Seplat Energy's (SEPL) "Buy" Rating Reaffirmed at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reaffirmed its "buy" rating for Seplat Energy, maintaining a price target of GBX 456 ($6.05), which suggests a potential upside of 70.68% from its previous close.
• Seplat Energy traded up by GBX 11.67 ($0.15) during the last trading session, reaching a price of GBX 267.17 ($3.54) with total shares exchanged at 105,897.
• The company reported an average production of 48,152 barrels of oil equivalent per day in the first nine months of 2023, including significant volumes of natural gas for domestic power generation.

Canaccord Genuity Group reissued their buy rating on shares of Seplat Energy (LON:SEPL - Free Report) in a report released on Thursday, MarketBeat Ratings reports. They currently have a GBX 456 ($6.06) price target on the stock.

Seplat Energy Stock Performance

Shares of LON:SEPL traded up GBX 2 ($0.03) during midday trading on Thursday, hitting GBX 262.50 ($3.49). The stock had a trading volume of 446,087 shares, compared to its average volume of 276,125. Seplat Energy has a 1 year low of GBX 147 ($1.95) and a 1 year high of GBX 269.50 ($3.58). The company has a current ratio of 1.48, a quick ratio of 1.40 and a debt-to-equity ratio of 43.24. The stock has a 50 day moving average price of GBX 232.35 and a two-hundred day moving average price of GBX 204.93. The company has a market capitalization of £1.91 billion, a PE ratio of 23.81, a P/E/G 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.