Seplat Energy (LON:SEPL) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Seplat Energy Plc (LON:SEPL) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of GBX 399.51 and traded as high as GBX 465. Seplat Energy shares last traded at GBX 463, with a volume of 1,059,190 shares.

Analyst Ratings Changes

Separately, Canaccord Genuity Group raised their target price on shares of Seplat Energy from GBX 550 to GBX 570 and gave the company a “buy” rating in a research note on Thursday, March 5th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of GBX 447.50.

Seplat Energy Price Performance

The stock has a market capitalization of £2.78 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 0.09 and a beta of 0.21. The company has a quick ratio of 1.40, a current ratio of 1.09 and a debt-to-equity ratio of 61.26. The business has a 50-day simple moving average of GBX 399.51 and a two-hundred day simple moving average of GBX 318.90.

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.