Seplat Energy (LON:SEPL) Trading Down 9% – Here’s Why

Seplat Energy Plc (LON:SEPL)’s stock price dropped 9% during trading on Thursday . The stock traded as low as GBX 477.50 and last traded at GBX 477.50. Approximately 700,118 shares were traded during mid-day trading, a decline of 42% from the average session volume of 1,205,462 shares. The stock had previously closed at GBX 525.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Citigroup lifted their price objective on shares of Seplat Energy from GBX 6,550 to GBX 6,650 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Canaccord Genuity Group restated a “buy” rating and issued a GBX 695 target price on shares of Seplat Energy in a report on Friday, May 1st. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of GBX 3,672.50.

Seplat Energy Trading Up 2.2%

The stock has a market cap of £2.93 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 0.09 and a beta of 0.11. The company has a quick ratio of 1.40, a current ratio of 1.18 and a debt-to-equity ratio of 57.57. The business has a 50-day moving average of GBX 553.21 and a 200-day moving average of GBX 428.83.

Insider Buying and Selling at Seplat Energy

In other news, insider Christopher Okeke purchased 59,994 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was bought at an average cost of GBX 573 per share, with a total value of £343,765.62. 16.90% of the stock is owned by company 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.