Sagarin has #4 Oregon 1.94 points better than #7 Texas, similar gap to Texas vs OU (who interestingly is ranked 8 right behind Texas - big drop off there).
SP+ has Oregon 2.5 points better than #7 Texas, enormous gap after Bama who is basically tied with Texas so no real comp.
FPI has #3 Oregon 2.8 points better than #7 Texas, a little wider than the gap between Texas and #11 ND (interestingly top 10 seems to be where most ratings are falling off a cliff)
The FEI gap between #2 Oregon and #7 Texas is equal to that between Texas and #21 USC/#22 Clemson.
#5 Texas is marginally ahead of #7 Oregon in Massey's ratings (8.88 vs 8.85, which is really a T-6 with Washington), which measure past performance, but Oregon has a power rating 2 points higher, again slightly bigger than the gap between Texas and OU.
KFord has #3 Oregon rated 2.3 points higher than #7 Texas, also a little wider than the gap between Texas and #11 ND.
Analytics generally suggest Oregon would be a pick'em against Texas on the road and provide a general consensus that one is a top 4 team and one isn't. That is a notable advantage in the context of picking the top 4 teams.