Seplat Energy (LON:SEPL) Stock Price Target Raised at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised Seplat Energy’s price target to GBX 960 from GBX 900 while maintaining a “buy” rating, implying 9.46% potential upside.
• Citigroup also increased its target to GBX 875 and rated the stock “buy”; analysts’ consensus is “Buy,” with an average target price of GBX 917.50.
• Seplat shares fell 1.2% to GBX 877 in Monday trading, while insider Tony O. Elumelu bought 6 million shares worth £53.22 million.

Seplat Energy (LON:SEPL - Get Free Report) had its price target increased by Canaccord Genuity Group from GBX 900 to GBX 960 in a research note issued to investors on Monday, Digital Look reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 9.46% from the stock's current price.

Separately, Citigroup boosted their price objective on Seplat Energy from GBX 665 to GBX 875 and gave the company a "buy" rating in a research note on Wednesday, September 9th. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Seplat Energy has a consensus rating of "Buy" and an average target price of GBX 917.50.

Seplat Energy Stock Down 1.2%

Shares of LON SEPL traded down GBX 11 during trading on Monday, reaching GBX 877. The company had a trading volume of 144,432 shares, compared to its average volume of 1,300,889. Seplat Energy has a 12-month low of GBX 238 and a 12-month high of GBX 894. The company has a quick ratio of 1.40, a current ratio of 1.16 and a debt-to-equity ratio of 46.97. The business's 50-day moving average is GBX 785.68 and its 200 day moving average is GBX 570.72. The stock has a market cap of £5.26 billion, a PE ratio of 17.54, a P/E/G ratio of 0.09 and a beta of 0.11.

Insider Activity

In other Seplat Energy news, insider Tony O. Elumelu acquired 6,000,000 shares of the stock in a transaction on Wednesday, September 30th. The stock was acquired at an average price of GBX 887 per share, for a total transaction of £53,220,000. 37.98% of the stock is owned by company insiders.

About Seplat Energy

Seplat Energy is Nigeria's leading indigenous, independent oil and gas producer, producing oil and gas production volumes of 48,152 barrels of oil equivalent per day (boepd) in 9M 2023, including 117 MMscfd (20,083 boepd) of processed natural gas for domestic power generation in 9M 2023. Seplat Energy is focused on powering Nigeria's energy transition. Our goal is to help meet the energy needs of Nigeria's rapidly growing population by providing accessible, reliable and sustainable energy, at the same time increasing shareholder value.

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