Seplat Energy (LON:SEPL) Shares Cross Above 50-Day Moving Average - What's Next?

Key Points

• Seplat Energy's shares have recently crossed above their 50-day moving average of GBX 270.80, with the stock trading as high as GBX 299.
• Analysts have issued positive ratings for Seplat Energy, with Canaccord Genuity raising their target price to GBX 550 and Citigroup to GBX 325, indicating strong growth potential.
• Seplat Energy is a key player in Nigeria's energy sector, currently producing 48,152 boepd in oil and gas, including significant natural gas for domestic power generation.

Seplat Energy Plc (LON:SEPL - Get Free Report) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 270.80 ($3.64) and traded as high as GBX 299 ($4.01). Seplat Energy shares last traded at GBX 289 ($3.88), with a volume of 116,059 shares trading hands.

Analysts Set New Price Targets

A number of research firms have issued reports on SEPL. Canaccord Genuity Group lifted their target price on shares of Seplat Energy from GBX 465 to GBX 550 and gave the company a "buy" rating in a research note on Friday, September 26th. Citigroup lifted their target price on shares of Seplat Energy from GBX 250 to GBX 325 and gave the company a "buy" rating in a research note on Monday, August 4th. Two investment 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 437.50.

Seplat Energy Price Performance

The stock's 50 day moving average price is GBX 270.80 and its two-hundred day moving average price is GBX 235.21. The company has a debt-to-equity ratio of 43.24, a current ratio of 1.48 and a quick ratio of 1.40. The firm has a market capitalization of £1.73 billion, a price-to-earnings ratio of -9.03, a PEG 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.

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