Seplat Energy (LON:SEPL) Shares Up 10.6% – Here’s What Happened

Seplat Energy Plc (LON:SEPL) traded up 10.6% on Tuesday . The company traded as high as GBX 738 and last traded at GBX 728. 668,972 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 1,482,744 shares. The stock had previously closed at GBX 658.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SEPL. Citigroup increased their price objective on Seplat Energy from GBX 6,550 to GBX 6,650 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Canaccord Genuity Group restated a “buy” rating and issued a GBX 690 target price on shares of Seplat Energy in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Seplat Energy presently has a consensus rating of “Buy” and an average target price of GBX 3,670.

Seplat Energy Trading Up 10.6%

The company has a fifty day simple moving average of GBX 572.10 and a two-hundred day simple moving average of GBX 529.08. The company has a debt-to-equity ratio of 47.14, a current ratio of 1.05 and a quick ratio of 1.40. The company has a market capitalization of £4.37 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 0.09 and a beta of 0.11.

Insider Activity at Seplat Energy

In related news, insider Christopher Okeke acquired 59,994 shares of the stock in a transaction dated Monday, June 8th. The shares were acquired at an average price of GBX 573 per share, with a total value of £343,765.62. Corporate insiders own 16.91% 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.