Seplat Energy (LON:SEPL) Stock Price Passes Above Fifty Day Moving Average - Time to Sell?

Key Points

• Seplat Energy's stock price has recently crossed above its 50-day moving average, trading at GBX 299.50 ($3.98) with a significant trading volume of 28,460 shares.
• Analyst ratings for Seplat Energy have improved, with Citigroup and Canaccord Genuity raising their target prices, establishing a consensus rating of "Buy" and a target price of GBX 437.50.
• The company, which produced an average of 48,152 barrels of oil equivalent per day in 9M 2023, is focused on supporting Nigeria's energy transition.

Seplat Energy Plc (LON:SEPL - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 266.61 ($3.55) and traded as high as GBX 300 ($3.99). Seplat Energy shares last traded at GBX 299.50 ($3.98), with a volume of 28,460 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Citigroup lifted 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. Canaccord Genuity Group lifted their target price on Seplat Energy from GBX 465 to GBX 550 and gave the stock a "buy" rating in a research note on Friday, September 26th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Seplat Energy presently has a consensus rating of "Buy" and a consensus target price of GBX 437.50.

Seplat Energy Stock Down 0.2%

The company has a market capitalization of £1.79 billion, a P/E ratio of -9.34, a PEG ratio of 0.09 and a beta of 0.45. The company has a debt-to-equity ratio of 43.24, a quick ratio of 1.40 and a current ratio of 1.48. The stock has a 50 day moving average price of GBX 266.61 and a 200 day moving average price of GBX 230.22.

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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