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

Key Points

• Canaccord Genuity reiterated a Buy rating on Seplat with a GBX 695 target (implying ~16.3% upside), while Citigroup raised its target to GBX 655 and also rates the stock Buy; the MarketBeat consensus rating is Buy with a consensus target of GBX 675.
• Seplat shares opened at GBX 597.61 (52-week range GBX 191.80–608) and have a market capitalization of £3.59 billion, with valuation metrics including a PE of 22.13 and a P/E/G of 0.09, and the 50‑day SMA (GBX 481.74) is well above the 200‑day SMA (GBX 361.08).
• Seplat Energy is Nigeria’s leading indigenous oil & gas producer, reporting production of 48,152 boepd in 9M 2023 (including 117 MMscfd of processed gas) and states a strategic focus on supporting Nigeria’s energy transition.

Seplat Energy (LON:SEPL - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Canaccord Genuity Group in a report released on Friday,Digital Look reports. They presently have a GBX 695 target price on the stock. Canaccord Genuity Group's target price suggests a potential upside of 16.30% from the stock's previous close.

Separately, Citigroup upped their target price on shares of Seplat Energy from GBX 415 to GBX 655 and gave the company a "buy" rating in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of GBX 675.

Seplat Energy Price Performance

Seplat Energy stock opened at GBX 597.61 on Friday. Seplat Energy has a 52 week low of GBX 191.80 and a 52 week high of GBX 608. The company has a quick ratio of 1.40, a current ratio of 1.09 and a debt-to-equity ratio of 61.26. The firm's 50-day simple moving average is GBX 481.74 and its 200 day simple moving average is GBX 361.08. The firm has a market capitalization of £3.59 billion, a PE ratio of 22.13, a P/E/G ratio of 0.09 and a beta of 0.05.

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. Our goal is to help meet the energy needs of Nigeria's rapidly growing population by providing accessible, reliable and sustainable energy, at the same time increasing shareholder value.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.