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

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies60
  • 7D1.6%
  • 3M31.7%
  • 1Y50.4%
  • YTD31.2%

Over the last 7 days, the Oil and Gas industry has risen 1.6%, driven by gains from Shell of 1.8%. This takes the industry's 12 month performance to a gain of 50%. As for the next few years, earnings are expected to grow by 11% 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, 05 Apr 2026UK£313.5bUK£377.5bUK£13.6b13.5x23.1x0.8x
Tue, 03 Mar 2026UK£266.0bUK£352.9bUK£13.0b8.4x20.4x0.8x
Thu, 29 Jan 2026UK£241.7bUK£345.3bUK£11.5b10.5x21x0.7x
Sat, 27 Dec 2025UK£233.7bUK£352.9bUK£11.8b10.1x19.9x0.7x
Mon, 24 Nov 2025UK£245.1bUK£364.3bUK£12.0b10.1x20.4x0.7x
Wed, 22 Oct 2025UK£234.7bUK£357.3bUK£10.1b13.2x23.2x0.7x
Fri, 19 Sep 2025UK£233.4bUK£353.0bUK£10.0b11.8x23.3x0.7x
Sun, 17 Aug 2025UK£234.8bUK£355.8bUK£11.1b11.7x21.2x0.7x
Tue, 15 Jul 2025UK£232.2bUK£360.4bUK£9.2b10.3x25.2x0.6x
Thu, 12 Jun 2025UK£225.9bUK£357.4bUK£9.1b9.3x24.8x0.6x
Sat, 10 May 2025UK£218.5bUK£363.3bUK£9.4b9x23.2x0.6x
Mon, 07 Apr 2025UK£221.6bUK£379.1bUK£13.0b8.4x17.1x0.6x
Wed, 05 Mar 2025UK£234.9bUK£381.5bUK£13.4b10.5x17.5x0.6x
Fri, 31 Jan 2025UK£240.0bUK£405.1bUK£15.2b8.5x15.8x0.6x
Sun, 29 Dec 2024UK£225.6bUK£401.1bUK£15.0b8.6x15x0.6x
Tue, 26 Nov 2024UK£235.0bUK£402.6bUK£15.5b9.2x15.1x0.6x
Thu, 24 Oct 2024UK£234.8bUK£399.4bUK£20.8b9.3x11.3x0.6x
Sat, 21 Sep 2024UK£239.5bUK£387.9bUK£20.4b8.7x11.8x0.6x
Mon, 19 Aug 2024UK£258.8bUK£399.3bUK£20.6b12x12.5x0.6x
Wed, 17 Jul 2024UK£259.9bUK£399.2bUK£21.6b12.7x12x0.7x
Fri, 14 Jun 2024UK£262.4bUK£405.9bUK£22.0b11.3x11.9x0.6x
Sun, 12 May 2024UK£282.7bUK£413.9bUK£22.6b10.3x12.5x0.7x
Tue, 09 Apr 2024UK£276.1bUK£427.2bUK£28.3b7.4x9.8x0.6x
Thu, 07 Mar 2024UK£251.1bUK£425.9bUK£26.7b5.5x9.4x0.6x
Sat, 03 Feb 2024UK£269.6bUK£599.1bUK£55.4b3.8x4.9x0.4x
Mon, 01 Jan 2024UK£279.6bUK£613.1bUK£62.9b3.9x4.4x0.5x
Wed, 29 Nov 2023UK£281.4bUK£614.5bUK£63.0b4x4.5x0.5x
Fri, 27 Oct 2023UK£300.3bUK£654.3bUK£58.9b4.5x5.1x0.5x
Sun, 24 Sep 2023UK£296.6bUK£649.2bUK£58.6b4.1x5.1x0.5x
Tue, 22 Aug 2023UK£270.7bUK£629.5bUK£58.2b4.8x4.6x0.4x
Thu, 20 Jul 2023UK£270.5bUK£658.6bUK£75.3b4.1x3.6x0.4x
Sat, 17 Jun 2023UK£268.6bUK£661.1bUK£75.7b4.6x3.5x0.4x
Mon, 15 May 2023UK£282.3bUK£676.2bUK£77.7b4.9x3.6x0.4x
Wed, 12 Apr 2023UK£297.1bUK£670.0bUK£54.4b4.5x5.5x0.4x
Price to Earnings Ratio

5.5x


Total Market Cap: UK£297.1bTotal Earnings: UK£54.4bTotal Revenue: UK£670.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Oil and Gas Industry Price to Earnings3Y Average 15.2x202420252026
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 23.1x which is higher than its 3-year average PE of 15.2x.
  • The industry is trading close to its 3-year average PS ratio of 0.64x.
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 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 Market4.54%
Energy1.56%
Oil and Gas1.56%
Oil and Gas Refining and Marketing4.46%
Integrated Oil and Gas1.59%
Oil and Gas Exploration and Production1.24%
Coal and Fuels0.61%
Oil and Gas Storage and Transportation-0.38%
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 29.9%, 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 30% over the next 5 years.
  • This is better than its past earnings decline of 50% per year.
  • In contrast, the Coal and Fuels industry is expected to see its earnings grow by 7.6% 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£35.441.8%
+UK£3.3b		42.8%PE14.8x
BP. BPUK£5.911.2%
+UK£1.1b		59.5%PE2220.1x
DCC DCCUK£47.844.4%
+UK£172.6m		-1.0%PE31.9x
RKH Rockhopper ExplorationUK£0.9019.8%
+UK£126.8m		127.4%PE21.8x
ITH Ithaca EnergyUK£2.542.6%
+UK£107.3m		91.3%PS1.9x

Latest News

BP.
UK£5.91
BP
7D
1.2%
1Y
59.5%

BP.: Future Returns Will Reflect Middle East Supply Risks And Mixed Oil Outlook

Analysts have lifted their average price target on BP by £0.58, citing updated views on fair value, revenue growth assumptions, discount rates and future P/E levels, as reflected in a series of recent target raises and rating changes across major banks. Analyst Commentary Recent research on BP shows a mix of optimism and caution, with price targets adjusted in both directions and several rating changes across major banks.
GKP
UK£2.03
Gulf Keystone Petroleum
7D
-3.3%
1Y
29.0%

GKP: Higher Production Guidance And Dividend Stream Will Support Future Rerating

Analysts have nudged their price target for Gulf Keystone Petroleum slightly higher to £2.81 from £2.79, reflecting updated assumptions on revenue growth, profit margins and a modestly lower future P/E multiple in their models. What's in the News Gulf Keystone Petroleum declared a $12.5 million interim dividend in connection with its 2025 full year results, equal to $0.0575 per common share, with approval on 18 March 2026 and payment scheduled for 27 April 2026 (company announcement).
CNE
UK£3.30
Capricorn Energy
7D
19.8%
1Y
49.0%
SHEL
UK£35.44
Shell
7D
1.8%
1Y
42.8%

SHEL: Future Returns Will Reflect LNG Disruptions And Middle East Supply Risks

Shell's updated analyst price target has moved higher to £34.65 from £32.62, as analysts factor in revised oil and gas price assumptions, tighter projected crude balances linked to Middle East supply risks, and a slightly higher future P/E multiple, offset in part by more modest profit margin expectations. Analyst Commentary Recent research on Shell shows a mix of optimism and caution, with several firms adjusting price targets in response to commodity assumptions, geopolitical risks and company specific execution.
HBR
UK£2.87
Harbour Energy
7D
-1.7%
1Y
65.3%
DCC
UK£47.84
DCC
7D
4.4%
1Y
-1.0%

DCC: Cooler Sector Views And 2026 Guidance Will Shape A Cautious Outlook

Analysts have trimmed their price target on DCC to £57.50 from £61.50. This reflects more cautious views on European business services and chemical distribution, while still factoring in steady margin assumptions and a slightly lower forward P/E multiple.
JSE
UK£0.28
Jadestone Energy
7D
-1.8%
1Y
27.9%
ENOG
UK£8.43
Energean
7D
-2.8%
1Y
6.7%

ENOG: Angola Deal And Production Suspension Will Shape A More Balanced 2026

Analysts have reduced their price targets on Energean by £0.02 to £9.30, citing lower assumptions for revenue growth and profit margins, as well as a higher discount rate and a higher future P/E multiple, in response to recent research updates from Jefferies and Berenberg. Analyst Commentary Bullish Takeaways Bullish analysts still see room for upside if Energean can deliver on revenue growth targets, arguing that the current price target of £9.30 already reflects tougher assumptions on margins and discount rates.
SEA
UK£0.73
Seascape Energy Asia
7D
-4.5%
1Y
141.0%
GENL
UK£0.52
Genel Energy
7D
-1.7%
1Y
-4.2%
ITH
UK£2.54
Ithaca Energy
7D
2.6%
1Y
91.3%
KAP
US$80.30
National Atomic Company Kazatomprom JSC
7D
0.4%
1Y
141.9%

KAP: Long Term Uranium Contracts Will Support Stronger Outlook

Analysts have revised their price target for National Atomic Company Kazatomprom JSC to $96.78 from $93.91, reflecting updated assumptions for revenue growth, profit margins, and a lower expected future P/E multiple. What's in the News A special shareholders meeting is set for April 6, 2026 to consider approving a major transaction involving assets valued at more than 50% of Kazatomprom's total book value.
UPL
UK£0.029
Upland Resources
7D
-10.6%
1Y
195.0%
YCA
UK£5.99
Yellow Cake
7D
3.1%
1Y
52.8%
RKH
UK£0.90
Rockhopper Exploration
7D
19.8%
1Y
127.4%
KIST
UK£2.45
Kistos Holdings
7D
-5.8%
1Y
82.8%

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