Seplat Energy (LON:SEPL) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

Seplat Energy Plc (LON:SEPL)’s share price passed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of GBX 716.95 and traded as high as GBX 799. Seplat Energy shares last traded at GBX 785, with a volume of 43,911 shares traded.

Analysts Set New Price Targets

A number of analysts recently weighed in on SEPL shares. Citigroup upped their price target on shares of 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 price objective on shares of Seplat Energy in a research report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Seplat Energy has a consensus rating of “Buy” and an average price target of GBX 782.50.

Seplat Energy Price Performance

The business’s 50 day moving average price is GBX 721.13 and its 200-day moving average price is GBX 601.56. The company has a quick ratio of 1.40, a current ratio of 1.05 and a debt-to-equity ratio of 47.14. The company has a market cap of £4.71 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.09 and a beta of 0.11.

Insiders Place Their Bets

In other news, insider Tony O. Elumelu purchased 6,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 30th. The shares were purchased at an average price of GBX 887 per share, with a total value of £53,220,000. Insiders own 37.98% of the company’s stock.

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.