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

Key Points

• Seplat Energy's share price reached a new 52-week high of GBX 270 ($3.68) with a trading volume of 36,689 shares, an increase from the previous close of GBX 265 ($3.61).
• Analyst upgrades have raised Seplat Energy's target price to GBX 325 by Citigroup and GBX 456 by Canaccord Genuity, contributing to a consensus rating of "Buy" with an average price target of GBX 390.50.
• The firm reported production volumes of 48,152 barrels of oil equivalent per day in 9M 2023, emphasizing its role in powering Nigeria's energy transition.

Seplat Energy Plc (LON:SEPL - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as GBX 270 ($3.64) and last traded at GBX 269.80 ($3.64), with a volume of 36689 shares. The stock had previously closed at GBX 265 ($3.57).

Analysts Set New Price Targets

SEPL has been the subject of several research analyst reports. Canaccord Genuity Group reissued a "buy" rating and issued a GBX 456 price objective on shares of Seplat Energy in a research note on Thursday, July 31st. Citigroup increased their price objective on Seplat Energy from GBX 250 to GBX 325 and gave the stock a "buy" rating in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of GBX 390.50.

Seplat Energy Price Performance

The stock has a 50 day moving average price of GBX 251.86 and a two-hundred day moving average price of GBX 218.86. The company has a debt-to-equity ratio of 43.24, a quick ratio of 1.40 and a current ratio of 1.48. The company has a market capitalization of £1.67 billion, a PE ratio of -8.68, a P/E/G ratio of 0.09 and a beta of 0.45.

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.