Seplat Energy (LON:SEPL) Share Price Passes Above 50-Day Moving Average – What’s Next?

Seplat Energy Plc (LON:SEPL) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of GBX 238.82 ($3.21) and traded as high as GBX 268 ($3.60). Seplat Energy shares last traded at GBX 263 ($3.53), with a volume of 113,014 shares traded.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SEPL shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 456 ($6.12) target price on shares of Seplat Energy in a research report on Thursday, July 31st. Citigroup upped their target price on Seplat Energy from GBX 250 ($3.36) to GBX 325 ($4.37) and gave the company a “buy” rating in a research report on Monday, August 4th.

Seplat Energy Stock Up 0.6%

The business has a fifty day moving average price of GBX 238.82 and a two-hundred day moving average price of GBX 207.52. The company has a debt-to-equity ratio of 43.24, a current ratio of 1.48 and a quick ratio of 1.40. The firm has a market capitalization of £1.93 billion, a price-to-earnings ratio of 23.99, a price-to-earnings-growth ratio of 0.09 and a beta of 0.45.

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.