$2.7tUS$1.7tUS$115.9b14.6x23.1x1.5x
Wed, 22 Apr 2026US$2.5tUS$1.7tUS$123.7b15.1x20.5x1.5x
Fri, 20 Mar 2026US$2.7tUS$1.7tUS$122.4b15.7x22x1.6x
Sun, 15 Feb 2026US$2.5tUS$1.7tUS$121.4b14.5x20.5x1.5x
Tue, 13 Jan 2026US$2.2tUS$1.7tUS$117.7b13.4x18.4x1.3x
Thu, 11 Dec 2025US$2.1tUS$1.7tUS$116.2b13.6x18.3x1.3x
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
Price to Earnings Ratio

7.8x


Total Market Cap: US$2.0tTotal Earnings: US$263.3bTotal 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 22.7x 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 1.5x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 24% per year over the last three years,
  • Revenues have also declined 4.9% 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 Market-2.63%
Energy-1.46%
Oil and Gas-1.21%
Integrated Oil and Gas0.54%
Oil and Gas Refining and Marketing-2.22%
Oil and Gas Storage and Transportation-2.23%
Oil and Gas Exploration and Production-2.32%
Coal and Fuels-7.74%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 43.4x.
    • Analysts are expecting annual earnings growth of 52.3%, which is higher than its past year's earnings decline of 27.4% per year.
  • Investors are most pessimistic about the Oil and Gas Storage and Transportation industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 15.2x.
Forecasted Growth
  • Analysts are most optimistic on the Coal and Fuels industry, expecting annual earnings growth of 52% 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 2.9% 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
XOM ExxonMobil HoldingsUS$156.751.5%
+US$9.5b		40.1%PE25.7x
EOG EOG ResourcesUS$145.941.3%
+US$1.0b		20.4%PE14.1x
INSW International SeawaysUS$94.556.3%
+US$279.2m		130.5%PE8.6x
RRC Range ResourcesUS$39.913.0%
+US$271.1m		8.8%PE10.9x
FRO FrontlineUS$39.133.1%
+US$260.5m		108.8%PE9.6x

Latest News

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Phillips 66
7D
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1Y
66.2%
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Phillips 66: A High-Conviction Structural Entry Before Earnings

Summary Phillips 66 has completed a multi-year cup-and-handle breakout, targeting a substantial upside to $308.12. Dual-pattern technical confirmation and strong RSI momentum support the ongoing bullish run, with any short-term cooling offering attractive entry points. Denominated in hard assets, the PSX-to-silver ratio remains well below historical peaks, highlighting significant value insulation relative to inflated USD multiples. Technical fractal patterns suggest the PSX-to-silver ratio is poised to exceed the current structural ceiling of $8.44/oz., reinforcing the multi-year structural alpha opportunity. Read the full article on Seeking Alpha
APA
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APA
7D
1.4%
1Y
88.4%
Narrative Update • Jul 29

APA: Weaker Oil Price Outlook Will Pressure Returns Despite Project Execution

APA Corp.'s updated analyst price target edges lower as the fair value estimate shifts from $32.00 to $31.00, with analysts pointing to softer modeled revenue growth, a reduced profit margin outlook, and a slightly higher future P/E assumption as key drivers of the change. Analyst Commentary Recent research on APA Corp.
RRC
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Range Resources
7D
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1Y
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Summary World Kinet Corporation (WKC) has benefited from war-driven fuel supply turmoil, expanding margins and delivering record earnings across aviation and marine segments. WKC raised annual EPS guidance by 43% since pre-war estimates, yet management maintains a conservative outlook, avoiding extrapolation of current elevated margins. Despite a 60% stock price surge, WKC trades at 6.6x normalized earnings, supporting a dividend increase, and continues steady share buybacks, justifying a HOLD rating. Free cash flow has turned negative in 2026 due to working capital needs and higher inventory costs, despite a projected 35% y-o-y EBITDA gain. Read the full article on Seeking Alpha
CVX
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7D
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1Y
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INSW
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7D
6.3%
1Y
130.5%
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International Seaways: The Ship Hasn't Sailed--There's Still Time To Get On Board

Summary International Seaways (INSW) is rated Buy, with a dividend discount model equity value of $106.19 per share, 15.1% above its current price. INSW's Q1 FY2026 saw TCE revenue up 77.9% YoY and net income up 477.3%, driven by geopolitical disruptions elevating spot charter rates. 82% of INSW’s TCE revenue derives from spot charters, positioning it to capitalize on ongoing supply shocks from the Iran war and Houthis' embargo of Saudi Arabian ports. INSW’s improving liquidity, declining leverage, and robust payout history support the investment case, with near-term catalysts from sustained high spot rates. Read the full article on Seeking Alpha
XOM
US$156.75
ExxonMobil Holdings
7D
1.5%
1Y
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VG
US$13.05
Venture Global
7D
-11.9%
1Y
-15.0%
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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).
VLO
US$301.32
Valero Energy
7D
-3.1%
1Y
116.2%
Narrative Update • Jul 24

VLO: Elevated Refining Margins And Crack Spreads Will Drive Future Downside Risk

Valero Energy's analyst price target has been revised higher to $202.68 from $170.00, as analysts factor in tighter global refining conditions, stronger projected refining margins supported by higher strip cracks, and a generally constructive sector outlook reflected in a series of recent target hikes across major research firms. Analyst Commentary Street research on Valero Energy has become more constructive overall, with several firms lifting price targets on the back of tighter refining markets, higher strip cracks and updated commodity assumptions.
WMB
US$70.13
Williams Companies
7D
-5.9%
1Y
18.4%
PARR
US$83.07
Par Pacific Holdings
7D
4.6%
1Y
159.8%
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PARR: Tight Refining Margins And Exemptions Will Shape Measured Future Returns

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MPC
US$308.72
Marathon Petroleum
7D
-2.2%
1Y
80.8%
Narrative Update • Jul 22

MPC: Tighter Cracks And Heavy Buybacks Will Drive Balanced Future Returns

Analysts have raised the Marathon Petroleum fair value estimate from $271.59 to $293.12 as higher Street price targets, tighter refining markets, and expectations for stronger margins and shareholder returns are reflected in updated revenue growth and P/E assumptions. Analyst Commentary Recent Street research on Marathon Petroleum points to a generally constructive backdrop for the stock, with a cluster of higher price targets grounded in tighter refining markets, stronger crack spreads, and expectations for solid execution on shareholder returns.
TPL
US$389.41
Texas Pacific Land
7D
-10.1%
1Y
18.5%
FRO
US$39.13
Frontline
7D
3.1%
1Y
108.8%
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TRGP
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Targa Resources
7D
-7.0%
1Y
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EOG
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EOG Resources
7D
1.3%
1Y
20.4%