September 19, 2022 (Investorideas.com Newswire) Although the gas prices in the United States have been falling steadily for the past three months, the stock prices of the largest US oil and gas companies are still way above their last-year level.
According to data presented by AugustaFreePress.com, the combined market cap of the top five oil and gas companies in the United States surged by almost $430bn year-over-year, reaching above $1trn last week.
ExxonMobil`s Market Cap up by 75% YoY, Chevron Follows with a 67% Increase
Over the past few months, the gas prices in the United States hit their highest seasonal level in 14 years, pushed up by increased energy use during heat waves and strong exports to Europe as countries try to stock up for winter.
Stock prices of the US oil and gas giants also skyrocketed in this period. In September last year, the combined market capitalization of ExxonMobil, Chevron, ConocoPhillips, EOG Resources, and Pioneer Natural Resources, the five largest oil and gas producers in the United States, amounted to $583.3bn, revealed the Macrotrends data. The stock prices continued rising in the first months of 2022 and peaked in June when their combined market cap stood at above $1.1trn. Although the figure dropped by $100bn over the past three months, this still represents a huge 73% YoY jump.
ExxonMobil Corporation, the largest oil and gas producer in the United States, witnessed a 75% market cap increase over the past twelve months, with the combined value of its stocks rising from $235bn to $413bn. Chevron saw its market cap grow by 67% YoY. Last week, the market cap of the second largest gas company in the US stood at $312.8bn, up from $186.6 bn in the same month a year ago.
ConocoPhillips` Market cap Nearly Doubled, the Biggest Increase Among the Top 5
However, statistics show ConocoPhillips witnessed the largest year-over-year stock price growth. In September 2021, ConocoPhillips` market cap stood at $78.9bn. In the next six months, this figure jumped to nearly $140bn and continued rising. By June, the combined value of shares of the third largest US gas producer peaked at $157bn. Although this figure slipped to just under $152bn since then, this still represents a massive 92% increase year-over-year.
According to Macrotrends data, the market cap of EOG Resources jumped by 63% YoY, standing at $71.6bn last week. Pioneer Natural Resources follows with a market cap of nearly $70bn, 60% more than in the same month a year ago.
The full story and statistics can be found here: https://augustafreepress.com/market-cap-of-five-largest-us-oil-and-gas-companies-surged-by-430b-yoy/
This news is published on the Investorideas.com Newswire – a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com
Get more Oil and Gas – news, articles, and stock directories