Seplat Energy (LON:SEPL) Trading Down 9% – Here’s Why

Seplat Energy Plc (LON:SEPL) shares were down 9% during trading on Thursday . The company traded as low as GBX 477.50 and last traded at GBX 477.50. Approximately 700,118 shares changed hands during trading, a decline of 42% from the average daily volume of 1,205,462 shares. The stock had previously closed at GBX 525.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SEPL shares. 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 research report on Tuesday, June 2nd. Canaccord Genuity Group restated a “buy” rating and set a GBX 695 target price on shares of Seplat Energy in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Seplat Energy has a consensus rating of “Buy” and an average price target of GBX 3,672.50.

Seplat Energy Trading Down 9.0%

The firm has a market capitalization of £2.86 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 0.09 and a beta of 0.11. The company has a quick ratio of 1.40, a current ratio of 1.18 and a debt-to-equity ratio of 57.57. The firm’s 50-day simple moving average is GBX 553.39 and its 200-day simple moving average is GBX 426.80.

Insider Buying and Selling 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 purchased at an average price of GBX 573 per share, for a total transaction of £343,765.62. Company insiders own 16.90% 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.