Seplat Energy (LON:SEPL) Stock Price Crosses Above Fifty Day Moving Average - What's Next?

Key Points

• Seplat Energy's share price exceeded its 50-day moving average of GBX 228.80, reaching a peak of GBX 247.50 during trading.
• The company reported a production volume of 48,152 barrels of oil equivalent per day in the first nine months of 2023, contributing to Nigeria's energy requirements.
• Seplat Energy has a market capitalization of £1.84 billion and a PE ratio of 22.85, indicating a solid financial standing in the market.

Seplat Energy Plc (LON:SEPL - Get Free Report) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 228.80 ($3.04) and traded as high as GBX 247.50 ($3.29). Seplat Energy shares last traded at GBX 243 ($3.23), with a volume of 297,794 shares traded.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated a "buy" rating and issued a GBX 456 ($6.05) price objective on shares of Seplat Energy in a report on Thursday.

Seplat Energy Stock Down 1.3%

The firm has a market capitalization of £1.90 billion, a P/E ratio of 23.63, a PEG ratio of 0.09 and a beta of 0.45. The firm's 50-day moving average is GBX 232.35 and its 200 day moving average is GBX 204.91. The company has a debt-to-equity ratio of 43.24, a quick ratio of 1.40 and a current ratio of 1.48.

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.