Seplat Energy (LON:SEPL) Given New GBX 570 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised its price target on Seplat Energy from GBX 550 to GBX 570 and kept a "buy" rating, implying roughly a 31.34% upside from the prior close.
• Seplat shares traded at GBX 434 (near the 52-week high of GBX 440) with a market cap of £2.60 billion and a P/E of 12.55, while average volume was well above Thursday's turnover.
• Seplat is Nigeria's leading indigenous independent oil and gas producer, averaging 48,152 boepd in 9M 2023 (including 117 MMscfd of processed gas) and is focused on supporting Nigeria's energy transition.

Seplat Energy (LON:SEPL - Get Free Report) had its price target boosted by stock analysts at Canaccord Genuity Group from GBX 550 to GBX 570 in a note issued to investors on Thursday, MarketBeat reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's target price suggests a potential upside of 31.34% from the company's previous close.

Seplat Energy Stock Performance

Shares of Seplat Energy stock traded up GBX 4.50 on Thursday, hitting GBX 434. The stock had a trading volume of 75,415 shares, compared to its average volume of 710,570. The stock has a market cap of £2.60 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 0.09 and a beta of 0.13. The company has a current ratio of 1.09, a quick ratio of 1.40 and a debt-to-equity ratio of 61.26. Seplat Energy has a 52-week low of GBX 152.80 and a 52-week high of GBX 440. The company's 50 day moving average price is GBX 347.56 and its 200 day moving average price is GBX 297.10.

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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