Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

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

UpdatedJul 11, 2026
DataAggregated Company Financials
Companies60
  • 7D3.9%
  • 3M-12.1%
  • 1Y18.0%
  • YTD12.0%

In the last week, the Oil and Gas industry is up 3.9%, with Shell up 5.1%. This means that the industry has gained 18% over the past year. As for the next few years, earnings are expected to grow by 8.1% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 11 Jul 2026UK£265.8bUK£374.1bUK£16.7b17.7x15.9x0.7x
Mon, 08 Jun 2026UK£288.0bUK£375.8bUK£16.8b15.2x17.2x0.8x
Wed, 06 May 2026UK£299.0bUK£372.2bUK£15.6b13x19.2x0.8x
Fri, 03 Apr 2026UK£313.6bUK£376.7bUK£13.5b13.6x23.2x0.8x
Sun, 01 Mar 2026UK£266.0bUK£352.9bUK£13.0b8.4x20.4x0.8x
Tue, 27 Jan 2026UK£236.3bUK£347.5bUK£11.6b9.9x20.4x0.7x
Thu, 25 Dec 2025UK£233.7bUK£352.2bUK£11.7b10.1x19.9x0.7x
Sat, 22 Nov 2025UK£245.2bUK£364.5bUK£12.0b10.1x20.4x0.7x
Mon, 20 Oct 2025UK£233.5bUK£356.1bUK£10.1b13.5x23.2x0.7x
Wed, 17 Sep 2025UK£233.8bUK£350.3bUK£9.9b11.6x23.5x0.7x
Fri, 15 Aug 2025UK£233.0bUK£356.3bUK£11.1b11.4x21x0.7x
Sun, 13 Jul 2025UK£235.1bUK£358.5bUK£9.2b10.3x25.7x0.7x
Tue, 10 Jun 2025UK£219.5bUK£356.9bUK£9.1b8.8x24.1x0.6x
Thu, 08 May 2025UK£212.8bUK£363.6bUK£9.4b9x22.6x0.6x
Sat, 05 Apr 2025UK£221.4bUK£379.1bUK£13.0b8.4x17.1x0.6x
Mon, 03 Mar 2025UK£244.3bUK£385.8bUK£13.6b10.5x18x0.6x
Wed, 29 Jan 2025UK£239.6bUK£405.8bUK£15.2b8.5x15.7x0.6x
Fri, 27 Dec 2024UK£224.2bUK£403.0bUK£15.1b8.5x14.8x0.6x
Sun, 24 Nov 2024UK£237.6bUK£403.3bUK£15.5b8.9x15.3x0.6x
Tue, 22 Oct 2024UK£235.9bUK£397.8bUK£20.7b9.2x11.4x0.6x
Thu, 19 Sep 2024UK£239.2bUK£391.7bUK£20.5b8.6x11.7x0.6x
Sat, 17 Aug 2024UK£258.8bUK£399.3bUK£20.6b12x12.5x0.6x
Mon, 15 Jul 2024UK£263.1bUK£398.8bUK£21.6b10.3x12.2x0.7x
Wed, 12 Jun 2024UK£263.4bUK£406.7bUK£22.0b11.4x11.9x0.6x
Fri, 10 May 2024UK£280.0bUK£414.0bUK£22.6b10.3x12.4x0.7x
Sun, 07 Apr 2024UK£273.2bUK£428.0bUK£28.3b7.3x9.6x0.6x
Tue, 05 Mar 2024UK£247.7bUK£427.6bUK£26.8b5.7x9.2x0.6x
Thu, 01 Feb 2024UK£269.1bUK£615.8bUK£63.1b3.8x4.3x0.4x
Sat, 30 Dec 2023UK£284.7bUK£613.2bUK£62.9b3.9x4.5x0.5x
Mon, 27 Nov 2023UK£282.9bUK£618.2bUK£63.4b4x4.5x0.5x
Wed, 25 Oct 2023UK£303.0bUK£651.9bUK£58.7b4.4x5.2x0.5x
Fri, 22 Sep 2023UK£295.0bUK£647.0bUK£58.4b4.1x5x0.5x
Sun, 20 Aug 2023UK£270.7bUK£629.7bUK£58.2b4.7x4.6x0.4x
Tue, 18 Jul 2023UK£264.6bUK£651.7bUK£74.6b4.3x3.5x0.4x
Price to Earnings Ratio

3.5x


Total Market Cap: UK£264.6bTotal Earnings: UK£74.6bTotal Revenue: UK£651.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Oil and Gas Industry Price to Earnings3Y Average 16.5x202420252026
Current Industry PE
  • Investors are relatively neutral on the British Oil and Gas industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 16.5x.
  • The industry is trading close to its 3-year average PS ratio of 0.67x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 39% per year over the last three years,
  • Revenues have also declined 17% 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-1.66%
Energy3.94%
Oil and Gas3.95%
Integrated Oil and Gas4.54%
Oil and Gas Refining and Marketing2.75%
Oil and Gas Exploration and Production0.47%
Oil and Gas Storage and Transportation-0.73%
Coal and Fuels-1.21%
Industry PE
  • Investors are most optimistic about the Oil and Gas Exploration and Production industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 21.0%, which is lower than the prior year's growth of 111.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Exploration and Production industry, expecting annual earnings growth of 21% over the next 5 years.
  • However this is lower than its past earnings growth rate of 111% per year.
  • In contrast, the Integrated Oil and Gas industry is expected to see its earnings grow by 6.8% 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£30.395.1%
+UK£8.2b		13.7%PE12.1x
BP. BPUK£4.833.3%
+UK£2.4b		20.0%PE31.1x
DCC DCCUK£62.753.0%
+UK£158.0m		32.6%PE19.7x
ENOG EnergeanUK£7.305.6%
+UK£72.0m		-20.4%PS1x
HBR Harbour EnergyUK£2.181.8%
+UK£69.2m		6.3%PS0.5x

Latest News

SEPL
UK£5.25
Seplat Energy
7D
1.5%
1Y
129.3%
Narrative Update • Jul 09

SEPL: Revised Fair Value And Higher Future P/E Will Support Returns

Seplat Energy's analyst price target has edged up to £6.65 from £6.55, with analysts pointing to updated fair value estimates, a modest adjustment in discount rate assumptions, slightly different revenue growth and profit margin expectations, and a higher future P/E outlook as key drivers of the change. Analyst Commentary Recent Street research on Seplat Energy highlights a small uplift in the price target to £6.65, which signals that some bullish analysts see incremental upside based on their refreshed assumptions on valuation and execution.
ITH
UK£2.21
Ithaca Energy
7D
0.8%
1Y
31.5%
Narrative Update • Jul 09

ITH: Future Returns Will Depend On North Sea Acquisition Execution

Analysts have raised their price target on Ithaca Energy to £2.72 from £2.24, citing updated assumptions for revenue trends, profit margins and a lower projected future P/E multiple. Together, these factors are seen as providing more support for the stock at higher levels.
BP.
UK£4.83
BP
7D
3.3%
1Y
20.0%
QED
UK£0.01
Quadrise
7D
-41.5%
1Y
-74.0%
SHEL
UK£30.39
Shell
7D
5.1%
1Y
13.7%
SQZ
UK£2.20
Serica Energy
7D
1.7%
1Y
28.8%
Narrative Update • Jul 06

SQZ: Future Cash Flows And P/E Repricing Guide Fair Value Outlook

Analysts have raised their price target on Serica Energy to £3.65 from £3.50, citing updated assumptions around fair value, revenue, profit margins and future P/E as the basis for the change. What’s in the News for Serica Energy Serica Energy is holding an Analyst and Investor Day to discuss planned organic growth projects, giving investors more detail on future project plans and capital allocation priorities.
RKH
UK£0.71
Rockhopper Exploration
7D
-5.1%
1Y
14.2%
DCC
UK£62.75
DCC
7D
3.0%
1Y
32.6%
Narrative Update • Jul 03

DCC: Bid Proposal And Dividend Expectations Will Shape A Cautious Fairly Valued Outlook

The analyst fair value estimate for DCC has increased from £47.08 to £60.00. Analysts point to higher formal price targets and recent bid interest around £65.25 per share, including dividend, as key reasons for the change.
ENOG
UK£7.30
Energean
7D
5.6%
1Y
-20.4%
Narrative Update • Jul 02

ENOG: Angola Deal Uncertainty And Production Reset Will Shape Balanced Outlook

Analysts have reduced their fair value estimate for Energean from £7.80 to £6.80, pointing to updated assumptions for revenue growth, profit margins, discount rate and future P/E as the main drivers of the lower price target. What’s in the News for Energean Energean provided an update on its proposed acquisition from Chevron of a 31% operated interest in Block 14 and a 15.5% non operated interest in Block 14K, offshore Angola, after Chevron received notice that joint venture partner Etu Energias intends to exercise pre emption rights on the same or equivalent terms as the Energean sale and purchase agreement.
HBR
UK£2.18
Harbour Energy
7D
1.8%
1Y
6.3%
Narrative Update • Jul 01

HBR: Existing Cash Flows And Higher Margins Will Drive Future Returns

Harbour Energy's analyst price target has edged lower to about £3.18 from roughly £3.29 as analysts factor in a higher discount rate, a slightly more cautious revenue outlook, and recent target trims such as the move to £3.20 at Jefferies and £2.90 at JPMorgan, while still acknowledging modestly firmer margin and P/E assumptions. Analyst Commentary Recent commentary on Harbour Energy shows a split between analysts who see room for the stock to consolidate earlier gains and those who are more cautious about the company’s next phase of growth and execution.
KAP
US$69.90
National Atomic Company Kazatomprom JSC
7D
-1.1%
1Y
57.8%
Narrative Update • Jun 30

KAP: Uranium Pricing Upswing And 2026 Dividend Will Support Future Upside

Analysts have trimmed their fair value estimate for National Atomic Company Kazatomprom JSC from about $92.32 to $85.20. This reflects a recalibrated price target that balances slightly softer revenue growth assumptions with firmer profit margin and P/E expectations in light of mixed recent Street research.
ENQ
UK£0.22
EnQuest
7D
-4.5%
1Y
69.5%
Narrative Update • Jun 29

ENQ: Gulf Conflict Pricing Support Will Likely Prove Unsustainable Over Time

EnQuest's analyst price targets have moved higher to £0.25 and £0.29, supported by stronger value arguments tied to commodity pricing and recent portfolio moves. This has prompted an upward revision in the fair value estimate to £0.21 and a higher assumed future P/E of 12.5x.
YCA
UK£5.31
Yellow Cake
7D
-1.9%
1Y
8.8%
BOR
UK£0.13
Borders & Southern Petroleum
7D
-7.0%
1Y
81.4%
GKP
UK£1.71
Gulf Keystone Petroleum
7D
-1.5%
1Y
3.1%
Narrative Update • Jun 17

GKP: Rising Dividend Outlook Will Support Bullish Share Price Reassessment

Analysts have raised their price target on Gulf Keystone Petroleum, citing updated assumptions that include a fair value estimate of £2.55, a discount rate of 6.94%, revenue growth of 18.18%, a profit margin of 33.75% and a future P/E of 8.35x. What’s in the News for Gulf Keystone Petroleum Gulf Keystone Petroleum declared a US$12.5 million interim dividend in connection with its 2025 full year results, equal to US$0.0575 per common share.
PANR
UK£0.14
Pantheon Resources
7D
-5.5%
1Y
-39.7%