Seplat Energy (LON:SEPL) Share Price Crosses Above Fifty Day Moving Average - Here's Why

Key Points

• Shares of Seplat Energy crossed above its 50-day moving average (GBX 399.51), trading as high as GBX 465 and last at GBX 463 on a volume of 1,059,190 shares.
• Canaccord Genuity raised its target price on the stock from GBX 550 to GBX 570 and maintained a Buy rating; the consensus analyst rating is "Buy" with an average price target of GBX 447.50.

Shares of Seplat Energy Plc (LON:SEPL - Get Free Report) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 399.51 and traded as high as GBX 465. Seplat Energy shares last traded at GBX 463, with a volume of 1,059,190 shares.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their target price on shares of Seplat Energy from GBX 550 to GBX 570 and gave the company 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 MarketBeat, the stock has an average rating of "Buy" and a consensus price target of GBX 447.50.

Seplat Energy Price Performance

The stock has a market capitalization of £2.78 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 0.09 and a beta of 0.21. The company has a quick ratio of 1.40, a current ratio of 1.09 and a debt-to-equity ratio of 61.26. The business has a 50-day simple moving average of GBX 399.51 and a two-hundred day simple moving average of GBX 318.90.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.