Seplat Energy (LON:SEPL) Reaches New 12-Month High – Time to Buy?

Seplat Energy Plc (LON:SEPL) shares hit a new 52-week high 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SEPL shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a GBX 690 target price on shares of Seplat Energy in a report on Thursday, July 30th. Citigroup lifted their price objective on 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 MarketBeat.com, the stock has an average rating of “Buy” and an average price target of GBX 3,670.

Seplat Energy Price Performance

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 firm’s fifty day moving average price is GBX 552.89 and its 200-day moving average price is GBX 514.57. The stock has a market cap of £3.85 billion, a P/E ratio of 21.40, a PEG ratio of 0.09 and a beta of 0.11.

Insiders Place Their Bets

In other news, insider Christopher Okeke purchased 59,994 shares of the business’s stock in a transaction on Monday, June 8th. The shares were acquired at an average price of GBX 573 per share, with a total value of £343,765.62. 16.91% of the stock is owned by insiders.

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.