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

UpdatedMay 09, 2026
DataAggregated Company Financials
Companies59
  • 7D-5.9%
  • 3M12.2%
  • 1Y36.0%
  • YTD18.3%

Over the last 7 days, the Oil and Gas industry has dropped 5.9%, driven by Shell declining 5.7%. On the other hand Pantheon Resources is actually up 7.6%. In the past year, the industry has gained 36%. As for the next few years, earnings are expected to grow by 8.7% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 10 May 2026UK£280.7bUK£370.0bUK£16.1b12.3x17.4x0.8x
Tue, 07 Apr 2026UK£313.5bUK£377.5bUK£13.6b13.5x23.1x0.8x
Thu, 05 Mar 2026UK£270.6bUK£373.2bUK£13.3b10.7x20.4x0.7x
Sat, 31 Jan 2026UK£246.6bUK£346.7bUK£11.6b10.3x21.3x0.7x
Mon, 29 Dec 2025UK£233.7bUK£352.5bUK£11.7b10.1x19.9x0.7x
Wed, 26 Nov 2025UK£242.1bUK£361.6bUK£12.1b9.8x20.1x0.7x
Fri, 24 Oct 2025UK£247.0bUK£359.1bUK£10.2b13.1x24.2x0.7x
Sun, 21 Sep 2025UK£231.7bUK£354.9bUK£10.2b11.7x22.7x0.7x
Tue, 19 Aug 2025UK£234.0bUK£357.1bUK£11.1b11.5x21.1x0.7x
Thu, 17 Jul 2025UK£230.0bUK£360.6bUK£9.2b10.3x25x0.6x
Sat, 14 Jun 2025UK£231.0bUK£356.6bUK£9.1b9.1x25.4x0.6x
Mon, 12 May 2025UK£218.5bUK£363.3bUK£9.4b9x23.2x0.6x
Wed, 09 Apr 2025UK£213.6bUK£382.0bUK£13.1b8.6x16.3x0.6x
Fri, 07 Mar 2025UK£233.3bUK£378.7bUK£13.1b10x17.8x0.6x
Sun, 02 Feb 2025UK£244.5bUK£396.7bUK£15.6b8.5x15.6x0.6x
Tue, 31 Dec 2024UK£226.0bUK£403.1bUK£15.1b8.6x15x0.6x
Thu, 28 Nov 2024UK£232.2bUK£398.7bUK£15.4b9.1x15.1x0.6x
Sat, 26 Oct 2024UK£235.9bUK£398.0bUK£20.7b9.2x11.4x0.6x
Mon, 23 Sep 2024UK£239.5bUK£387.9bUK£20.4b8.7x11.8x0.6x
Wed, 21 Aug 2024UK£253.2bUK£396.7bUK£20.5b12.1x12.4x0.6x
Fri, 19 Jul 2024UK£265.3bUK£400.1bUK£21.7b12.9x12.3x0.7x
Sun, 16 Jun 2024UK£258.9bUK£408.3bUK£22.1b9.9x11.7x0.6x
Tue, 14 May 2024UK£281.9bUK£412.8bUK£22.5b10.3x12.5x0.7x
Thu, 11 Apr 2024UK£281.1bUK£431.1bUK£28.5b7.3x9.9x0.7x
Sat, 09 Mar 2024UK£248.7bUK£421.5bUK£27.3b6x9.1x0.6x
Mon, 05 Feb 2024UK£269.5bUK£599.1bUK£55.4b3.8x4.9x0.4x
Wed, 03 Jan 2024UK£314.9bUK£617.4bUK£63.3b3.9x5x0.5x
Fri, 01 Dec 2023UK£280.7bUK£617.1bUK£63.3b4x4.4x0.5x
Sun, 29 Oct 2023UK£300.6bUK£653.9bUK£58.9b4.5x5.1x0.5x
Tue, 26 Sep 2023UK£296.7bUK£650.1bUK£58.7b4.1x5.1x0.5x
Thu, 24 Aug 2023UK£269.8bUK£630.5bUK£58.3b4.6x4.6x0.4x
Sat, 22 Jul 2023UK£276.3bUK£660.3bUK£75.5b4.1x3.7x0.4x
Mon, 19 Jun 2023UK£268.5bUK£660.9bUK£75.6b4.6x3.6x0.4x
Wed, 17 May 2023UK£279.0bUK£674.5bUK£77.5b4.9x3.6x0.4x
Price to Earnings Ratio

3.6x


Total Market Cap: UK£279.0bTotal Earnings: UK£77.5bTotal Revenue: UK£674.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Oil and Gas Industry Price to Earnings3Y Average 15.7x202420252026
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 17.4x which is higher than its 3-year average PE of 15.7x.
  • The industry is trading close to its 3-year average PS ratio of 0.65x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 41% 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 Market-0.81%
Energy-5.85%
Oil and Gas-5.86%
Oil and Gas Storage and Transportation1.19%
Oil and Gas Refining and Marketing-1.06%
Oil and Gas Exploration and Production-4.16%
Integrated Oil and Gas-5.88%
Coal and Fuels-8.39%
Industry PE
  • Investors are most optimistic about the Oil and Gas Refining and Marketing industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 24.9%, which is higher than its past year's earnings decline of 50.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Refining and Marketing industry, expecting annual earnings growth of 25% over the next 5 years.
  • This is better than its past earnings decline of 50% per year.
  • In contrast, the Integrated Oil and Gas industry is expected to see its earnings grow by 7.3% 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
PANR Pantheon ResourcesUK£0.117.6%
+UK£11.2m		-69.1%PB0.6x
CDL Cloudbreak DiscoveryUK£0.007668.9%
+UK£6.9m		424.1%PE-7.6x
BOR Borders & Southern PetroleumUK£0.114.8%
+UK£4.4m		107.6%PB0.4x
CNE Capricorn EnergyUK£3.071.7%
+UK£3.4m		28.5%PE17.4x
PRD Predator Oil & Gas HoldingsUK£0.0398.7%
+UK£2.1m		21.3%PS28.4x

Latest News

SHEL
UK£31.03
Shell
7D
-5.7%
1Y
26.2%
BP.
UK£5.36
BP
7D
-6.3%
1Y
43.9%
CDL
UK£0.0076
Cloudbreak Discovery
7D
68.9%
1Y
424.1%
SEPL
UK£5.60
Seplat Energy
7D
-5.4%
1Y
181.4%
Analysis Article • May 08

We Think Seplat Energy's (LON:SEPL) Solid Earnings Are Understated

The market seemed underwhelmed by last week's earnings announcement from Seplat Energy Plc ( LON:SEPL ) despite the...
HBR
UK£2.79
Harbour Energy
7D
-4.6%
1Y
62.0%
Narrative Update • May 05

HBR: Weaker Revenue And Margin Outlook Will Pressure Future Share Returns

Harbour Energy's analyst price target has moved higher to reflect raised targets from several banks, including recent increases of £0.30 and £0.40. Analysts are balancing lower discount rate assumptions and a higher future P/E with more cautious views on revenue growth and profit margins.
ITH
UK£2.62
Ithaca Energy
7D
-1.4%
1Y
87.0%
Narrative Update • May 04

ITH: Dividend Payout Will Support Returns While Future Earnings Multiple Compresses

Analysts have adjusted their price target for Ithaca Energy to reflect updated views on revenue trends, profitability and a lower future P/E assumption. The revised target is £1.51 per share, unchanged from the previous £1.51.
KAP
US$79.30
National Atomic Company Kazatomprom JSC
7D
-8.9%
1Y
129.5%
Narrative Update • May 04

KAP: Long Term Uranium Contract And Dividend Plan Will Shape Outlook

Analysts have trimmed their price target for National Atomic Company Kazatomprom JSC to $93.71 from $105.23, reflecting updated views on slightly higher projected revenue growth, a small adjustment to expected profit margins, and a lower assumed future P/E multiple. What's in the News Kazatomprom reiterated its 2026 production and earnings guidance, including expected Group sales volumes of 19,500 tU to 20,500 tU and production on a 100% basis of 27,500 tU to 29,000 tU, with attributable production of 14,500 tU to 15,500 tU and consolidated revenue guidance of KZT 2,200b to KZT 2,300b (Key Developments).
SQZ
UK£2.63
Serica Energy
7D
-9.6%
1Y
89.2%
Narrative Update • May 01

SQZ: Future Returns Will Be Driven By 2026 Free Cash Flow Potential

Analysts have increased their fair value estimate for Serica Energy from about £3.14 to roughly £3.64 per share, citing updated assumptions around future revenue growth, margins, and a higher expected future P/E multiple. This change is supported by recent research that highlights potential for material free cash flow in 2026 and 2027, as well as a higher price target from £3.00 to £3.50.
ENOG
UK£8.48
Energean
7D
-3.8%
1Y
-4.5%
Narrative Update • Apr 27

ENOG: Angola Deal And FPSO Restart Will Shape A Measured 2026 Outlook

Energean's updated analyst price target has shifted slightly to reflect a recalibrated fair value and P/E outlook, with recent target cuts from £0.15 and £0.75 by Berenberg and a downgrade at Jefferies contributing to a more cautious, yet still valuation focused, narrative from analysts. Analyst Commentary Recent research updates on Energean have centred on recalibrated price targets in £0.15 and £0.75 increments and a downgrade that signals a more cautious stance on execution and valuation risk.
CNE
UK£3.07
Capricorn Energy
7D
1.7%
1Y
28.5%
Narrative Update • Apr 25

CNE: Western Desert Deal And Takeover Interest Will Drive Rerating

Analysts have adjusted their price target on Capricorn Energy to £4.02 from £4.01, citing updated assumptions for revenue growth, profit margins, and a revised estimate of the future P/E ratio. What's in the News The Egyptian House of Representatives ratified a consolidated and amended concession agreement covering eight Western Desert concessions where Capricorn holds a 50% interest with Cheiron Oil and Gas Limited.
UPL
UK£0.025
Upland Resources
7D
3.1%
1Y
173.0%
UJO
UK£0.05
Union Jack Oil
7D
28.2%
1Y
-43.9%
SEA
UK£0.90
Seascape Energy Asia
7D
2.3%
1Y
202.5%
BOR
UK£0.11
Borders & Southern Petroleum
7D
4.8%
1Y
107.6%
PRD
UK£0.039
Predator Oil & Gas Holdings
7D
8.7%
1Y
21.3%
PANR
UK£0.11
Pantheon Resources
7D
7.6%
1Y
-69.1%