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

Key Points

• Seplat Energy shares have recently crossed above their fifty-day moving average, trading at GBX 281 ($3.75), with a peak of GBX 284 ($3.79) during the session.
• Analysts have set new price targets for Seplat Energy, with Citigroup raising their target from GBX 250 to GBX 325 and Canaccord Genuity maintaining a target of GBX 456, both providing a "buy" rating.
• Seplat Energy is a leading oil and gas producer in Nigeria, reporting production volumes of 48,152 barrels of oil equivalent per day as of 9M 2023, with a focus on supporting the country's energy transition.

Shares of Seplat Energy Plc (LON:SEPL - Get Free Report) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 255.59 ($3.41) and traded as high as GBX 284 ($3.79). Seplat Energy shares last traded at GBX 281 ($3.75), with a volume of 88,546 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SEPL shares. Citigroup increased their price target on Seplat Energy from GBX 250 to GBX 325 and gave the company a "buy" rating in a report on Monday, August 4th. Canaccord Genuity Group reissued a "buy" rating and issued a GBX 456 price target on shares of Seplat Energy in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of GBX 390.50.

Seplat Energy Trading Up 0.4%

The company has a market cap of £1.69 billion, a price-to-earnings ratio of -8.81, a price-to-earnings-growth ratio of 0.09 and a beta of 0.45. The firm has a 50-day moving average price of GBX 255.59 and a 200 day moving average price of GBX 221.73. The company has a current ratio of 1.48, a quick ratio of 1.40 and a debt-to-equity ratio of 43.24.

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.

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