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

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

UpdatedJul 15, 2026
DataAggregated Company Financials
Companies60
  • 7D5.3%
  • 3M-6.9%
  • 1Y25.0%
  • YTD16.7%

In the last week, the Oil and Gas industry is up 5.3%, with Shell leading the way, up 4.5%. This means that the industry has gained 25% over the past year. Earnings are forecast to grow by 8.0% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 15 Jul 2026UK£277.8bUK£374.4bUK£16.7b17.6x16.6x0.7x
Fri, 12 Jun 2026UK£290.8bUK£373.7bUK£16.7b14.8x17.4x0.8x
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
Price to Earnings Ratio

3.7x


Total Market Cap: UK£276.3bTotal Earnings: UK£75.5bTotal Revenue: UK£660.3bTotal 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-0.95%
Energy5.35%
Oil and Gas5.35%
Integrated Oil and Gas5.83%
Oil and Gas Exploration and Production5.11%
Oil and Gas Refining and Marketing1.81%
Coal and Fuels-0.72%
Oil and Gas Storage and Transportation-1.77%
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 20.7%, 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 6.7% 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£31.474.5%
+UK£7.6b		20.0%PE12.5x
BP. BPUK£5.178.8%
+UK£6.5b		29.8%PE33.3x
HBR Harbour EnergyUK£2.306.6%
+UK£258.5m		14.8%PS0.5x
SEPL Seplat EnergyUK£5.588.3%
+UK£258.0m		136.9%PE25.8x
ITH Ithaca EnergyUK£2.376.0%
+UK£221.2m		46.9%PE21.6x

Latest News

BP.
UK£5.08
BP
7D
3.3%
1Y
28.2%
AEX
UK£0.013
Aminex
7D
-48.8%
1Y
-16.9%
KAP
US$67.80
National Atomic Company Kazatomprom JSC
7D
1.0%
1Y
54.4%
Narrative Update • Jul 14

KAP: Uranium Upside And Dividend Payout Will Shape A Mixed Outlook

Analysts have trimmed their fair value estimate for Kazatomprom to about $68.84 from $72.03, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E after recent research framed the stock as both a direct play on the uranium cycle and a company facing mixed views on its valuation and rating trajectory. Analyst Commentary on National Atomic Company Kazatomprom JSC Recent research on National Atomic Company Kazatomprom JSC highlights a split view, with some firms emphasizing the stock as a direct way to gain exposure to the uranium cycle, while others are more reserved about valuation and the path of future ratings.
ENQ
UK£0.23
EnQuest
7D
-0.6%
1Y
81.8%
Narrative Update • Jul 13

ENQ: Commodity Support And Portfolio Execution Will Drive Medium Term Upside

EnQuest's updated analyst price targets, moving from £0.29 to £0.35 per share, reflect analysts' incorporation of recent research that highlights portfolio actions and commodity price support, along with revised assumptions for fair value, discount rate, revenue trends, profit margins and future P/E. Analyst Commentary Recent research on EnQuest has centred on how valuation lines up with its current portfolio positioning and commodity exposure, with several bullish analysts updating their fair value work and price targets in quick succession.
CHAR
UK£0.015
Chariot
7D
-5.7%
1Y
2.8%
GENL
UK£0.51
Genel Energy
7D
-9.2%
1Y
-15.2%
Narrative Update • Jul 10

GENL: Fair Outlook Balances Tawke Restart Progress With Execution And Security Risks

Analysts have lifted the implied price target for Genel Energy to reflect a higher fair value estimate of £0.60, supported by assumptions of stronger revenue growth, a much higher profit margin and a revised P/E multiple, similar to recent price target adjustments seen across other covered stocks. Analyst Commentary Recent Street research on industrial peer GEA Group offers some useful context for how analysts are thinking about valuation and risk that can also matter for sentiment toward Genel Energy.
SEPL
UK£5.59
Seplat Energy
7D
6.1%
1Y
139.9%
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£2.30
Ithaca Energy
7D
0.3%
1Y
41.1%
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.
TLW
UK£0.13
Tullow Oil
7D
-3.6%
1Y
-11.6%
Narrative Update • Jul 08

TLW: Lower Production And Compressed Margins Will Restrict Future Share Upside

Analysts have revised their fair value estimate for Tullow Oil from £0.01 to £0.05, citing updated assumptions on discount rates, revenue trends, profit margins and future P/E levels as the key drivers of the new price target. What's in the News for Tullow Oil Tullow Oil reported group working interest oil and gas production of 40.4 kboepd for the year ended 31 December 2025, compared with 51.5 kboepd in 2024.
SHEL
UK£31.30
Shell
7D
1.6%
1Y
20.0%
ZPHR
UK£0.034
Zephyr Energy
7D
-4.2%
1Y
13.3%
RKH
UK£0.73
Rockhopper Exploration
7D
-1.8%
1Y
16.0%
DCC
UK£63.05
DCC
7D
1.7%
1Y
34.4%
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£7.31
Energean
7D
2.8%
1Y
-20.3%
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.
YCA
UK£5.31
Yellow Cake
7D
1.0%
1Y
7.0%
BOR
UK£0.12
Borders & Southern Petroleum
7D
-5.0%
1Y
82.2%