Seplat Energy (LON:SEPL) Stock Passes Above Fifty Day Moving Average - Here's What Happened

Key Points

• Seplat Energy's share price rose above its 50-day moving average during trading, closing at GBX 263 ($3.53) with a peak at GBX 268 ($3.60).
• Analysts have expressed optimism, with Canaccord Genuity maintaining a "buy" rating" and a target price of GBX 456 ($6.12), while Citigroup raised its target from GBX 250 ($3.36) to GBX 325 ($4.37).
• Seplat Energy is Nigeria's leading independent oil and gas producer, reporting production of 48,152 barrels of oil equivalent per day in 9M 2023.

Shares of Seplat Energy Plc (LON:SEPL - Get Free Report) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 238.82 ($3.24) and traded as high as GBX 268 ($3.63). Seplat Energy shares last traded at GBX 263 ($3.56), with a volume of 113,014 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Citigroup lifted their price target on Seplat Energy from GBX 250 ($3.39) to GBX 325 ($4.40) and gave the company a "buy" rating in a research note on Monday, August 4th. Canaccord Genuity Group reissued a "buy" rating and set a GBX 456 ($6.18) price target on shares of Seplat Energy in a research note on Thursday, July 31st.

Seplat Energy Stock Performance

The stock has a 50 day moving average of GBX 241.69 and a 200 day moving average of GBX 208.95. The company has a quick ratio of 1.40, a current ratio of 1.48 and a debt-to-equity ratio of 43.24. The company has a market capitalization of £1.85 billion, a price-to-earnings ratio of 23.04, a price-to-earnings-growth ratio of 0.09 and a beta of 0.45.

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.