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U.K. (FTSE) Oil and Gas Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies63
  • 7D2.1%
  • 3M-0.4%
  • 1Y12.0%
  • YTD7.2%

Over the last 7 days, the Oil and Gas industry has remained flat. The past year has been better, since the industry has gained 13% in that time. Earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

Has the U.K. Oil and Gas Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025UK£234.3bUK£353.0bUK£11.8b10.1x19.9x0.7x
Fri, 21 Nov 2025UK£248.6bUK£365.1bUK£12.0b11.2x20.6x0.7x
Sun, 19 Oct 2025UK£233.5bUK£356.1bUK£10.1b13.5x23.2x0.7x
Tue, 16 Sep 2025UK£232.6bUK£351.4bUK£10.0b11.6x23.3x0.7x
Thu, 14 Aug 2025UK£236.3bUK£355.4bUK£11.0b11.5x21.4x0.7x
Sat, 12 Jul 2025UK£232.1bUK£356.4bUK£9.1b10.3x25.5x0.7x
Mon, 09 Jun 2025UK£219.4bUK£357.6bUK£9.1b8.7x24x0.6x
Wed, 07 May 2025UK£213.8bUK£361.4bUK£9.4b9.1x22.8x0.6x
Fri, 04 Apr 2025UK£238.3bUK£373.1bUK£12.8b8.8x18.7x0.6x
Sun, 02 Mar 2025UK£244.3bUK£385.8bUK£13.6b10.5x18x0.6x
Tue, 28 Jan 2025UK£242.5bUK£404.3bUK£15.2b8.5x16x0.6x
Thu, 26 Dec 2024UK£224.2bUK£402.1bUK£15.1b8.5x14.9x0.6x
Sat, 23 Nov 2024UK£237.6bUK£403.8bUK£15.6b8.9x15.3x0.6x
Mon, 21 Oct 2024UK£234.0bUK£396.0bUK£20.6b9.6x11.3x0.6x
Wed, 18 Sep 2024UK£239.9bUK£392.5bUK£20.5b8.7x11.7x0.6x
Fri, 16 Aug 2024UK£260.2bUK£402.2bUK£21.3b11.9x12.2x0.6x
Sun, 14 Jul 2024UK£263.1bUK£398.8bUK£21.6b10.3x12.2x0.7x
Tue, 11 Jun 2024UK£261.3bUK£407.0bUK£22.1b11.5x11.8x0.6x
Thu, 09 May 2024UK£278.1bUK£414.9bUK£22.6b10.3x12.3x0.7x
Sat, 06 Apr 2024UK£273.2bUK£428.0bUK£28.3b7.3x9.6x0.6x
Mon, 04 Mar 2024UK£250.4bUK£428.7bUK£26.9b5.7x9.3x0.6x
Wed, 31 Jan 2024UK£272.1bUK£614.9bUK£63.0b3.9x4.3x0.4x
Fri, 29 Dec 2023UK£278.0bUK£613.4bUK£62.9b3.9x4.4x0.5x
Sun, 26 Nov 2023UK£282.9bUK£618.2bUK£63.4b4x4.5x0.5x
Tue, 24 Oct 2023UK£303.0bUK£648.9bUK£58.5b4.4x5.2x0.5x
Thu, 21 Sep 2023UK£295.7bUK£643.3bUK£58.2b4.1x5.1x0.5x
Sat, 19 Aug 2023UK£270.8bUK£629.7bUK£58.2b4.7x4.6x0.4x
Mon, 17 Jul 2023UK£265.7bUK£651.0bUK£74.5b4.4x3.6x0.4x
Wed, 14 Jun 2023UK£267.0bUK£669.3bUK£76.6b4.9x3.5x0.4x
Fri, 12 May 2023UK£279.2bUK£674.2bUK£78.3b4.8x3.6x0.4x
Sun, 09 Apr 2023UK£295.3bUK£669.5bUK£54.4b4.7x5.4x0.4x
Tue, 07 Mar 2023UK£313.4bUK£680.1bUK£56.5b4.2x5.5x0.5x
Thu, 02 Feb 2023UK£303.8bUK£642.3bUK£50.2b4.5x6x0.5x
Sat, 31 Dec 2022UK£303.2bUK£652.1bUK£50.6b4.5x6x0.5x
Price to Earnings Ratio

6x


Total Market Cap: UK£303.2bTotal Earnings: UK£50.6bTotal Revenue: UK£652.1bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Oil and Gas Industry Price to Earnings3Y Average 13.8x202320242025
Current Industry PE
  • Investors are optimistic on the British Oil and Gas industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 19.9x which is higher than its 3-year average PE of 13.8x.
  • The industry is trading close to its 3-year average PS ratio of 0.61x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 38% per year over the last three years,
  • Revenues have also declined 18% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the U.K. Energy industry?

GB Market2.11%
Energy2.08%
Oil and Gas2.10%
Integrated Oil and Gas2.37%
Oil and Gas Exploration and Production-0.014%
Coal and Fuels-0.50%
Oil and Gas Storage and Transportation-0.78%
Oil and Gas Refining and Marketing-3.55%
Industry PE
  • Investors are most optimistic about the Integrated Oil and Gas industry which is trading above its 3-year average PE ratio of 11.7x.
    • Analysts are expecting annual earnings growth of 13.6%, which is higher than its past year's earnings decline of 25.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Exploration and Production industry, expecting annual earnings growth of 35% over the next 5 years.
  • However this is lower than its past earnings growth rate of 51% per year.
  • In contrast, the Coal and Fuels industry is expected to see its earnings grow by 4.4% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SHEL ShellUK£27.022.9%
+UK£4.2b		11.2%PE14.3x
BP. BPUK£4.281.2%
+UK£751.1m		12.1%PE58.1x
YCA Yellow CakeUK£5.899.7%
+UK£124.7m		19.0%PS351.2x
ITH Ithaca EnergyUK£1.632.8%
+UK£72.5m		52.7%PS1.2x
SEPL Seplat EnergyUK£2.603.8%
+UK£57.0m		29.8%PE10.2x

Latest News

INDI
UK£0.038
Indus Gas
7D
-54.0%
1Y
-58.1%
HBR
UK£1.99
Harbour Energy
7D
-2.8%
1Y
-19.7%

Little Excitement Around Harbour Energy plc's (LON:HBR) Revenues

Dec 23
Little Excitement Around Harbour Energy plc's (LON:HBR) Revenues
BP.
UK£4.28
BP
7D
1.2%
1Y
12.1%

BP.: Future Returns Will Reflect Portfolio Streamlining And Ongoing Divestment Execution

Analysts have modestly increased their price target on BP, reflecting a slightly higher fair value and improved long term earnings multiple assumptions, supported by recent target hikes to $40 in the U.S. and above 500 GBp in London, as they point to the company’s strategic reset, portfolio simplification, and still attractive valuation. Analyst Commentary Bullish analysts highlight that BP's strategy reset, with a sharper focus on portfolio simplification and divestment of non core assets, is starting to resonate in higher price targets and improved confidence in long term earnings growth.
SEPL
UK£2.60
Seplat Energy
7D
3.8%
1Y
29.8%

SEPL: Higher Cash Flows And Dividends Will Drive Future Share Price Upside

Narrative Update on Analyst Price Target Analysts have lifted their price target for Seplat Energy to £4.15 per share from £3.25, citing a more constructive view on the company’s valuation, despite only marginal adjustments to the discount rate and long term growth assumptions. Analyst Commentary Bullish analysts highlight that the higher price target reflects growing confidence in Seplat Energy’s ability to execute on its strategic plans and deliver stronger cash flows, supporting a premium to prior valuation assumptions.
KAP
US$52.10
National Atomic Company Kazatomprom JSC
7D
-1.7%
1Y
38.2%

KAP: Higher Revenue Guidance Will Drive Improved Profitability Outlook

Analysts have raised their price target for National Atomic Company Kazatomprom JSC by approximately 11 percent to the equivalent of about 62, reflecting expectations of slightly improved profitability despite a marginally lower long term revenue growth outlook and a higher anticipated future price to earnings multiple. What's in the News Kazatomprom raised its consolidated revenue guidance for 2025 to KZT 1,750 billion to KZT 1,850 billion, up from a prior range of KZT 1,600 billion to KZT 1,700 billion (company guidance) The company confirmed its 2025 production guidance, keeping expected total production at 25,000 tU to 26,500 tU on a 100 percent basis and 13,000 tU to 14,000 tU on an attributable basis, with group sales volume unchanged at 17,500 tU to 18,500 tU (company guidance) Kazatomprom scheduled a special or extraordinary shareholders meeting for December 19, 2025 in Astana to consider approval of a new edition of its Corporate Governance Code (company announcement) Valuation Changes The Fair Value Estimate has risen moderately, from approximately 56.39 to 62.37, reflecting a higher intrinsic value assessment for the shares.
SHEL
UK£27.02
Shell
7D
2.9%
1Y
11.2%

SHEL: Future Returns Will Reflect Free Cash Flow Amid Buyback Funding Debate

Shell's analyst price target has edged lower by approximately $0.12, as analysts weigh still resilient free cash flow and recent target hikes against valuation concerns following the year-to-date rally, as well as medium-term growth and resource replenishment challenges. Analyst Commentary Recent Street research reflects a nuanced view on Shell, with a mix of target price increases and rating downgrades as the stock reprices higher and investors reassess medium term growth and capital return risks.
PANR
UK£0.095
Pantheon Resources
7D
-47.8%
1Y
-64.7%
ITH
UK£1.63
Ithaca Energy
7D
2.8%
1Y
52.7%

ITH: Cygnus Acquisition Will Support Cash Generation Despite Tough Tax Backdrop

Analysts have trimmed their price target on Ithaca Energy to 180 GBp from 200 GBp, citing the shares trading at a premium despite the U.K. tax regime, moderating cash returns relative to peers, and concerns about limited gas hedging beyond 2026. Analyst Commentary Bullish analysts acknowledge that Ithaca Energy faces structural challenges in the U.K. tax environment and a less favorable hedging profile beyond 2026, yet they still see selective reasons for optimism around execution and cash generation.
ENW
UK£0.15
Enwell Energy
7D
-28.6%
1Y
-31.8%

Enwell Energy plc's (LON:ENW) Shares Bounce 27% But Its Business Still Trails The Market

Dec 12
Enwell Energy plc's (LON:ENW) Shares Bounce 27% But Its Business Still Trails The Market
PHAR
UK£0.19
Pharos Energy
7D
-5.6%
1Y
-17.7%
KIST
UK£1.80
Kistos Holdings
7D
-2.7%
1Y
73.1%
UPL
UK£0.028
Upland Resources
7D
-7.7%
1Y
155.8%
YCA
UK£5.89
Yellow Cake
7D
9.7%
1Y
19.0%
ENOG
UK£8.84
Energean
7D
2.4%
1Y
-12.6%

ENOG: Output Recovery And Margin Improvement Will Offset Production Disruptions

Analysts have slightly reduced their price target for Energean from $9.85 to $9.81. This adjustment reflects expectations for higher revenue growth and improved profit margins, partially offset by a modestly higher discount rate and lower future price-to-earnings estimates.
AEX
UK£0.018
Aminex
7D
20.7%
1Y
69.9%
RKH
UK£0.72
Rockhopper Exploration
7D
2.6%
1Y
219.5%