Citigroup Forecasts Strong Price Appreciation for Seplat Energy (LON:SEPL) Stock

Key Points

• Citigroup has raised its price target for Seplat Energy from GBX 250 to GBX 325, indicating a potential upside of 25% from the current stock price.
• Canaccord Genuity Group also issued a "buy" rating with a higher price target of GBX 456, supporting optimism for Seplat Energy's stock performance.
• Seplat Energy is Nigeria's top independent oil and gas producer, achieving production volumes of 48,152 barrels of oil equivalent per day in 9M 2023.

Seplat Energy (LON:SEPL - Free Report) had its price objective raised by Citigroup from GBX 250 ($3.36) to GBX 325 ($4.37) in a report released on Monday, MarketBeat Ratings reports. Citigroup currently has a buy rating on the stock.

Separately, Canaccord Genuity Group restated a "buy" rating and set a GBX 456 ($6.13) price objective on shares of Seplat Energy in a report on Thursday, July 31st.

Seplat Energy Stock Up 5.5%

Shares of LON:SEPL traded up GBX 14 ($0.19) during midday trading on Monday, reaching GBX 269.50 ($3.62). 213,307 shares of the company were exchanged, compared to its average volume of 272,798. Seplat Energy has a fifty-two week low of GBX 147 ($1.98) and a fifty-two week high of GBX 269.50 ($3.62). 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 stock has a fifty day simple moving average of GBX 236.75 and a two-hundred day simple moving average of GBX 206.49. The firm has a market cap of £1.96 billion, a PE ratio of 24.44, a P/E/G ratio of 0.09 and a beta of 0.45.

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.