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U.S. Oil and Gas Exploration and Production Industry Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies210
  • 7D-6.0%
  • 3M33.8%
  • 1Y44.7%
  • YTDn/a

Over the last 7 days, the Oil and Gas Exploration and Production industry has dropped 6.0%, driven by Venture Global declining 16%. In contrast, Prairie Operating has gained 21%. This takes the industry's 12 month performance to a gain of 45%. 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 Exploration and Production Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026US$662.3bUS$230.4bUS$33.8b15.5x19.6x2.9x
Tue, 03 Mar 2026US$591.8bUS$228.5bUS$34.2b13.7x17.3x2.6x
Thu, 29 Jan 2026US$523.4bUS$232.5bUS$35.3b13.7x14.8x2.3x
Sat, 27 Dec 2025US$487.4bUS$232.2bUS$35.2b12.7x13.8x2.1x
Mon, 24 Nov 2025US$486.5bUS$233.7bUS$33.9b12.4x14.3x2.1x
Wed, 22 Oct 2025US$479.2bUS$224.9bUS$34.5b11.1x13.9x2.1x
Fri, 19 Sep 2025US$511.8bUS$224.9bUS$34.5b11.7x14.8x2.3x
Sun, 17 Aug 2025US$502.5bUS$225.5bUS$34.5b11.1x14.6x2.2x
Tue, 15 Jul 2025US$587.9bUS$230.5bUS$35.2b10.8x16.7x2.5x
Thu, 12 Jun 2025US$572.9bUS$230.6bUS$35.2b10.9x16.3x2.5x
Sat, 10 May 2025US$530.9bUS$228.9bUS$35.4b10.9x15x2.3x
Mon, 07 Apr 2025US$497.3bUS$217.0bUS$35.5b11x14x2.3x
Wed, 05 Mar 2025US$567.8bUS$217.3bUS$34.6b10.9x16.4x2.6x
Fri, 31 Jan 2025US$626.6bUS$213.3bUS$42.9b10.6x14.6x2.9x
Sun, 29 Dec 2024US$536.9bUS$208.0bUS$42.6b9.7x12.6x2.6x
Tue, 26 Nov 2024US$608.4bUS$208.0bUS$42.8b10.6x14.2x2.9x
Thu, 24 Oct 2024US$550.4bUS$216.0bUS$45.9b10.4x12x2.5x
Sat, 21 Sep 2024US$555.4bUS$221.0bUS$43.1b10.4x12.9x2.5x
Mon, 19 Aug 2024US$543.9bUS$221.1bUS$43.0b10.6x12.6x2.5x
Wed, 17 Jul 2024US$575.1bUS$214.9bUS$43.8b11.3x13.1x2.7x
Fri, 14 Jun 2024US$545.4bUS$214.8bUS$43.7b10.7x12.5x2.5x
Sun, 12 May 2024US$575.9bUS$214.7bUS$44.1b10.8x13x2.7x
Tue, 09 Apr 2024US$668.1bUS$236.0bUS$59.9b10.2x11.2x2.8x
Thu, 07 Mar 2024US$585.3bUS$238.5bUS$60.7b8.1x9.6x2.5x
Sat, 03 Feb 2024US$588.4bUS$260.2bUS$75.6b7x7.8x2.3x
Mon, 01 Jan 2024US$616.5bUS$260.7bUS$76.4b7.4x8.1x2.4x
Wed, 29 Nov 2023US$625.1bUS$260.8bUS$76.7b7.5x8.2x2.4x
Fri, 27 Oct 2023US$652.1bUS$280.4bUS$89.0b5.7x7.3x2.3x
Sun, 24 Sep 2023US$632.3bUS$285.5bUS$89.5b5.7x7.1x2.2x
Tue, 22 Aug 2023US$649.3bUS$285.6bUS$89.6b5.9x7.2x2.3x
Thu, 20 Jul 2023US$603.8bUS$327.2bUS$106.8b4.9x5.7x1.8x
Sat, 17 Jun 2023US$579.0bUS$327.2bUS$106.8b4.8x5.4x1.8x
Mon, 15 May 2023US$555.1bUS$328.0bUS$106.7b4.7x5.2x1.7x
Wed, 12 Apr 2023US$611.4bUS$336.9bUS$93.2b5.5x6.6x1.8x
Price to Earnings Ratio

6.6x


Total Market Cap: US$611.4bTotal Earnings: US$93.2bTotal Revenue: US$336.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 12x202420252026
Current Industry PE
  • Investors are optimistic on the American Oil and Gas Exploration and Production industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 19.6x which is higher than its 3-year average PE of 11.9x.
  • The 3-year average PS ratio of 2.4x is lower than the industry's current PS ratio of 2.9x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Exploration and Production industry have declined 29% per year over the last three years,
  • Revenues have also declined 12% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Comparison

How does U.S. Oil and Gas Exploration and Production compare with similar industries?

US Market3.46%
Energy-5.02%
Oil and Gas-5.08%
Oil and Gas Exploration and Production-5.96%
Oil and Gas Storage and Transportation-3.07%
Coal and Fuels-3.51%
Oil and Gas Refining and Marketing-4.78%
Integrated Oil and Gas-5.80%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PROP Prairie OperatingUS$2.4120.5%
+US$65.3m		-38.2%PS0.8x
NUAI New Era Energy & DigitalUS$4.355.1%
+US$21.0m		496.0%PS289.2x
KOS Kosmos EnergyUS$2.920.3%
+US$5.9m		92.1%PS1.3x
EPSN Epsilon EnergyUS$6.361.8%
+US$3.3m		0.3%PS3.7x
NRT North European Oil Royalty TrustUS$9.503.3%
+US$2.8m		122.5%PE9.1x

Latest News

FANG
US$193.88
Diamondback Energy
7D
-3.9%
1Y
57.2%

FANG: Higher Long Term Oil Prices Will Drive Stronger Future Cash Returns

The analyst fair value estimate for Diamondback Energy has moved to $257.44 from $235.15, with analysts tying the shift mainly to higher oil price assumptions, modestly stronger margin expectations, and updated P/E multiples across recent research. Analyst Commentary Recent Street research around Diamondback Energy has been active, with a series of higher price targets and mostly positive views on execution, cash generation, and oil leverage.
PROP
US$2.41
Prairie Operating
7D
20.5%
1Y
-38.2%
EQT
US$59.70
EQT
7D
-11.6%
1Y
29.5%
TPL
US$444.24
Texas Pacific Land
7D
-13.2%
1Y
23.5%

Texas Pacific Land Corporation: Still Too Expensive

Apr 02
NUAI
US$4.35
New Era Energy & Digital
7D
5.1%
1Y
496.0%
KOS
US$2.92
Kosmos Energy
7D
0.3%
1Y
92.1%

KOS: Future Production And Equity Raise Will Support A More Optimistic Outlook

Analysts have raised their price target for Kosmos Energy to $4.30 from $3.50, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E, which they say lead to a higher assessed fair value. What's in the News Kosmos Energy filed a follow-on equity offering of US$175 million in common stock.
EOG
US$142.64
EOG Resources
7D
-4.6%
1Y
29.0%
COP
US$130.52
ConocoPhillips
7D
-2.5%
1Y
51.3%
PRT
US$3.40
PermRock Royalty Trust
7D
2.4%
1Y
-9.6%
CRT
US$10.75
Cross Timbers Royalty Trust
7D
1.1%
1Y
-0.9%
EXE
US$103.89
Expand Energy
7D
-8.5%
1Y
3.9%

EXE: Electric Fracturing Expansion And Interim Leadership Will Support Future Upside

Analysts have nudged their price target for Expand Energy up to $132.14 from $130.71, tying this change to slightly softer expected revenue declines, a lower projected profit margin of 24.20% and an adjusted forward P/E of 16.13x. What's in the News Expanded completions program agreement with Evolution Well Services to use 100% electric hydraulic fracturing technology in Northeast Appalachia, with gas conditioning, power generation and electric frac operations designed to lower noise, reduce equipment footprint and streamline the worksite (Client Announcements).
NRT
US$9.50
North European Oil Royalty Trust
7D
3.3%
1Y
122.5%
VG
US$14.64
Venture Global
7D
-16.5%
1Y
95.7%
DVN
US$49.49
Devon Energy
7D
-5.0%
1Y
68.9%

DVN: Elevated Oil Assumptions And Merger Execution Risk Will Drive Future Downside

Analysts have lifted the fair value estimate for Devon Energy to $41.00 from $36.07 as higher sector oil price assumptions and updated exploration and production models contribute to stronger revenue growth expectations along with a slightly lower assumed future P/E multiple. Analyst Commentary Recent Street research on Devon Energy shows a wide range of views, with several firms lifting price targets while others highlight valuation limits and execution questions.
EPSN
US$6.36
Epsilon Energy
7D
1.8%
1Y
0.3%