Seplat Energy (LON:SEPL) Stock Passes Above 50-Day Moving Average - Here's Why

Key Points

• Seplat Energy's stock recently surpassed its 50-day moving average of GBX 242.53, trading as high as GBX 255.
• Analysts have given Seplat Energy a consensus "Buy" rating with a target price of GBX 390.50, reflecting positive sentiment towards the company.
• The company reported oil and gas production volumes of 48,152 barrels of oil equivalent per day in 9M 2023, emphasizing its position as a key player in Nigeria's energy sector.

Shares of Seplat Energy Plc (LON:SEPL - Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 242.53 ($3.26) and traded as high as GBX 255 ($3.43). Seplat Energy shares last traded at GBX 249.50 ($3.36), with a volume of 66,939 shares traded.

Wall Street Analysts Forecast Growth

SEPL has been the subject of several research analyst reports. Canaccord Genuity Group reaffirmed a "buy" rating and set a GBX 456 target price on shares of Seplat Energy in a research note on Thursday, July 31st. Citigroup upped their target price on Seplat Energy from GBX 250 to GBX 325 and gave the stock a "buy" rating in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Seplat Energy has an average rating of "Buy" and an average price target of GBX 390.50.

Seplat Energy Price Performance

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 market capitalization of £1.77 billion, a PE ratio of 21.99, a PEG ratio of 0.09 and a beta of 0.45. The company has a 50-day moving average of GBX 243.33 and a 200 day moving average of GBX 210.95.

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.