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

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies61
  • 7D0.08%
  • 3M1.4%
  • 1Y10.0%
  • YTD5.1%

Over the last 7 days, the Oil and Gas industry has remained flat, although notably BP gained 3.1%. As for the the longer term, the industry is up 10% over the past 12 months. Looking forward, earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 08 Feb 2026UK£247.4bUK£352.9bUK£14.0b9.8x17.7x0.7x
Tue, 06 Jan 2026UK£237.4bUK£351.9bUK£11.7b10.7x20.2x0.7x
Thu, 04 Dec 2025UK£245.4bUK£357.0bUK£11.9b9.7x20.6x0.7x
Sat, 01 Nov 2025UK£248.7bUK£362.3bUK£11.2b12.4x22.2x0.7x
Mon, 29 Sep 2025UK£242.9bUK£356.6bUK£10.1b12x24x0.7x
Wed, 27 Aug 2025UK£240.0bUK£358.2bUK£11.2b11.6x21.5x0.7x
Fri, 25 Jul 2025UK£233.3bUK£358.2bUK£9.2b9.3x25.5x0.7x
Sun, 22 Jun 2025UK£234.5bUK£359.8bUK£9.2b9.3x25.5x0.7x
Tue, 20 May 2025UK£218.3bUK£362.0bUK£9.4b9.3x23.2x0.6x
Thu, 17 Apr 2025UK£215.9bUK£368.7bUK£12.6b9.2x17.1x0.6x
Sat, 15 Mar 2025UK£243.0bUK£377.5bUK£13.1b9.2x18.6x0.6x
Mon, 10 Feb 2025UK£244.1bUK£396.4bUK£15.6b9.9x15.6x0.6x
Wed, 08 Jan 2025UK£243.4bUK£403.8bUK£15.1b8.9x16.1x0.6x
Fri, 06 Dec 2024UK£228.0bUK£396.1bUK£15.3b9.3x14.9x0.6x
Sun, 03 Nov 2024UK£233.6bUK£391.2bUK£15.1b8.4x15.5x0.6x
Tue, 01 Oct 2024UK£228.0bUK£386.4bUK£20.2b8.8x11.3x0.6x
Thu, 29 Aug 2024UK£251.4bUK£391.9bUK£20.3b12.1x12.4x0.6x
Sat, 27 Jul 2024UK£260.8bUK£402.3bUK£21.8b12.6x12x0.6x
Mon, 24 Jun 2024UK£265.0bUK£409.6bUK£22.2b9.9x11.9x0.6x
Wed, 22 May 2024UK£271.2bUK£407.7bUK£22.2b10.8x12.2x0.7x
Fri, 19 Apr 2024UK£277.4bUK£434.7bUK£28.8b7.2x9.6x0.6x
Sun, 17 Mar 2024UK£256.2bUK£425.2bUK£27.5b6.8x9.3x0.6x
Tue, 13 Feb 2024UK£252.5bUK£429.7bUK£26.9b6.7x9.4x0.6x
Thu, 11 Jan 2024UK£269.0bUK£613.6bUK£62.9b3.8x4.3x0.4x
Sat, 09 Dec 2023UK£275.8bUK£620.8bUK£63.6b4x4.3x0.4x
Mon, 06 Nov 2023UK£290.2bUK£627.0bUK£64.0b4x4.5x0.5x
Wed, 04 Oct 2023UK£293.4bUK£655.1bUK£59.0b4.6x5x0.4x
Fri, 01 Sep 2023UK£276.4bUK£631.8bUK£57.0b4.8x4.8x0.4x
Sun, 30 Jul 2023UK£282.0bUK£640.2bUK£63.8b4.7x4.4x0.4x
Tue, 27 Jun 2023UK£267.9bUK£665.2bUK£76.1b4.6x3.5x0.4x
Thu, 25 May 2023UK£280.8bUK£679.8bUK£78.1b4.8x3.6x0.4x
Sat, 22 Apr 2023UK£295.6bUK£669.7bUK£54.4b4.8x5.4x0.4x
Mon, 20 Mar 2023UK£272.3bUK£679.6bUK£56.1b4.3x4.9x0.4x
Wed, 15 Feb 2023UK£328.3bUK£675.6bUK£56.4b4x5.8x0.5x
Price to Earnings Ratio

5.8x


Total Market Cap: UK£328.3bTotal Earnings: UK£56.4bTotal Revenue: UK£675.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Oil and Gas Industry Price to Earnings3Y Average 14.4x202420252026
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 17.7x which is higher than its 3-year average PE of 14.4x.
  • The industry is trading close to its 3-year average PS ratio of 0.62x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 37% per year over the last three years,
  • Revenues have also declined 19% 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 Market1.13%
Energy0.095%
Oil and Gas0.075%
Oil and Gas Exploration and Production0.81%
Integrated Oil and Gas0.47%
Oil and Gas Storage and Transportation-0.37%
Oil and Gas Refining and Marketing-4.82%
Coal and Fuels-5.74%
Industry PE
  • Investors are most optimistic about the Integrated Oil and Gas industry which is trading above its 3-year average PE ratio of 12.2x.
    • Analysts are expecting annual earnings growth of 11.6%, which is higher than its past year's earnings decline of 16.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Exploration and Production industry, expecting annual earnings growth of 37% 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 6.9% 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
BP. BPUK£4.783.1%
+UK£2.1b		10.3%PE66x
SEPL Seplat EnergyUK£3.647.9%
+UK£159.0m		80.2%PE14.4x
ENOG EnergeanUK£8.581.2%
+UK£19.3m		-11.6%PE15.6x
GCM GCM ResourcesUK£0.1159.4%
+UK£14.5m		609.7%PB1x
ITH Ithaca EnergyUK£1.840.4%
+UK£13.2m		43.8%PS1.4x

Latest News

SHEL
UK£27.75
Shell
7D
-0.7%
1Y
4.9%
GENL
UK£0.60
Genel Energy
7D
-4.2%
1Y
-8.0%
HBR
UK£2.28
Harbour Energy
7D
-1.9%
1Y
-1.0%
KAP
US$77.60
National Atomic Company Kazatomprom JSC
7D
-5.6%
1Y
107.5%

KAP: Japanese Supply Deal And 2026 Guidance Will Support Steady Outlook

Analysts have trimmed their price target for National Atomic Company Kazatomprom JSC slightly, citing updated assumptions that reflect a modestly higher revenue growth outlook, a small adjustment to profit margin expectations, and a lower future P/E multiple. What's in the News Kazatomprom issued production and earnings guidance for 2026, indicating expected group sales volumes in a range of 19,500 tU to 20,500 tU, with KAP sales volumes between 13,100 tU and 14,100 tU, and total production on a 100% basis targeted between 27,500 tU and 29,000 tU (Key Developments).
SQZ
UK£2.09
Serica Energy
7D
-3.0%
1Y
50.9%

SQZ: Rising Production And Expanded Resources Will Support Stronger Medium-Term Cash Flows

Analysts have raised their fair value estimate for Serica Energy from £2.48 to £2.57, citing updated assumptions around discount rates, revenue growth, profit margins and a higher future P/E multiple as the key drivers of the change. What's in the News Serica Energy reported fourth quarter 2025 production of 33,500 boepd and full year 2025 average production of 27,600 boepd, compared with 34,600 boepd a year earlier (company announcement of operating results).
BP.
UK£4.78
BP
7D
3.1%
1Y
10.3%

BP.: Future Returns Will Balance Portfolio Sales Softer Crude And Leadership Change

Analysts have trimmed their BP price targets by a few dollars or pence overall, reflecting slightly lower fair value estimates and revenue growth assumptions. This has been partially offset by a small uplift in expected profit margins and future P/E, as firms reassess the company around a softer crude outlook, refining tailwinds, and an upcoming CEO transition.
JSE
UK£0.23
Jadestone Energy
7D
-9.7%
1Y
-15.6%

JSE: Discounted Producing Assets Will Support Higher Future Earnings Multiple

Analysts have nudged their price target for Jadestone Energy slightly higher, citing small adjustments to fair value, discount rate, revenue growth, profit margin and forward P/E assumptions. Valuation Changes Fair Value: updated from 0.807649 to 0.827318, representing a small upward adjustment in the modelled estimate.
ITH
UK£1.84
Ithaca Energy
7D
0.4%
1Y
43.8%

Is Ithaca Energy (LON:ITH) Using Too Much Debt?

Feb 03
Is Ithaca Energy (LON:ITH) Using Too Much Debt?
ZPHR
UK£0.036
Zephyr Energy
7D
20.0%
1Y
16.1%

Zephyr Energy plc's (LON:ZPHR) P/S Still Appears To Be Reasonable

Jan 29
Zephyr Energy plc's (LON:ZPHR) P/S Still Appears To Be Reasonable
ENOG
UK£8.58
Energean
7D
1.2%
1Y
-11.6%

Long Contracted Gas And Carbon Storage Will Support Steadier Eastern Mediterranean Cash Flows

Catalysts About Energean Energean is an oil and gas producer focused on gas weighted assets in the Eastern Mediterranean and wider Europe. What are the underlying business or industry changes driving this perspective?
GCM
UK£0.11
GCM Resources
7D
59.4%
1Y
609.7%
SEPL
UK£3.64
Seplat Energy
7D
7.9%
1Y
80.2%

SEPL: Future ANOH Gas Output And Stake Sale Will Drive Repricing

Analysts have lifted their price target for Seplat Energy, citing an updated fair value estimate of 4.06x (from 1.94x), a lower discount rate of 14.05%, slightly adjusted revenue growth expectations and a higher future P/E multiple of 50.40x, partly offset by a reduced profit margin assumption of 2.88%. What's in the News ANOH gas project has achieved first gas, with four upstream wells brought online and wet gas production stabilizing around 40 to 52 MMscfd of processed gas to Indorama, plus condensate output of about 2.0 to 2.5 kboepd, with the plant designed for 300 MMscfd capacity and zero routine flares (Key Developments).
RKH
UK£0.72
Rockhopper Exploration
7D
2.0%
1Y
92.5%
KIST
UK£2.50
Kistos Holdings
7D
6.4%
1Y
93.1%

Kistos Holdings Plc (LON:KIST) Screens Well But There Might Be A Catch

Jan 15
Kistos Holdings Plc (LON:KIST) Screens Well But There Might Be A Catch
UPL
UK£0.03
Upland Resources
7D
-10.4%
1Y
135.3%
YCA
UK£6.28
Yellow Cake
7D
-8.1%
1Y
30.8%