Seplat Energy (LON:SEPL) Hits New 1-Year High on Analyst Upgrade

Key Points

• Seplat Energy shares hit a new 52-week high after Citigroup raised its price target from GBX 415 to GBX 655 and kept a buy rating; the stock traded as high as GBX 575 (last GBX 569) while Canaccord also raised its target to GBX 570, leaving a consensus average target of GBX 612.50.
• Seplat is Nigeria’s leading indigenous independent oil and gas producer, averaging 48,152 boepd in 9M 2023 including 117 MMscfd (≈20,083 boepd) of processed natural gas for domestic power, and is positioning itself around Nigeria’s energy transition.
• The company has a market cap of £3.43 billion, a P/E of 21.19 and PEG of 0.09, with a debt-to-equity ratio of 61.26 and 50/200-day moving averages at GBX 475 and GBX 358, and the stock was reported up about 2.3%.

Seplat Energy Plc (LON:SEPL - Get Free Report) shares hit a new 52-week high on Wednesday after Citigroup raised their price target on the stock from GBX 415 to GBX 655. Citigroup currently has a buy rating on the stock. Seplat Energy traded as high as GBX 575 and last traded at GBX 569, with a volume of 166751 shares trading hands. The stock had previously closed at GBX 559.

Separately, Canaccord Genuity Group upped their target price on shares of Seplat Energy from GBX 550 to GBX 570 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of GBX 612.50.

Seplat Energy Stock Up 2.3%

The firm has a market capitalization of £3.43 billion, a P/E ratio of 21.19, a PEG ratio of 0.09 and a beta of 0.05. The company has a debt-to-equity ratio of 61.26, a quick ratio of 1.40 and a current ratio of 1.09. The business's fifty day moving average price is GBX 475.02 and its two-hundred day moving average price is GBX 357.94.

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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