Seplat Energy (LON:SEPL) Reaches New 12-Month High - Here's Why

Key Points

• Seplat Energy reached a new 52-week high, trading as high as GBX 893 and last changing hands at GBX 885.33, up from its previous close of GBX 847.
• Analysts maintain a positive outlook, with Seplat carrying an average “Buy” rating and a consensus price target of GBX 782.50, although the stock is currently trading above that target.
• Insider confidence was highlighted by Tony O. Elumelu’s purchase of 6 million shares for £53.22 million; company insiders collectively own 37.98% of Seplat’s shares.

Seplat Energy Plc (LON:SEPL - Get Free Report) reached a new 52-week high during trading on Friday. The stock traded as high as GBX 893 and last traded at GBX 885.33, with a volume of 78,405 shares trading hands. The stock had previously closed at GBX 847.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a GBX 690 price target on shares of Seplat Energy in a research note on Thursday, July 30th. Citigroup upped their price objective on shares of Seplat Energy from GBX 665 to GBX 875 and gave the company a "buy" rating in a research note on Wednesday, September 9th. Two analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Seplat Energy presently has an average rating of "Buy" and an average price target of GBX 782.50.

Seplat Energy Price Performance

The firm has a market cap of £5.32 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 0.09 and a beta of 0.11. The company has a current ratio of 1.05, a quick ratio of 1.40 and a debt-to-equity ratio of 47.14. The stock's fifty day moving average price is GBX 780.84 and its 200-day moving average price is GBX 567.76.

Insider Buying and Selling at Seplat Energy

In other Seplat Energy news, insider Tony O. Elumelu purchased 6,000,000 shares of the company's 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. Company insiders own 37.98% of the company's stock.

Seplat Energy Company Profile

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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