Seplat Energy (LON:SEPL) Shares Pass Above 50-Day Moving Average – What’s Next?

Seplat Energy Plc (LON:SEPL) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of GBX 633.19 and traded as high as GBX 845. Seplat Energy shares last traded at GBX 839, with a volume of 296,594 shares changing hands.

Wall Street Analysts Forecast Growth

SEPL has been the subject of a number of analyst reports. Citigroup raised their price target on Seplat Energy from GBX 665 to GBX 875 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Canaccord Genuity Group reissued a “buy” rating and issued a GBX 690 target price on shares of Seplat Energy in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Seplat Energy presently has a consensus rating of “Buy” and an average target price of GBX 782.50.

Seplat Energy Stock Up 1.7%

The firm has a market cap of £4.98 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 0.09 and a beta of 0.11. The company has a 50-day simple moving average of GBX 639.05 and a 200-day simple moving average of GBX 561.62. The company has a debt-to-equity ratio of 47.14, a current ratio of 1.05 and a quick ratio of 1.40.

Seplat Energy Company Profile

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.