Seplat Energy (LON:SEPL) Hits New 1-Year High – Still a Buy?

Shares of Seplat Energy Plc (LON:SEPL) hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 620 and last traded at GBX 620, with a volume of 189904 shares. The stock had previously closed at GBX 613.

Analysts Set New Price Targets

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

Seplat Energy Stock Performance

The company has a 50-day simple moving average of GBX 549.13 and a two-hundred day simple moving average of GBX 510.22. The company has a debt-to-equity ratio of 47.14, a quick ratio of 1.40 and a current ratio of 1.05. The firm has a market capitalization of £3.72 billion, a P/E ratio of 20.67, a PEG ratio of 0.09 and a beta of 0.11.

Insider Activity at Seplat Energy

In other news, insider Christopher Okeke bought 59,994 shares of the stock in a transaction dated Monday, June 8th. The stock was bought at an average price of GBX 573 per share, for a total transaction of £343,765.62. 16.91% of the stock is currently owned by insiders.

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.