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U.S. Oil and Gas Services Industry Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies73
  • 7D-4.6%
  • 3M21.4%
  • 1Y73.8%
  • YTDn/a

Over the last 7 days, the Oil and Gas Services industry has dropped 4.6%, driven by SLB declining 7.6%. Meanwhile, National Energy Services Reunited actually outperformed within the industry, gaining 5.3% in the last week. This takes the industry's 12 month performance to a gain of 74%. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026US$268.5bUS$143.8bUS$10.1b27.7x26.5x1.9x
Tue, 03 Mar 2026US$272.3bUS$143.4bUS$9.8b27.5x27.8x1.9x
Thu, 29 Jan 2026US$249.9bUS$143.1bUS$10.2b22x24.6x1.7x
Sat, 27 Dec 2025US$199.0bUS$142.7bUS$10.8b18.3x18.5x1.4x
Mon, 24 Nov 2025US$194.7bUS$142.7bUS$10.8b16.7x18x1.4x
Wed, 22 Oct 2025US$178.1bUS$141.7bUS$11.0b15.5x16.2x1.3x
Fri, 19 Sep 2025US$180.2bUS$142.7bUS$12.1b14.3x14.9x1.3x
Sun, 17 Aug 2025US$168.4bUS$142.7bUS$12.1b13.8x14x1.2x
Tue, 15 Jul 2025US$178.7bUS$147.3bUS$12.5b11.7x14.3x1.2x
Thu, 12 Jun 2025US$170.9bUS$148.2bUS$12.6b11.6x13.5x1.2x
Sat, 10 May 2025US$160.4bUS$148.3bUS$12.7b11.7x12.6x1.1x
Mon, 07 Apr 2025US$154.9bUS$148.3bUS$13.5b11.8x11.5x1x
Wed, 05 Mar 2025US$187.8bUS$148.2bUS$13.4b13.5x14x1.3x
Fri, 31 Jan 2025US$198.2bUS$147.1bUS$12.8b17.7x15.5x1.3x
Sun, 29 Dec 2024US$185.6bUS$146.7bUS$12.8b17.3x14.5x1.3x
Tue, 26 Nov 2024US$208.1bUS$146.7bUS$12.8b19.5x16.2x1.4x
Thu, 24 Oct 2024US$186.5bUS$146.2bUS$13.1b17.8x14.2x1.3x
Sat, 21 Sep 2024US$194.4bUS$145.0bUS$12.8b18.8x15.1x1.3x
Mon, 19 Aug 2024US$198.9bUS$144.9bUS$12.7b19x15.6x1.4x
Wed, 17 Jul 2024US$215.5bUS$143.6bUS$12.4b17.5x17.4x1.5x
Fri, 14 Jun 2024US$197.0bUS$143.6bUS$12.4b14.4x16x1.4x
Sun, 12 May 2024US$210.6bUS$143.6bUS$12.3b16x17.1x1.5x
Tue, 09 Apr 2024US$228.4bUS$142.2bUS$12.2b17.8x18.6x1.6x
Thu, 07 Mar 2024US$199.7bUS$142.5bUS$12.4b15.8x16.2x1.4x
Sat, 03 Feb 2024US$193.7bUS$146.3bUS$12.8b16.6x15.1x1.3x
Mon, 01 Jan 2024US$208.9bUS$144.1bUS$12.1b16x17.2x1.4x
Wed, 29 Nov 2023US$208.8bUS$143.2bUS$12.2b18x17.2x1.5x
Fri, 27 Oct 2023US$220.1bUS$142.2bUS$12.0b14.2x18.3x1.5x
Sun, 24 Sep 2023US$228.7bUS$138.6bUS$10.9b16.2x21.1x1.7x
Tue, 22 Aug 2023US$223.0bUS$138.6bUS$10.9b16.3x20.5x1.6x
Thu, 20 Jul 2023US$534.1bUS$133.3bUS$9.7b21.9x55.2x4x
Sat, 17 Jun 2023US$501.5bUS$132.4bUS$8.4b21.2x59.5x3.8x
Mon, 15 May 2023US$169.8bUS$132.2bUS$8.4b17.3x20.1x1.3x
Wed, 12 Apr 2023US$191.9bUS$124.0bUS$5.9b23.9x32.4x1.5x
Price to Earnings Ratio

32.4x


Total Market Cap: US$191.9bTotal Earnings: US$5.9bTotal Revenue: US$124.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Services Industry Price to Earnings3Y Average 20.8x202420252026
Current Industry PE
  • Investors are optimistic on the American Oil and Gas Equipment and Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 26.5x which is higher than its 3-year average PE of 20.8x.
  • The 3-year average PS ratio of 1.6x is lower than the industry's current PS ratio of 1.9x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Equipment and Services industry have grown 20% per year over the last three years.
  • Revenues for these companies have grown 5.1% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

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

US Market3.46%
Energy-5.02%
Energy Services-4.50%
Oil and Gas Services-4.63%
Oil and Gas Drilling-3.45%
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
SEI Solaris Energy InfrastructureUS$55.80-3.5%
US$172.4m		249.6%PE112.2x
NESR National Energy Services ReunitedUS$22.645.3%
+US$113.9m		264.6%PE44.6x
TDW TidewaterUS$84.382.4%
+US$98.2m		142.6%PE12.5x
VTOL Bristow GroupUS$47.242.7%
+US$36.2m		75.7%PE10.7x
DTI Drilling Tools InternationalUS$4.3618.8%
+US$24.3m		156.5%PS1x

Latest News

AESI
US$12.15
Atlas Energy Solutions
7D
-8.1%
1Y
-12.0%

Atlas Energy Solutions: The Shift To Power Production Is In Top Gear (Rating Upgrade)

Apr 03
SEI
US$55.80
Solaris Energy Infrastructure
7D
-3.5%
1Y
249.6%
HAL
US$38.17
Halliburton
7D
-5.6%
1Y
91.0%
AROC
US$34.66
Archrock
7D
-2.4%
1Y
59.1%

AROC: Compression Demand And Midstream Profile Will Support Future Dividends

Analysts have raised their Archrock price targets into the $39 to $42 range, citing solid Q4 results, steady natural gas compression demand, and what they view as supportive long term fundamentals for utilization, pricing, and horsepower additions. Analyst Commentary Recent research has largely focused on how Archrock's Q4 results and compression market backdrop feed into valuation, capital allocation, and growth execution.
LBRT
US$28.10
Liberty Energy
7D
-3.2%
1Y
154.5%

LBRT: Power Buildout And Bond Funding Could Pressure Future Share Performance

Liberty Energy's analyst fair value estimate has shifted from $14.00 to $21.00 as analysts factor in higher Street price targets and see potential in the company's evolving mix between traditional oil and gas completions and its growing Power business, despite citing geopolitical risks and sector wide uncertainties. Analyst Commentary Recent Street research around Liberty Energy clusters around rising price targets and a growing focus on the Power segment, but views are not uniformly bullish.
NOV
US$18.78
NOV
7D
-5.5%
1Y
56.9%
TTI
US$8.73
TETRA Technologies
7D
1.3%
1Y
249.2%

TTI: Future Upside Will Be Driven By Emerging Water Desalination Opportunity

Analysts now see TETRA Technologies' fair value shifting from about $9.17 to $12.75 per share, with the higher price target largely tied to expectations for stronger growth and profitability, particularly around the company’s water desalination opportunity. Analyst Commentary Bullish Takeaways Bullish analysts see the higher fair value range, including the US$13 price target, as reflecting what they view as meaningful upside tied to water desalination, which they regard as a key growth driver for the equity story.
BOOM
US$5.55
DMC Global
7D
6.7%
1Y
-20.9%
BKR
US$60.38
Baker Hughes
7D
-4.5%
1Y
70.5%
NESR
US$22.64
National Energy Services Reunited
7D
5.3%
1Y
264.6%

NESR: Jafurah Ramp And Regional Exposure Will Shape Future Risk Reward Balance

Analyst price targets for National Energy Services Reunited have moved sharply higher, with recent updates ranging from $21 to $34 as analysts factor in stronger Jafurah activity, resilient margins and the company's hydraulic fracturing position in the Middle East. Analyst Commentary Recent Street research on National Energy Services Reunited centers on higher Q4 expectations, the ramp at Jafurah and the company’s hydraulic fracturing capacity in the Middle East.
XPRO
US$16.66
Expro Group Holdings
7D
-7.0%
1Y
110.4%

XPRO: Subsea Well Access And Buybacks Will Support Future Upside

Analysts have lifted the fair value estimate for Expro Group Holdings to $21 from $19, reflecting updated models after Q4 and mixed views on near term drilling activity and valuation. Analyst Commentary Street research on Expro Group Holdings currently reflects a split view, with some analysts cautious on near term sector headwinds and others more constructive after updating models post Q4.
SLB
US$49.44
SLB
7D
-7.6%
1Y
42.2%
VTOL
US$47.24
Bristow Group
7D
2.7%
1Y
75.7%

VTOL: 2026 Offshore Upswing And Multi Mission Expansion Will Lift Earnings Quality

Analysts have lifted their Bristow Group price targets, with one moving from $45 to $56 and another initiating at $60. They point to expectations around a potential financial inflection in 2026 and improving earnings quality into 2027.
TDW
US$84.38
Tidewater
7D
2.4%
1Y
142.6%

TDW: Raised Outlook Into 2026 Will Face Execution And Timing Risks

The updated analyst work lifts Tidewater's fair value estimate from $45 to $52, with the higher target supported by Street research highlighting a raised $94 price target and expectations for a stronger setup into 2026. Analyst Commentary The latest Street research highlights a higher price target of $94 and an In Line rating.
DTI
US$4.36
Drilling Tools International
7D
18.8%
1Y
156.5%

DTI: 2026 Earnings Risk Will Likely Limit Future Share Price Upside

Analysts have trimmed their price target on Drilling Tools International to $2.25, reflecting slightly adjusted assumptions around the discount rate, revenue growth, profit margins, and future P/E expectations. What's in the News Drilling Tools International issued earnings guidance for the year ending December 31, 2026, outlining expectations for both revenue and net income (company guidance).
LSE
US$5.05
Leishen Energy Holding
7D
8.7%
1Y
1.4%