Universe›Energy›Oil & Gas Exploration & Production
Observatory · observe first

Oil & Gas Exploration & Production

Oil & Gas Exploration & Production is gaining market weight. Lost weight for 1 consecutive month.

Historical time machine
Historical observation
20182026
Gaining steadilyConcentrated

Most of this industry's gains came from a few companies.

Universe weight
1.27%
$0.32T
12-month change
+0.52 pp
6-month change
+0.16 pp
3-month change
+0.09 pp
Company participation
67%
above their 6M weight average

Where did the weight change come from?

12-month contribution in universe percentage points · contributions add to the industry change

Company attribution
All other companies+0.328 pp
Industry total+0.522 pp

The three largest same-direction contributors explain 79% of gross gains. Opposing contributions can make an individual company’s change larger than the industry’s net change.

How has it moved through history?

Share of matched S&P 500 members

Jan 2018 – Sep 2022 · market weight (%)

0.10.81.520182019202020212022

Relative performance

Industry return versus ACWI · no future data shown

327712220182019202020212022

Is participation broad or concentrated?

Actual constituent counts at this date, not the legacy synthetic breadth proxy

Above their 3M universe-weight average83%
Above their 6M universe-weight average67%
Above their 12M universe-weight average100%
Top 5 share of current industry market cap96.6%

This is size concentration, not contribution to the 12-month change. The attribution above measures the latter.

Evidence can disagree

Independent dimensions · no combined score or bullish/bearish verdict

Allocation · 12M+0.52 pp
Relative strength · 12M+107.2%
Price index return · 12M+64.6%
Earnings revisions · unavailable0.0
Allocation gained weight while relative performance rose. At least half of constituents are above their 6M weight average. These observations need not agree.
Other evidence and availability

Valuation data: unavailable; shown as zero placeholder.

Attention data: unavailable; shown as zero placeholder.

Actual fund flows: unavailable. No ETF, mutual-fund or institutional flow feed is connected.

Volume / turnover: unavailable in this dataset.

Follow the contribution to individual companies

Sorted by absolute 12-month weight contribution, not investment merit

CompanySub-industryCountryUniverse weight12M contribution12M price returnRevisions
ConocoPhillips →
COP
Oil & Gas Exploration & ProductionUnited States0.512%+0.193 pp+58.4%0.0
Occidental Petroleum →
OXY
Oil & Gas Exploration & ProductionUnited States0.225%+0.128 pp+109.1%0.0
EOG Resources →
EOG
Oil & Gas Exploration & ProductionUnited States0.257%+0.093 pp+51.2%0.0
Devon Energy →
DVN
Oil & Gas Exploration & ProductionUnited States0.155%+0.070 pp+82.5%0.0
Diamondback Energy →
FANG
Oil & Gas Exploration & ProductionUnited States0.082%+0.022 pp+34.5%0.0
APA Corporation →
APA
Oil & Gas Exploration & ProductionUnited States0.044%+0.015 pp+61.6%0.0
Underlying monthly industry observations
MonthWeight1M change3M change6M change12M changeRelative return · 12M
Sep 20221.275%-0.009 pp+0.086 pp+0.162 pp+0.522 pp+107.2%
Aug 20221.284%+0.151 pp-0.095 pp+0.216 pp+0.685 pp+157.1%
Jul 20221.133%-0.056 pp-0.021 pp+0.169 pp+0.512 pp+116.4%
Jun 20221.189%-0.190 pp+0.076 pp+0.441 pp+0.465 pp+89.2%
May 20221.379%+0.225 pp+0.311 pp+0.607 pp+0.710 pp+134.5%
Apr 20221.154%+0.041 pp+0.191 pp+0.347 pp+0.558 pp+107.8%
Mar 20221.113%+0.045 pp+0.365 pp+0.360 pp+0.790 pp+89.1%
Feb 20221.068%+0.104 pp+0.297 pp+0.469 pp+0.751 pp+81.2%
Jan 20220.963%+0.216 pp+0.157 pp+0.343 pp+0.708 pp+103.9%
Dec 20210.748%-0.024 pp-0.006 pp+0.024 pp+0.336 pp+66.6%
Nov 20210.771%-0.035 pp+0.172 pp+0.102 pp+0.363 pp+69.8%
Oct 20210.807%+0.053 pp+0.186 pp+0.210 pp+0.491 pp+124.8%
Sep 20210.753%+0.154 pp+0.029 pp+0.430 pp+0.753 pp+95.3%
Aug 20210.599%-0.022 pp-0.070 pp+0.282 pp+0.598 pp+33.0%
Jul 20210.621%-0.103 pp+0.025 pp+0.366 pp+0.620 pp+25.1%
Jun 20210.724%+0.055 pp+0.401 pp+0.312 pp+0.723 pp+22.1%
May 20210.669%+0.072 pp+0.352 pp+0.260 pp+0.668 pp+14.4%
Apr 20210.596%+0.273 pp+0.341 pp+0.281 pp+0.038 pp+0.7%
Mar 20210.323%+0.007 pp-0.089 pp+0.323 pp+0.323 pp+34.2%
Feb 20210.317%+0.061 pp-0.092 pp+0.316 pp+0.316 pp-18.6%
Jan 20210.255%-0.157 pp-0.060 pp+0.255 pp-0.551 pp-42.2%
Dec 20200.412%+0.004 pp+0.412 pp+0.411 pp-0.480 pp-49.9%
Nov 20200.408%+0.093 pp+0.408 pp+0.408 pp-0.409 pp-46.1%
Oct 20200.315%+0.315 pp+0.315 pp-0.242 pp-0.484 pp-58.2%
Sep 20200.000%-0.000 pp-0.000 pp+0.000 pp-0.871 pp-58.8%
Aug 20200.000%-0.000 pp-0.000 pp-0.000 pp-0.861 pp-50.9%
Jul 20200.000%-0.000 pp-0.558 pp-0.806 pp-0.975 pp-52.0%
Jun 20200.001%+0.000 pp+0.000 pp-0.891 pp-1.026 pp-46.3%
May 20200.001%-0.557 pp-0.000 pp-0.817 pp-1.036 pp-46.7%
Apr 20200.558%+0.558 pp-0.248 pp-0.241 pp-0.573 pp-46.6%
Mar 20200.000%-0.000 pp-0.891 pp-0.871 pp-1.212 pp-61.1%
Feb 20200.001%-0.805 pp-0.817 pp-0.861 pp-1.222 pp-37.5%
Jan 20200.806%-0.086 pp+0.007 pp-0.169 pp+0.117 pp-32.6%
Dec 20190.892%+0.074 pp+0.021 pp-0.135 pp+0.217 pp-24.3%
Nov 20190.818%+0.019 pp-0.044 pp-0.219 pp+0.147 pp-33.2%
Oct 20190.799%-0.072 pp-0.176 pp-0.332 pp+0.074 pp-36.2%
Sep 20190.871%+0.010 pp-0.155 pp-0.341 pp+0.064 pp-36.2%
Aug 20190.862%-0.114 pp-0.175 pp-0.361 pp+0.074 pp-35.0%
Jul 20190.975%-0.051 pp-0.156 pp+0.287 pp-0.503 pp-30.2%
Jun 20191.026%-0.010 pp-0.186 pp+0.352 pp-0.482 pp-28.1%
May 20191.036%-0.095 pp-0.186 pp+0.366 pp-0.424 pp-25.7%
Apr 20191.131%-0.081 pp+0.443 pp+0.406 pp-0.287 pp-17.7%
Mar 20191.212%-0.010 pp+0.538 pp+0.405 pp-0.038 pp-0.2%
Feb 20191.223%+0.534 pp+0.552 pp+0.435 pp+0.048 pp+6.9%
Jan 20190.689%+0.014 pp-0.037 pp-0.790 pp-0.572 pp+2.0%
Dec 20180.674%+0.004 pp-0.133 pp-0.833 pp-0.586 pp-0.5%
Nov 20180.670%-0.055 pp-0.117 pp-0.790 pp-0.590 pp+3.6%
Oct 20180.725%-0.082 pp-0.753 pp-0.693 pp-0.535 pp+8.2%
Sep 20180.807%+0.019 pp-0.701 pp-0.443 pp-0.454 pp+17.8%
Aug 20180.788%-0.691 pp-0.673 pp-0.387 pp-0.473 pp+13.9%
Jul 20181.478%-0.029 pp+0.060 pp+0.218 pp+0.218 pp+18.8%
Jun 20181.508%+0.047 pp+0.257 pp+0.247 pp+0.247 pp+19.6%
May 20181.461%+0.042 pp+0.286 pp+0.200 pp+0.200 pp+14.8%
Apr 20181.418%+0.168 pp+0.157 pp+0.157 pp+0.157 pp+10.3%
Mar 20181.250%+0.076 pp-0.010 pp-0.010 pp-0.010 pp-2.2%
Feb 20181.175%-0.086 pp-0.086 pp-0.086 pp-0.086 pp-7.7%
Jan 20181.261%+0.000 pp+0.000 pp+0.000 pp+0.000 pp+0.0%
How are these descriptive states defined?

Gaining / losing: 12-month weight change above +0.005pp / below −0.005pp. Direction and speed are separate dimensions, not mutually exclusive recommendations.

Accelerating / slowing: compare the most recent 3M change with the preceding 3M change. Accelerating means a positive change speeds up by >0.02pp. Slowing means the magnitude of movement declines by >0.02pp. A falling industry can also slow.

Reversing: the last two 3M changes have opposite signs, outside a ±0.005pp tolerance. Persistence counts consecutive same-direction monthly changes.

Broad / concentrated: company attribution, not a market-cap concentration shortcut. Concentrated means the three largest same-direction contributors account for ≥70% of gross same-direction changes; otherwise broad requires ≥60% of constituents moving with the industry. Other cases are mixed.

Weights use matched S&P 500 members’ market-cap estimates, based on SEC-reported shares available by each month-end and monthly closing prices. Companies without a matched price or share record are omitted, so the denominator is the matched sample rather than every index member. These are not official float-adjusted S&P weights. Flow is not measured.