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U.S. Oil and Gas Industry Analysis

UpdatedAug 11, 2026
DataAggregated Company Financials
Companies348
  • 7D1.8%
  • 3M4.9%
  • 1Y36.9%
  • YTD29.7%

The Oil and Gas industry is up 1.8% in the last week, with ExxonMobil Holdings up 3.1%. In the same time, Texas Pacific Land was down 14%. This means that the industry has gained 37% over the past year. As for the next few years, earnings are expected to grow by 4.0% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 11 Aug 2026US$2.6tUS$2.0tUS$160.9b12.7x16.3x1.3x
Thu, 09 Jul 2026US$2.5tUS$1.7tUS$116.0b13.6x21.7x1.5x
Sat, 06 Jun 2026US$2.6tUS$1.7tUS$116.1b13.8x22.7x1.5x
Mon, 04 May 2026US$2.7tUS$1.7tUS$128.7b14.6x20.8x1.6x
Wed, 01 Apr 2026US$2.9tUS$1.7tUS$122.4b16.3x23.4x1.7x
Fri, 27 Feb 2026US$2.5tUS$1.7tUS$121.9b14.1x20.4x1.5x
Sun, 25 Jan 2026US$2.3tUS$1.7tUS$118.1b13.6x19.3x1.3x
Tue, 23 Dec 2025US$2.1tUS$1.7tUS$117.8b12.9x17.5x1.2x
Thu, 20 Nov 2025US$2.1tUS$1.7tUS$116.7b13.3x18.2x1.3x
Sat, 18 Oct 2025US$2.0tUS$1.7tUS$115.9b12.6x17.6x1.2x
Mon, 15 Sep 2025US$2.1tUS$1.7tUS$115.8b12.8x18.2x1.2x
Wed, 13 Aug 2025US$2.0tUS$1.7tUS$115.9b13x17.5x1.2x
Fri, 11 Jul 2025US$2.1tUS$1.7tUS$122.4b12.4x17.5x1.2x
Sun, 08 Jun 2025US$2.0tUS$1.7tUS$122.2b12.1x16.6x1.2x
Tue, 06 May 2025US$2.0tUS$1.7tUS$123.4b11.5x16.1x1.1x
Thu, 03 Apr 2025US$2.2tUS$1.7tUS$130.3b12.7x17.2x1.3x
Sat, 01 Mar 2025US$2.1tUS$1.7tUS$131.0b12.3x16.3x1.2x
Mon, 27 Jan 2025US$2.2tUS$1.8tUS$145.7b12x15.3x1.3x
Wed, 25 Dec 2024US$2.0tUS$1.8tUS$144.8b10.9x14.1x1.2x
Fri, 22 Nov 2024US$2.3tUS$1.8tUS$146.4b11.8x15.4x1.3x
Sun, 20 Oct 2024US$2.1tUS$1.8tUS$161.1b10.7x13.3x1.2x
Tue, 17 Sep 2024US$2.0tUS$1.8tUS$157.8b10.2x12.7x1.1x
Thu, 15 Aug 2024US$2.1tUS$1.8tUS$157.7b10.2x13.1x1.1x
Sat, 13 Jul 2024US$2.1tUS$1.8tUS$162.2b11.1x12.7x1.2x
Mon, 10 Jun 2024US$2.0tUS$1.8tUS$162.4b10.8x12.4x1.1x
Wed, 08 May 2024US$2.1tUS$1.8tUS$162.8b9.9x12.8x1.2x
Fri, 05 Apr 2024US$2.2tUS$1.8tUS$192.5b10.2x11.6x1.2x
Sun, 03 Mar 2024US$2.0tUS$1.8tUS$194.8b8.4x10.3x1.1x
Tue, 30 Jan 2024US$2.0tUS$1.9tUS$227.5b7.8x8.9x1.1x
Thu, 28 Dec 2023US$2.0tUS$1.9tUS$230.1b7.8x8.9x1.1x
Sat, 25 Nov 2023US$2.0tUS$1.9tUS$230.4b8x8.8x1.1x
Mon, 23 Oct 2023US$2.1tUS$2.0tUS$261.5b6.5x8.2x1.1x
Wed, 20 Sep 2023US$2.1tUS$2.0tUS$261.4b6.6x8.2x1.1x
Fri, 18 Aug 2023US$2.0tUS$2.0tUS$261.3b6.7x7.8x1x
Price to Earnings Ratio

7.8x


Total Market Cap: US$2.0tTotal 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 industry is trading close to its 3-year average PS ratio of 1.2x.
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 Market2.22%
Energy2.24%
Oil and Gas1.75%
Coal and Fuels10.40%
Integrated Oil and Gas2.43%
Oil and Gas Refining and Marketing2.13%
Oil and Gas Exploration and Production1.25%
Oil and Gas Storage and Transportation0.69%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 48.3x.
    • Analysts are expecting annual earnings growth of 52.9%, 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
XOM ExxonMobil HoldingsUS$159.793.1%
+US$19.4b		51.0%PE20.1x
OXY Occidental PetroleumUS$58.655.7%
+US$3.5b		34.2%PE17.2x
PSX Phillips 66US$215.524.5%
+US$3.3b		82.1%PE12.1x
CVX ChevronUS$194.910.9%
+US$3.3b		27.0%PE18.6x
VG Venture GlobalUS$14.269.0%
+US$2.9b		18.1%PE15.1x

Latest News

WMB
US$71.85
Williams Companies
7D
2.0%
1Y
23.8%
COP
US$123.03
ConocoPhillips
7D
3.2%
1Y
31.5%
Seeking Alpha • 19h

ConocoPhillips: A Revised Outlook Following Q2 Earnings (Rating Upgrade)

Summary ConocoPhillips is upgraded to BUY, projecting high-teen CAGR through 2029, driven by robust free cash flow and favorable commodity trends. Q2 FCF surged 75% over Q1, with YTD realized prices aligning with five-year historical averages, supporting the 'higher for longer' oil thesis. Permian natural gas headwinds are expected to ease as new pipelines come online in 2H 2026, enhancing COP's earnings resilience. Willow Project and Middle East deals diversify production, lower cost of supply, and underpin accelerated buybacks, dividend growth, and a $195–$205/share valuation range. Read the full article on Seeking Alpha
CHRD
US$138.52
Chord Energy
7D
-0.6%
1Y
39.3%
MUR
US$35.49
Murphy Oil
7D
-8.4%
1Y
56.7%
Analysis Article • Aug 09

Murphy Oil Corporation Just Beat Revenue By 5.1%: Here's What Analysts Think Will Happen Next

It's been a sad week for Murphy Oil Corporation ( NYSE:MUR ), who've watched their investment drop 16% to US$33.37 in...
OXY
US$58.65
Occidental Petroleum
7D
5.7%
1Y
34.2%
TPL
US$350.44
Texas Pacific Land
7D
-13.7%
1Y
23.0%
CVX
US$194.91
Chevron
7D
0.9%
1Y
27.0%
PSX
US$215.52
Phillips 66
7D
4.5%
1Y
82.1%
Analysis Article • Aug 08

Results: Phillips 66 Beat Earnings Expectations And Analysts Now Have New Forecasts

A week ago, Phillips 66 ( NYSE:PSX ) came out with a strong set of second-quarter numbers that could potentially lead...
PARR
US$71.67
Par Pacific Holdings
7D
-13.5%
1Y
163.2%
Seeking Alpha • Aug 08

Par Pacific Holdings: Recent Pullback Is A Textbook Buying Opportunity

Summary Par Pacific Holdings delivered a Q2 2026 net income surge of 678% YoY, driven by the Hawaii SAF facility launch and Montana asset maturity. PARR’s 22.47% operating margin and 15.6% net profit margin are unusually high for downstream oil, reflecting exceptional crack spreads and crude pricing. Technical analysis supports a bullish outlook, with a price target of $80—over 10% upside from current levels—despite a recent pullback below $71. Risks include exposure to regional market shocks, margin compression from lower crack spreads, and reliance on government renewable fuel credits. Read the full article on Seeking Alpha
EOG
US$142.22
EOG Resources
7D
-2.4%
1Y
21.7%
XOM
US$159.79
ExxonMobil Holdings
7D
3.1%
1Y
51.0%
VLO
US$314.95
Valero Energy
7D
2.4%
1Y
139.0%
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.
DK
US$60.81
Delek US Holdings
7D
-7.9%
1Y
193.9%
FRO
US$38.45
Frontline
7D
-3.7%
1Y
108.1%
DINO
US$85.22
HF Sinclair
7D
-3.9%
1Y
97.1%
VG
US$14.26
Venture Global
7D
9.0%
1Y
18.1%
Narrative Update • Jul 24

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).