Seplat Energy (LON:SEPL) Reaches New 52-Week High – Here’s What Happened

Seplat Energy Plc (LON:SEPL)’s share price hit a new 52-week high during trading on Friday. The stock traded as high as GBX 893 and last traded at GBX 885.33, with a volume of 78,405 shares trading hands. The stock had previously closed at GBX 847.

Wall Street Analyst Weigh In

SEPL has been the subject of several recent research reports. Canaccord Genuity Group restated a “buy” rating and issued a GBX 690 price objective on shares of Seplat Energy in a report on Thursday, July 30th. Citigroup increased their target price on shares of Seplat Energy from GBX 665 to GBX 875 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of GBX 782.50.

Seplat Energy Stock Up 4.7%

The company has a market cap of £5.32 billion, a P/E ratio of 17.74, a P/E/G ratio of 0.09 and a beta of 0.11. The company has a quick ratio of 1.40, a current ratio of 1.16 and a debt-to-equity ratio of 46.97. The business’s 50 day moving average is GBX 785.68 and its 200 day moving average is GBX 570.72.

Insider Activity

In related news, insider Tony O. Elumelu purchased 6,000,000 shares of the business’s stock in a transaction dated Wednesday, September 30th. The shares were acquired at an average cost of GBX 887 per share, for a total transaction of £53,220,000. Corporate insiders own 37.98% of the company’s stock.

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.