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

UpdatedAug 25, 2026
DataAggregated Company Financials
Companies62
  • 7D2.2%
  • 3M4.3%
  • 1Y27.8%
  • YTD24.4%

In the last week, the Oil and Gas industry is up 3.2%, with Shell up 2.0%. In the last 12 months, the industry was up 29%. As for the next few years, earnings are expected to grow by 1.6% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 25 Aug 2026UK£295.5bUK£407.8bUK£24.2b16.8x12.2x0.7x
Thu, 23 Jul 2026UK£290.2bUK£375.1bUK£17.1b15.8x17x0.8x
Sat, 20 Jun 2026UK£267.0bUK£378.6bUK£16.9b16.4x15.8x0.7x
Mon, 18 May 2026UK£289.2bUK£378.5bUK£16.5b14.1x17.5x0.8x
Wed, 15 Apr 2026UK£299.8bUK£367.7bUK£13.2b13.3x22.7x0.8x
Fri, 13 Mar 2026UK£293.5bUK£374.2bUK£13.4b11.5x21.9x0.8x
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
Price to Earnings Ratio

4.8x


Total Market Cap: UK£276.4bTotal Earnings: UK£57.0bTotal Revenue: UK£631.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Oil and Gas Industry Price to Earnings3Y Average 16.9x202420252026
Current Industry PE
  • Investors are pessimistic on the British Oil and Gas industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 12.3x which is lower than its 3-year average PE of 16.9x.
  • The industry is trading close to its 3-year average PS ratio of 0.68x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 25% per year over the last three years,
  • Revenues have also declined 14% 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 Market1.40%
Energy2.12%
Oil and Gas2.18%
Oil and Gas Exploration and Production5.11%
Integrated Oil and Gas2.24%
Oil and Gas Refining and Marketing0.075%
Oil and Gas Storage and Transportation0%0
Coal and Fuels-1.38%
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 15.0%, which is lower than the prior year's growth of 124.5% per year.
  • Investors are most pessimistic about the Coal and Fuels industry, which is trading below its 3-year average of 7.5x.
Forecasted Growth
  • Analysts are most optimistic on the Coal and Fuels industry, expecting annual earnings growth of 16% over the next 5 years.
  • This is better than its past earnings decline of 4.6% per year.
  • In contrast, the Integrated Oil and Gas industry is expected to see its earnings growth to stay flat 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£33.972.0%
+UK£3.5b		26.2%PE9.9x
BP. BPUK£5.342.7%
+UK£2.2b		26.0%PE20.7x
ITH Ithaca EnergyUK£2.7110.8%
+UK£435.8m		22.6%PE23.4x
SEPL Seplat EnergyUK£6.435.6%
+UK£204.0m		165.2%PE17.8x
HBR Harbour EnergyUK£2.552.3%
+UK£99.8m		10.7%PE19.1x

Latest News

SHEL
UK£33.97
Shell
7D
2.0%
1Y
26.2%
QHE
UK£0.021
Quantum Helium
7D
-17.6%
1Y
-25.0%
KAP
US$71.50
National Atomic Company Kazatomprom JSC
7D
-2.2%
1Y
61.8%
ITH
UK£2.71
Ithaca Energy
7D
10.8%
1Y
22.6%
NOG
UK£0.0065
Nostrum Oil & Gas
7D
-74.0%
1Y
-80.0%
ZEN
UK£0.047
Zenith Energy
7D
-6.0%
1Y
25.3%
BP.
UK£5.34
BP
7D
2.7%
1Y
26.0%
TLW
UK£0.20
Tullow Oil
7D
28.9%
1Y
79.4%
Narrative Update • Aug 14

TLW: Higher Production Outlook Will Still Limit Future Share Upside

Analysts have lifted their fair value estimate for Tullow Oil from £0.05 to about £0.06, citing updated assumptions on the discount rate, revenue trajectory, profit margin and future P/E as the key drivers of the revised price target. What's in the News for Tullow Oil Tullow Oil issued new corporate guidance indicating that group working interest production in 2026 is expected to be at the high end of the previously stated range of 34 kboepd to 42 kboepd.
SEPL
UK£6.43
Seplat Energy
7D
5.6%
1Y
165.2%
Narrative Update • Aug 13

SEPL: Higher P/E Expectations And Solid Output Will Support Future Returns

Analysts have lifted their fair value estimate for Seplat Energy to align with a higher price target of £6.65 from £6.55, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E expectations. What’s in the News for Seplat Energy Seplat Energy kept its 2026 production guidance unchanged at 135 kboepd to 155 kboepd, with management indicating that current output is tracking towards the midpoint of this range.
HBR
UK£2.55
Harbour Energy
7D
2.3%
1Y
10.7%
Narrative Update • Aug 12

HBR: Higher Cash Returns And Production Delivery Will Support Reappraisal

Harbour Energy's analyst price target has been adjusted higher to £2.80 per share, with analysts pointing to recent upgrades to Neutral ratings, stronger first half results, a £250m buyback plan, and updated free cash flow guidance as key drivers for the change. Analyst Commentary on Harbour Energy Recent research on Harbour Energy points to a more balanced stance among major banks, with several analysts highlighting improved execution and clearer cash return plans as reasons to revisit the stock's valuation.
JOG
UK£1.05
Jersey Oil and Gas
7D
-10.6%
1Y
-1.9%
YCA
UK£5.96
Yellow Cake
7D
3.7%
1Y
22.9%
Analysis Article • Aug 04

Weak Statutory Earnings May Not Tell The Whole Story For Yellow Cake (LON:YCA)

Yellow Cake plc's ( LON:YCA ) recent weak earnings report didn't cause a big stock movement. We think that investors...
HE1
UK£0.0039
Helium One Global
7D
-3.7%
1Y
-24.3%
ENOG
UK£7.71
Energean
7D
5.0%
1Y
-18.8%
RKH
UK£0.73
Rockhopper Exploration
7D
-1.5%
1Y
0.5%
ENW
UK£0.12
Enwell Energy
7D
-3.9%
1Y
-38.8%