Seplat Energy (LON:SEPL) Sets New 52-Week High - Here's What Happened

Key Points

• 52-week high: Seplat Energy shares traded as high as GBX 620 and last at GBX 613.05 on volume of 775,141 shares, up about 3.0% during the session.
• Analysts bullish: Two analysts have Buy ratings and the consensus price target is GBX 675, with Canaccord and Citigroup recently reaffirming/raising targets.
• Company fundamentals: Market cap £3.65 billion, P/E 20.3, and production of ~48,152 boepd in 9M 2023 as Seplat positions itself in Nigeria’s energy transition.

Seplat Energy Plc (LON:SEPL - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as GBX 620 and last traded at GBX 613.05, with a volume of 775141 shares trading hands. The stock had previously closed at GBX 591.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SEPL shares. Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 695 price objective on shares of Seplat Energy in a research note on Friday. Citigroup upped their price objective on shares of Seplat Energy from GBX 415 to GBX 655 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of GBX 675.

Seplat Energy Trading Up 3.0%

The stock has a market capitalization of £3.65 billion, a P/E ratio of 20.30, a P/E/G ratio of 0.09 and a beta of 0.61. The firm's 50 day moving average price is GBX 481.74 and its 200 day moving average price is GBX 361.96. The company has a debt-to-equity ratio of 57.57, a current ratio of 1.18 and a quick ratio of 1.40.

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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