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U.S. Oil and Gas Industry Analysis

UpdatedAug 09, 2026
DataAggregated Company Financials
Companies348
  • 7D-3.5%
  • 3M1.6%
  • 1Y30.7%
  • YTD24.7%

Over the last 7 days, the Oil and Gas industry has dropped 3.5%, driven by a pullback from Chevron of 5.2%. On the other hand Uranium Energy is actually up 17%. This takes the industry's 12 month performance to a gain of 31%. Looking forward, earnings are forecast to grow by 4.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 09 Aug 2026US$2.6tUS$1.9tUS$161.8b12.9x16.2x1.4x
Tue, 07 Jul 2026US$2.5tUS$1.7tUS$116.0b13.1x21.1x1.4x
Thu, 04 Jun 2026US$2.6tUS$1.7tUS$116.1b13.8x22.4x1.5x
Sat, 02 May 2026US$2.7tUS$1.7tUS$128.7b14.6x21.1x1.6x
Mon, 30 Mar 2026US$2.9tUS$1.7tUS$122.4b16.8x23.6x1.7x
Wed, 25 Feb 2026US$2.5tUS$1.7tUS$120.4b14.2x20.8x1.5x
Fri, 23 Jan 2026US$2.3tUS$1.7tUS$117.8b13.4x19.2x1.3x
Sun, 21 Dec 2025US$2.1tUS$1.7tUS$117.8b12.8x17.5x1.2x
Tue, 18 Nov 2025US$2.2tUS$1.7tUS$116.7b13.6x18.4x1.3x
Thu, 16 Oct 2025US$2.1tUS$1.7tUS$115.9b13.1x17.8x1.2x
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
Price to Earnings Ratio

7.9x


Total Market Cap: US$2.1tTotal Earnings: US$261.3bTotal Revenue: US$2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Industry Price to Earnings3Y Average 15.1x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Oil and Gas industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 15.1x.
  • 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 15% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the U.S. Energy industry?

US Market4.18%
Energy-3.06%
Oil and Gas-3.49%
Coal and Fuels9.56%
Oil and Gas Storage and Transportation-2.46%
Integrated Oil and Gas-2.88%
Oil and Gas Exploration and Production-4.86%
Oil and Gas Refining and Marketing-5.89%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 48.0x.
    • Analysts are expecting annual earnings growth of 52.5%, which is higher than its past year's earnings decline of 26.1% per year.
  • Investors are most pessimistic about the Oil and Gas Refining and Marketing industry, which is trading below its 3-year average of 22.6x.
Forecasted Growth
  • Analysts are most optimistic on the Coal and Fuels industry, expecting annual earnings growth of 53% over the next 5 years.
  • This is better than its past earnings decline of 26% per year.
  • In contrast, the Oil and Gas Refining and Marketing industry is expected to see its earnings decline by 15% 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
UEC Uranium EnergyUS$11.2617.3%
+US$821.5m		10.6%PS275.9x
CNR Core Natural ResourcesUS$89.6012.2%
+US$422.9m		17.6%PE44.4x
LEU Centrus EnergyUS$191.378.2%
+US$337.7m		-14.2%PE78.7x
BTU Peabody EnergyUS$23.8111.7%
+US$305.7m		37.9%PS0.7x
KNTK Kinetik HoldingsUS$49.18-2.7%
US$158.2m		19.1%PE21.2x

Latest News

COP
US$117.61
ConocoPhillips
7D
-2.4%
1Y
25.2%
Analysis Article • 5h

ConocoPhillips Just Beat EPS By 6.1%: Here's What Analysts Think Will Happen Next

Last week, you might have seen that ConocoPhillips ( NYSE:COP ) released its quarterly result to the market. The early...
CNR
US$89.60
Core Natural Resources
7D
12.2%
1Y
17.6%
TPL
US$340.65
Texas Pacific Land
7D
-15.4%
1Y
18.5%
CVX
US$186.56
Chevron
7D
-5.2%
1Y
20.4%
BTU
US$23.81
Peabody Energy
7D
11.7%
1Y
37.9%
LEU
US$191.37
Centrus Energy
7D
8.2%
1Y
-14.2%
Narrative Update • Aug 07

LEU: Domestic Enrichment Capacity Build Out Will Support Long Term Upside

For Centrus Energy, the updated analyst price target framework points to a lower fair value of $257.47, down from $269.38, as analysts factor in higher perceived risk, shifting revenue and margin assumptions, and a materially higher future P/E multiple, highlighted across recent target changes ranging from $170 to $337. Analyst Commentary Street research on Centrus Energy reflects a split between investors focused on long term growth in enrichment capacity and those more focused on nearer term execution risks and policy uncertainty.
KNTK
US$49.18
Kinetik Holdings
7D
-2.7%
1Y
19.1%
EOG
US$134.74
EOG Resources
7D
-9.4%
1Y
15.9%
XOM
US$153.04
ExxonMobil Holdings
7D
-1.5%
1Y
43.3%
VLO
US$298.31
Valero Energy
7D
-4.7%
1Y
123.8%
Narrative Update • Aug 07

VLO: Elevated Refining Margins And Cracks Will Drive Future Downside Risk

Analysts have raised their fair value estimate for Valero Energy from about $202.68 to roughly $223.25 per share, citing higher price targets driven by stronger cash generation, tight global refining markets, and expectations for resilient refining margins as reflected in recent research updates. Analyst Commentary Recent Street research on Valero Energy highlights a wide range of price targets along with differing opinions on the stock's risk and reward profile.
MPC
US$298.20
Marathon Petroleum
7D
-5.8%
1Y
85.4%
Seeking Alpha • Aug 07

Marathon Petroleum: Why Stock Plummeted After A Massive Beat

Summary Marathon Petroleum (MPC) delivered massive earnings, driven by exceptional crack spreads and global refining disruptions, despite a subsequent stock price decline. MPC management expects tight refining markets and elevated spreads to persist through 2027, supported by ongoing geopolitical conflicts and refinery outages. Q2 results included $8.5B EBITDA, $6.6B cash from operations, $2.8B shareholder returns, and 94% utilization, with Gulf Coast and West Coast regions achieving $27/barrel adjusted EBITDA. Renewables at Martinez showed a dramatic margin turnaround; management guides for 2.8M bpd throughput and $300M in upgrades to enhance crude flexibility. Read the full article on Seeking Alpha
FANG
US$188.04
Diamondback Energy
7D
-7.3%
1Y
32.4%
Narrative Update • Aug 06

FANG: Production Milestone And Buybacks Will Balance Tighter Oil And Macro Risks

Diamondback Energy's analyst fair value estimate has moved from $192.00 to $200.00 as analysts factor in updated Q2 earnings models, modestly higher profit margin expectations, and a slightly lower future P/E assumption, while also acknowledging softer revenue growth estimates. Analyst Commentary Recent Street research around Diamondback Energy points to generally constructive views on the business, with several firms updating price targets following Q2 results and refreshed oil price assumptions.
GLNG
US$50.43
Golar LNG
7D
2.6%
1Y
24.7%
UEC
US$11.26
Uranium Energy
7D
17.3%
1Y
10.6%
AREC
US$2.74
American Resources
7D
53.1%
1Y
70.2%
PBT
US$32.01
Permian Basin Royalty Trust
7D
8.1%
1Y
96.7%