Seplat Energy (LON:SEPL) Hits New 52-Week High on Analyst Upgrade

Key Points

• Seplat Energy's shares reached a new 52-week high after Citigroup raised its price target from GBX 250 to GBX 325, maintaining a buy rating on the stock.
• Canaccord Genuity Group also reaffirmed a buy rating, setting a higher price target of GBX 456 ($6.06) for Seplat Energy shares.
• The company, which focuses on Nigeria's energy transition, is currently producing 48,152 barrels of oil equivalent per day as of 9M 2023.

Seplat Energy Plc (LON:SEPL - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday after Citigroup raised their price target on the stock from GBX 250 to GBX 325. Citigroup currently has a buy rating on the stock. Seplat Energy traded as high as GBX 269.50 ($3.62) and last traded at GBX 269.50 ($3.62), with a volume of 66690 shares changing hands. The stock had previously closed at GBX 262.50 ($3.53).

Separately, Canaccord Genuity Group restated a "buy" rating and issued a GBX 456 ($6.13) price objective on shares of Seplat Energy in a research report on Thursday, July 31st.

Seplat Energy Stock Performance

The stock's 50-day simple moving average is GBX 237.90 and its 200-day simple moving average is GBX 207.02. The stock has a market cap of £1.96 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 0.09 and a beta of 0.45. The company has a current ratio of 1.48, a quick ratio of 1.40 and a debt-to-equity ratio of 43.24.

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.