A high P / E ratio generally signifies fast - growing earnings, a low P / E the opposite — with most oil companies, if the oil price halves you can be assured earnings will also dump! (wexboy.wordpress.com)
Most oil companies deal with specific EPA standards and drilling practices. (novelinvestor.com)
In our valuations, most oil companies are priced less attractively than other businesses are, and we are comfortable continuing to own just the few we have. (oakmark.com)