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

UpdatedNov 14, 2025
DataAggregated Company Financials
Companies210
  • 7D3.9%
  • 3M1.8%
  • 1Y-11.0%
  • YTDn/a

The Oil and Gas Exploration and Production industry is up 3.9% in the last week, with ConocoPhillips up 3.6%. Meanwhile, Venture Global actually underperformed within the industry, shrinking 6.0% in the last week. In contrast, the industry has lost 11% in the last 12 months. Looking forward, earnings are forecast to grow by 13% annually.

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
Tue, 18 Nov 2025US$498.4bUS$233.7bUS$33.9b12.4x14.7x2.1x
Thu, 16 Oct 2025US$479.3bUS$224.9bUS$34.5b11.2x13.9x2.1x
Sat, 13 Sep 2025US$508.7bUS$224.9bUS$34.5b10.9x14.8x2.3x
Mon, 11 Aug 2025US$498.6bUS$223.6bUS$34.2b11.4x14.6x2.2x
Wed, 09 Jul 2025US$566.1bUS$230.5bUS$35.2b11.1x16.1x2.5x
Fri, 06 Jun 2025US$547.8bUS$230.6bUS$35.2b10.3x15.5x2.4x
Sun, 04 May 2025US$530.8bUS$221.9bUS$34.6b10.5x15.4x2.4x
Tue, 01 Apr 2025US$596.8bUS$217.0bUS$35.5b12.9x16.8x2.8x
Thu, 27 Feb 2025US$592.8bUS$217.2bUS$39.1b12.2x15.2x2.7x
Sat, 25 Jan 2025US$598.9bUS$208.0bUS$42.7b10.4x14x2.9x
Mon, 23 Dec 2024US$525.5bUS$208.0bUS$42.6b9.5x12.3x2.5x
Wed, 20 Nov 2024US$601.7bUS$214.6bUS$44.1b10.5x13.7x2.8x
Fri, 18 Oct 2024US$551.2bUS$215.9bUS$45.9b10.7x12x2.6x
Sun, 15 Sep 2024US$505.9bUS$221.0bUS$43.1b9.8x11.7x2.3x
Tue, 13 Aug 2024US$534.5bUS$220.9bUS$43.2b10.5x12.4x2.4x
Thu, 11 Jul 2024US$552.2bUS$214.9bUS$43.8b11x12.6x2.6x
Sat, 08 Jun 2024US$549.1bUS$214.8bUS$43.7b10.9x12.6x2.6x
Mon, 06 May 2024US$575.2bUS$214.2bUS$45.7b10.2x12.6x2.7x
Wed, 03 Apr 2024US$649.1bUS$236.0bUS$60.0b9.9x10.8x2.8x
Fri, 01 Mar 2024US$578.9bUS$239.3bUS$60.9b8.1x9.5x2.4x
Sun, 28 Jan 2024US$602.6bUS$260.4bUS$75.7b7.3x8x2.3x
Tue, 26 Dec 2023US$623.7bUS$260.7bUS$76.4b7.4x8.2x2.4x
Thu, 23 Nov 2023US$630.9bUS$260.8bUS$76.7b7.5x8.2x2.4x
Sat, 21 Oct 2023US$670.9bUS$286.0bUS$89.7b5.6x7.5x2.3x
Mon, 18 Sep 2023US$661.0bUS$285.5bUS$89.5b5.8x7.4x2.3x
Wed, 16 Aug 2023US$640.3bUS$285.7bUS$89.6b5.8x7.1x2.2x
Fri, 14 Jul 2023US$608.1bUS$327.2bUS$106.8b5x5.7x1.9x
Sun, 11 Jun 2023US$578.2bUS$327.2bUS$106.8b4.8x5.4x1.8x
Tue, 09 May 2023US$567.5bUS$327.9bUS$105.8b4.7x5.4x1.7x
Thu, 06 Apr 2023US$603.0bUS$336.9bUS$93.3b5.4x6.5x1.8x
Sat, 04 Mar 2023US$619.1bUS$335.7bUS$93.6b5.9x6.6x1.8x
Mon, 30 Jan 2023US$671.8bUS$327.9bUS$90.5b6x7.4x2x
Wed, 28 Dec 2022US$656.1bUS$326.6bUS$89.4b5.9x7.3x2x
Fri, 25 Nov 2022US$703.5bUS$326.6bUS$89.4b6.4x7.9x2.2x
Price to Earnings Ratio

7.9x


Total Market Cap: US$703.5bTotal Earnings: US$89.4bTotal Revenue: US$326.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Oil and Gas Exploration and Production Industry Price to Earnings3Y Average 10.8x202320242025
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 14.7x which is higher than its 3-year average PE of 10.8x.
  • The industry is trading close to its 3-year average PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Exploration and Production industry have declined 28% per year over the last three years,
  • Revenues have also declined 11% 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 Market-0.39%
Energy2.37%
Oil and Gas2.54%
Oil and Gas Exploration and Production3.92%
Oil and Gas Refining and Marketing3.07%
Oil and Gas Storage and Transportation2.64%
Integrated Oil and Gas1.82%
Coal and Fuels-6.18%
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
EOG EOG ResourcesUS$109.482.7%
+US$1.6b		-19.8%PE10.7x
DVN Devon EnergyUS$35.073.4%
+US$721.4m		-9.5%PE8.1x
COP ConocoPhillipsUS$88.720.6%
+US$605.5m		-22.0%PE12.4x
EXE Expand EnergyUS$116.981.9%
+US$512.1m		21.3%PE32.1x
FANG Diamondback EnergyUS$146.371.1%
+US$469.9m		-19.5%PE10x

Latest News

BKV
US$28.02
BKV
7D
9.4%
1Y
36.5%

There May Be Underlying Issues With The Quality Of BKV's (NYSE:BKV) Earnings

Nov 17
There May Be Underlying Issues With The Quality Of BKV's (NYSE:BKV) Earnings
CTRA
US$25.97
Coterra Energy
7D
-1.6%
1Y
-0.6%

CTRA: Share Repurchases and U.S. Gas Market Shifts Will Drive Upside

Analysts have modestly adjusted their price targets for Coterra Energy, with the consensus moving slightly down. This comes amid expectations for lower revenue growth and profit margins, balanced by ongoing share repurchases and a stable industry outlook.
VG
US$8.11
Venture Global
7D
-4.5%
1Y
n/a
FANG
US$146.37
Diamondback Energy
7D
1.1%
1Y
-19.5%
PR
US$13.68
Permian Resources
7D
3.4%
1Y
-9.8%
EXE
US$116.98
Expand Energy
7D
1.9%
1Y
21.3%

EXE: Improved Margin Projections and Completed Buyback Will Offset Lower Revenue

Analysts have raised their price target for Expand Energy from $128.78 to $130.22. This change is based on improved profit margin projections, which are seen as outweighing lower revenue growth estimates and a slightly lower discount rate.
COP
US$88.72
ConocoPhillips
7D
0.6%
1Y
-22.0%

Earnings Troubles May Signal Larger Issues for ConocoPhillips (NYSE:COP) Shareholders

Nov 13
Earnings Troubles May Signal Larger Issues for ConocoPhillips (NYSE:COP) Shareholders
KOS
US$1.37
Kosmos Energy
7D
-9.3%
1Y
-66.1%
EOG
US$109.48
EOG Resources
7D
2.7%
1Y
-19.8%

EOG: Secular Gas Demand And Efficiency Gains Will Drive Continued Outperformance

Analysts have modestly adjusted their price target for EOG Resources, raising it by $0.07 to $137.20 per share. This reflects continued expectations for improving profit margins and revenue growth, despite cautious sentiment around capital efficiency and commodity pricing.
OVV
US$38.20
Ovintiv
7D
-1.7%
1Y
-15.0%

Investors Can Find Comfort In Ovintiv's (NYSE:OVV) Earnings Quality

Nov 11
Investors Can Find Comfort In Ovintiv's (NYSE:OVV) Earnings Quality
DVN
US$35.07
Devon Energy
7D
3.4%
1Y
-9.5%
TPL
US$957.47
Texas Pacific Land
7D
-3.7%
1Y
-31.5%
CRK
US$24.59
Comstock Resources
7D
4.1%
1Y
77.0%

CRK: Persistent Natural Gas Oversupply Will Pressure Returns Through 2026

Comstock Resources' analyst price target has decreased substantially, with recent updates lowering expectations to a range of $9 to $14 per share. Analysts cite ongoing commodity headwinds and persistent oversupply, particularly in the natural gas sector, as key factors behind the adjustment.
VNOM
US$36.61
Viper Energy
7D
-2.9%
1Y
-30.5%
CNX
US$36.12
CNX Resources
7D
-1.2%
1Y
-7.4%
AR
US$33.64
Antero Resources
7D
-0.6%
1Y
5.3%

AR: Share Repurchase Of 10% And New CEO Will Drive Future Upside

Analysts have lowered their price target for Antero Resources from $42.62 to $42.00, citing moderated expectations for revenue growth and profit margins, along with a reduced discount rate in their updated valuation models. What's in the News Antero Resources completed the repurchase of 31,749,955 shares, representing 10.31% of shares outstanding, for $1,083.99 million under its ongoing buyback program as of September 30, 2025 (Company Filing).